Crowd for Angels Updates Investors Following ICO

Crowd for Angels launched an initial coin offering (ICO) pertaining to a “Liquid Crypto Bond” in March. The token offering closed on March 31st with the  Angel cryptocurrency commencing trading on the GetBTC exchange on April 12th. Investors in the Bond apparently received free Angel tokens. Crowd for Angels has published a post ICO note for investors updating on progress.

Crowd for Angels explains its objective:

“Our aim was to attract attention for the platform by rewarding users who complete actionable ‘events’ with free ANGEL tokens. Users will benefit from token rewards by engaging with our website, apps, advertising and media. This will help foster user interaction, loyalty and spread content through the internal and external network. I am pleased to inform you that this programme commenced as soon as the tokens were listed in early April.”

Explaining the difference between the ICO and the ongoing Liquid Crypto Bond offering, Crowd for Angels says;

“The ICO was for the ANGEL tokens which was completed and listed in quick time. Our aim is to raise up to £50m in 5-year 4% bonds through multiple tranches. We are currently in the process of raising up to £4.25m remains on our platform.”

Currently, you can still purchase  Angel tokens at a rate of 99 tokens per British pound.

So was the ICO a success? Hard to tell. The Crypto Bond sale is ongoing with little information explaining how much has been invested into the debt based asset.

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