Santiment Raises $12M in Crowdsalebr>
Germany-based crypto-market datafeeds platform Santiment has raised a total of $12,215,250 USD worth of ETH in its two-stage SAN token crowdsale, which closed on July 5.
Santiment seeks to provide investors with a comprehensive way to identify and avoid duplicitous crowdsale projects. Using objective data feeds and expertly crafted content, the company offers investors an open database of projects that gives them a trading advantages and minimizes the risk of their investments.
The SAN token crowdsale raised 32,000 ETH in a preliminary community sale, followed by a pre-sale facilitated by Cofound.it’s Priority Pass community, which raised 13,000 ETH in less than 60 seconds.
The funds will be distributed as follows: 50% will be used to develop datafeeds, 15% for datafeeds and service acquisitions, 15% for marketing and business development, 10% for operational expenses, 5% for legal expenses, and 5% remains as a reserve fund, the release said.
The company said the SAN token provides users and exchanges access to streams of information and feeds. It added that the token is the sole means of accessing auctions for exclusive datafeeds and content related to token sale and team analysis, market research, project due diligence, and country-specific regulations. Non-exclusive services will also be available through subscriptions payable in fiat currency.
“Already in an alpha stage, Santiment has developed a working mobile app offering historical price feed and charts, a trollbox sentiment feed, and a sentiment journaling game,” Santiment founder Maksim Balashevich “Thanks to the enormous support of our community, Santiment can continue to build out its mobile and web terminal. Moreover, the crowdsale places Santiment in prime position to establish itself as the financial market data and content platform of choice for the cryptocurrency and blockchain space, comparable to the position that Bloomberg and Thomson Reuters hold in traditional financial markets.”