investFeed has moved quickly out of the gate in its Initial Coin Offering that was launched today. As of last check, investFeed has 8341 ETH. At an exchange rate of $226 USD for each ETH that makes over $1.8 million in less than a day.
investFeed has been around for awhile but recently altered course taking advantage of the booming interest in cryptocurrencies and the emerging ICO market. investFeed is described as the an “incentivized next-generation social investment network for cryptocurrencies”.
Since 2014, investFeed says it has attracted a community of 15,000+ users, with over 200,000 live feeds, sharing market trading insights. investFeed is pivoting from US equities to cryptocurrencies due to the incredible growth of blockchain based assets.
This current ICO has a “hard cap” of 28,000 ETH but organizers are pretty confident it will close prior to the August 7th deadline. If that happens investFeed will have raised approximately $6.3 million. If you are interested, their White Paper is available here.
Contributions from ICO will be held in escrow until the end of the sale. Following a successful offer, investFeed says 50% of the funds will be released to help with development, marketing, and other business operations. An additional 25% will be available for release following the completion of the first milestone which entails an operable social network application. The remaining 25% will be released following the team’s completion of milestone 2. This would see the investFeed product live in beta. investFeed predicts live Beta to hit in the first half of 2018.
An interesting aside to the looming success of this ICO is that investFeed had pursued a more traditional funding route (before the pivot) with less success. Now it looks like they are off to the races.
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