September Promises Busy ICO Marketbr>
The US Securities and Exchange Commission may be cracking down on initial coin offerings (ICO). But that has not stalled the September market for the fundraising tool.
So far this year, a total of $1.51 billion USD has been raised through ICOs, according to the Coinschedule.com website tracking. That far exceeds the $96.3 million in ICOs for all of 2016, and also has surpassed earliest-stage angel and seed venture capital issued this year.
While some have wondered whether the boom will result in an eventual crash, there’s no denying it’s currently fueling enormous growth. Companies like Tezos ($232 million ICO), which has created a protocol for self-amending blockchains, and Bancor ($153 million USD), a utility for smart tokens, have raised huge sums. Just the other day, Kik Interactive announced it had raised $50 million just in its pre-sale, heading toward a goal of $125 million.
For the uninitiated, an ICO is an unregulated means to raise funds for a new venture, usually without giving up equity. A token is created and is sold to backers, who then get rights and privileges within the token’s ecosystem. If the token is listed on an outside exchange, it can be sold for fiat currency or other cryptocurrencies. The hope is that the backed venture gains traction, making the tokens escalate in value.
Of course, most ICOs are speculative ventures. It’s possible that the backed project never advances beyond the white paper stage, making any token purchased worthless. The US SEC has taken notice, and recently issued guidelines for ICOs, indicating many of them are securities, and thus have to undergo the processes of review and approval that any other security would experience.
The guidance already caused one exchange to bar US customers because of the added paperwork and scrutiny, and another firm to halt operations and refund money. Thus, a potential end to the wild west days of coin offerings without official oversight, at least for US customers, may be at hand.
BlockTribune takes a look at some of the upcoming September ICOs. Note that we do not endorse any particular project, but merely offer information on its availability.
September 2017 ICOS
bitJob (STU): bitJob plans to deploy blockchain technology in the global student community. The project is designed to connect university students with employment opportunities within the digital currency sector. Even before the formal launch, it has garnered significant interest from a series of universities and student groups, signaling a promising future. Like digital currencies themselves, the greater the network effect the more valuable the project becomes for its users – and if the collection of participants to date is anything to go by, BitJob will become one of the primary hubs for recruitment in the blockchain sector. The bitJob ICO will start on September 12.
Kik Interactive (KIN): Canadian mobile messaging app Kik Interactive is creating a cryptocurrency as a first step to launching a decentralized ecosystem of digital services. The Kin token, which will be created as an ERC20 token on the ethereum blockchain, will exist not just within the Kik platform. Other platforms and companies will also be able to adopt it. Kik has allocated 1 trillion in tokens for the ICO. Of that amount, $50 million or 488 million tokens have already been sold in a presale round to select investors. The Kik Interactive ICO will begin on September 12.
Aventus (AVT): Aventus is a blockchain-based event ticketing solution that practically eliminates fraud and unregulated touting. Organisers can create, manage and promote their events and tickets with reduced platform costs, and can set price controls and receive commissions on secondary market sales. The Aventus ICO starts on September 6.
Atlant (ATL): Atlant is building a next generation global real-estate platform based on blockchain technology. They believe blockchain has the potential to help accelerate the adoption of the sharing economy which has already begun to unleash industry disruption by opening up significant amounts of previously untapped private capacity and tokenization of property will completely change real estate transactions and ownership transfer as we know them. With a secure, tamper-proof system based on the blockchain, users can trade parcels of property on its platform and bypass intermediaries in rental deals, transacting P2P (peer-to-peer), all of which will enhance ease of use and security for guests and hosts alike, streamlining user experience and driving accelerated adoption. The Atlant ICO will start on September 7.
Electroneum (ETN): Electroneum has been designed and built to give ordinary, non-technical users a chance to obtain and enjoy a cryptocurrency. They have developed an iOS and Android app that not only contains easy wallet functions, but also allows a mining experience to let anybody get “into” cryptocurrency within minutes of downloading a free app. Their blockchain has been specifically chosen and modified to limit the ability of ASIC and GPU miners, allowing the 2 billion smartphone users to run the blockchain. The Electroneum ICO will start on September 14.