Russia based Boomstarter.Network, a “cryptofunding platform” has raised $1 million in early financing from venture funds and private companies as part of its ongoing token offering. The blockchain based crowdfunding platform stated that DTI, an investor in Telegram and Dropbox, are participating in the funding of the firm. Boomstarter claims to be the largest crowdfunding platform for tech and business projects in Eastern Europe.
Boomstarter says it is “tokenising its existing business of generating pre-orders for startups” that has been operational since launch in 2012. Boomstarter.Network says it will welcome startups from anywhere across the globe and connect them with backers to generate pre-orders of their products at early stages.
Boomstarter.Network says it will also offer tools allowing to safely mine cryptocurrencies and use them as a means of payment to pre-order products from startups on the platform.
Alex Butmanov, managing partner of DTI, commented that Boomstarter.Network can expand globally building on prior years of experience.
“Our research shows that a large part of those involved in crowdfunding do not wish to be hampered by excessive regulations any more. Crowdfunding without borders will be a very efficient tool for testing demand for future products,” said Butmanov.
Of course, regulation is key to sector growth and non-regulated platforms that issue securities will certainly be challenged by the appropriate authorities.
Eugeniy Galiakhmetov, founder of DTI, draws a parallel to Storiqa – the crypto (STQ) currently has a market cap of around $35 million.
“Boomstarter.Network has all that it takes to replicate that success,” said Galiakhmetov.
Maria Dokshina, CEO of Boomstarter.Network, said they were honored to receive DTI backing. She did not indicate how much DTI had invested.
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