PolySwarm Raises $5 Million in Ongoing Nectar Public Token Sale

Gautham | March 8, 2018 | 5:42 pm
polyswarm, security

PolySwarm Raises $5 Million in Ongoing Nectar Public Token Sale

Gautham | March 8, 2018 | 5:42 pm

PolySwarm on track to launch the first decentralized antivirus marketplace

SAN JUAN, PUERTO RICO — MARCH 8, 2018 — Decentralized antivirus marketplace PolySwarm today announced it has raised over $5 million USD in its public token sale, selling out the first bonus round. Combined with its private pre-sale, PolySwarm has raised a collective $23 million from investors including Joel Deitz and Science Blockchain. In its first round, participants received a 20 percent bonus for contributing. In its current round, participants receive a 15 percent bonus until the next $5 million milestone is reached. The NCT public token sale began February 20 and continues until March 22.

PolySwarm has recently announced partnerships with the makers of marquee security tool suites including Cyber Triage and Binary Ninja, as well as several lead developers of Cuckoo Sandbox as it develops the first decentralized antivirus marketplace. With PolySwarm, a global community of anti-malware experts will compete to detect pressing threats. Experts will be rewarded with NCT tokens for timely and accurate malware detection. NCT is an ERC20 compatible utility token that allows for submissions and classifications of threats in the PolySwarm marketplace, replacing outdated antivirus programs and subscription payments.

“PolySwarm’s thesis is that the threat intelligence and anti-virus markets are ripe for an overhaul. The amount of support we have seen in online discussions and in our token sale tells us that the information security and cryptocurrency communities agree,” said Steve Bassi, CEO of PolySwarm. “We look forward to continuing to build on this momentum to develop a next-generation threat intelligence ecosystem.”

PolySwarm’s founders built the company out of Narf Industries, LLC, an information security firm that recently completed a blockchain-based identity management project for the Department of Homeland Security, as well as cutting-edge information security projects for DARPA. PolySwarm’s advisory board includes former McAfee CIO Mark Tonnesen, alongside renowned information security experts Dan Guido, Chris Eagle, Dr. Sergey Bratus, and Carl Hoffman.

ABOUT POLYSWARM

PolySwarm is the first decentralized marketplace allowing security experts to build anti-malware engines that compete to protect consumers. PolySwarm incentivizes a global community of information security experts to

disrupt the $8.5 billion cyber threat intelligence industry, providing enterprises and consumers with unprecedented speed and accuracy in threat detection. The PolySwarm market runs on Nectar (NCT), an ERC20-compatible utility token. For more information, please visit https://polyswarm.io.

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