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Block.One ICO Surpasses Bancor’s Record by Raising $185 Million

Avatar Gautham 2 years ago

The new-age fundraising techniques — ICOs and crowdsales are turning mainstream, and the standing proof of trend shift is the performance of recent ICOs. Last month, Bancor created a record, after raising over $150 million, a first for any cryptocurrency token crowdsale. While people are still talking about its success, another decentralized platform, Block.One has surpassed Bancor’s mark to raise over $185 million in five days.

Block.One is one of the many recent blockchain startups that offers decentralized digital ledger solutions for businesses. The company decided to opt for a different approach to the ICO. Instead of hurrying with a week-long or a month-long token sale, Block.One’s crowdsale will run for one whole year (341 days), where participants can jump in anytime and purchase the platform’s EOS tokens.

The company announced the new milestone in its latest press release. A leading startup news publication quoted the announcement saying,

“Block.one intends for the EOS.IO software to support distributed applications that have the same look and feel as existing web-based applications, but with all of the benefits of the blockchain – namely transparency, security, process integrity, speed and lower transaction costs.”

As a part of the long-term ICO, the company has set aside 1 billion EOS tokens, out of which investors already purchase 20 percent of them. The whole intention behind the 341-day crowdsale was to reduce the flash rise effect, which is quite evident in other ICOs. But it seems the platform has failed to curb the enthusiasm in any way.

The current trend shows that the demand for EOS tokens will not subside anytime soon. The success of EOS token sale also takes the Block.One project a step nearer to making blockchain solutions easily available to businesses, irrespective of their size.

Meanwhile, there are concerns about these rapid ICOs raising a lot of funds. Some believe that such ICOs increases the risk of poor performance in the long-term.

Ref: VentureBeat | Image: NewsBTC
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