Blockchain Data Marketplace Datawallet Raises $40M USD In ICO

Blockchain, ICO News, Investing | February 7, 2018 By:

Blockchain data exchange Datawallet has raised $40 million its DXT initial coin offering (ICO), which closed on February 6. The pre-sale on January 22 sold out in 55 seconds, raising $8 million.

Datawallet provides users with a self-sovereign wallet that puts them in charge of their data and allows them to monetize, as well as utilize an asset that is rightfully theirs. It empowers developers to leverage a completely new data universe to build applications. The company’s investors include Tim Draper and Salesforce CEO Marc Benioff.

Datawallet said a fixed amount of one billion DXT tokens were created, with a total of 33% being sold. The DXT token will be used within the Datawallet ecosystem as the primary medium of exchange within Datawallet’s closed economy.

Users can earn tokens through expressively sharing data with select companies, and can then utilize their tokens in exchange for rewards in the Datawallet App Store. The DXT token will also support the launch of DX Insights, Datawallet’s analytics tool, which will enable developers to create customized services using the Datawallet API.

“We are delighted to have achieved this caliber of support to help us develop the project,” said Datawallet CEO and Founder Serafin Lion Engel. “We plan to aggressively grow the company and the technology so we can continue to provide the best data application. Datawallet will become the world’s most trusted Personal Data Management Platform, empowering consumers everywhere to be the sole supplier and beneficiary of their data.”

“Serafin’s vision is extraordinary: that people should be able to control and sell their own data,” said Tim Draper, Founder of Draper Associates and DFJ. “I backed him very early as one of the top students at Draper University, and now his company Datawallet is making this vision a reality. This company looks to lead the decentralization wave in the data space.”