Primalbase ICO Hits 3100 BTC in Just 24 Hours on Waves Platform

Primalbase is the next company to quickly complete an initial coin offering (ICO) on the Waves platform. This took place last week but Primalbase reportedly raised 3100 BTC is a bit over 24 hours. At this very moment, that equates to around $7.6 million. Waves reported that the team sold 1000 tokens at the “bonus day rate 1 rate” of 1 token per 3 BTC.

The Primalbase team released a statement on the ICO;

“We are very grateful to all who participated early and provided strong support to this project. If you were unable to secure your token in time, please stay subscribed to our mailing list to keep informed about project developments and expansions. Although no further PBT sale will ever be carried out, related complementary projects will be launched to help increase the value of PBT for existing investors as well as provide upsides for any new participants.”

As anyone following the ICO sector, this sector is red-hot with some cautioning about a possible bubble. But despite the caution, Waves platform is confident ICOs will endure;

“We’re seeing sustained interest in ICO tech, despite the ups and downs of the crypto markets,” says Sasha Ivanov, CEO of Waves. “It’s clear that ICOs are here to stay, and they have been a source of huge new interest in blockchain technology. We’re really pleased that Primalbase’s ICO has been a success, and that the project has been added to the growing list of initiatives hosted on the Waves platform.”

The Primalbase is described as a project transforms traditional office rental into a community-based ecosystem of shared office space where one can share, sell or rent out high-quality office spaces using Ethereum and Waves-based digital tokens. The “distributed workspace for tech community” says that no further PBT (the Primalbase Token) sale will ever be carried out but similar complementary projects are sure to be launched to help increase the value of PBT for existing investors as well as provide more upside to any new potential participants.

Waves Platform is a decentralized platform for launching crowdfunding campaigns and issuing digital assets. It claims to be the largest blockchain project to originate from Russia.Waves Platform completed its Initial Coin Offering in June 2016, raising more than $16 million (30,000 BTC).


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