The ICO for ICO’s – ICOBox Token Sale has attracted 3933 BTC in its token (ICOs) crowd sale. At current exchange rates, ICOBox has raised over USD $14.5 million. The offer was launched on August 15 and closed 32 days later. The ICO was impacted with the China comments on banning ICOs and thus encountered significant volatility in the price of Bitcoin.
Founded in 2017, ICOBox offers a fixed-price service for projects seeking to leverage Initial Coin Offerings. ICOBox provides technical, legal and marketing services as part the packages.
The new funding is expected to be used to pay for at least 78 ICOs once ICOS token holders start casting their votes October 2nd. Additionally, ICOS token holders will be able to swap for tokens of ICOBox’s commercial clients, projects like Paragon, DSPlus and TokenStars that paid for ICOBox to organize their token sale and opted-in to participate in the swap.
As management explains the big choice for ICOS token holders is whether they wait and vote for the most promising ICO and swap their token 1:4 for theirs, or go with the sure thing and swap their tokens at face value for one of the three publically announced opt-in ICOBox clients – Paragon, DSPlus and TokenStars. The ability to swap tokens is available to ICOS owners thanks to a new platform soft-launched during token sale;s final week: an Interproject Token Swap (IpTS).
IpTS platform allows for ICOS tokens to be exchanged at face value of 0.04 BTC for tokens of ICOBox commercial customers. Trading of the existing and opted-in ICOBox commercial customers – Paragon, TokenStars and DSPlus – starts the day ICOS tokens are issued, Sept. 22. ICOBox has over 20 commercial customers, most of which have not been announced due to NDAs.
“ICOBox was launched with the idea that we will open up the process of ICO to a wider variety of entrepreneurs,” commented Mike Raitsyn, CEO, ICOBox. “It’s important to be able to combine the accountability of blockchain with the openness of IpTS when it comes to choices that ICOS token owners are empowered to make.”
ICOBox says it intends to put up ICOs for 800 projects over the next 12 months, commercial and no-payment-upfront.
Starting Sept. 22, the day ICOS tokens are issued, owners of ICOS tokens get a chance to help promising but underfunded new projects to bring their innovations to life by voting on which ones deserve a free ICO. One ICOS token equals one vote. ICOS token owners can swap for new ICOs tokens at an average discount of 75% by value. You may register for a no cash down ICO here.
ICOBox reports that demand for ICOs continues to be strong. According to data compiled in a monthly joint ICOBox and Coinspeaker research report, 168 companies completed an ICO between Jan. 1 and Aug. 31 of this year, attracting $2.4 billion. An average ICO attracted $14.2 million. The number of ICOs more than doubled between July and Aug. 2017.
“The ICO market has evolved with fully operational and profitable ventures opposed to startups putting up ICOs,” said Nick Evdokimov, Co-Founder and Vision Director, ICOBox. “The era of blockchain projects put up with only blockchain audience in mind has given way to the era of hybrid projects that use blockchain to optimize existing business models.”
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