Filecoin ICO Closes at Over $200 Million Raised

Yesterday, the inaugural Initial Coin Offering (ICO) hosted on CoinList, Filecoin, closed at over $200 million raised. Crowdfund Insider reported at the end of August that two Form D’s were filed with the SEC indicating Filecoin probably closed at around $210 million. While the ICO was not without a few glitches and bumps along the tokenized path, the offer marks an interesting chapter in the world of crypto-based securities. Filecoin reported that investors from more than 50 countries participated in the offer. The “Advisor Sale” raised about $52 million before the public launch. The Filecoin (FIL) token is the native crypto token of the Filecoin network, similar to Bitcoin. Filecoin will be used to pay for storage, retrieval, and transactions in the distributed data storage network envisioned by the creators. It will also be easily transferable to other currencies on various exchanges.

 

 

CoinList was created by Protocol Labs, who is also creator of the Filecoin. CoinList, in turn, was created in partnership with AngelList.

Now that the first ICO has successfully closed one would expect a steady stream of fully compliant ICOs to emerge on the platform. CoinList is accepting applications to list ICOs now.

CoinList will be listing early-stage tokens via Simple Agreement for Future Tokens (SAFTs), an instrument and framework for token sales inspired by the YCombinator SAFE.


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