InvestFeed Raises $4M in Tokens
Cryptocurrency social investment network investFeed has raised 15,038 ETH (with a market valuation of $4 million US) in its Token Generation Event (TGE), which closed August 7.
Founded in 2014, investFeed aims to create a single platform combining a next-generation social investing network, incentivized information sharing, and digital asset trading analytics and insights for new blockchain companies that are seeking global exposure.
The company said the FEED tokens (IFT), generated through ethereum-based smart contracts, have already been issued to nearly 1,000 contributors.
“The amount of community support we have received over the last two weeks has been unbelievable, and only reinforces our drive to deliver the best product we can to the cryptocurrency community,” said investFeed CEO Ron Chernesky. “When we sought to create an incentivized, next-generation social investment network for cryptocurrencies, we placed democracy at the center of our mission. That is why we held our token sale: we understood the importance of placing power directly in the hands of the community. Our development team has built the first version of the platform and it’s receiving great feedback. We are going to keep rolling out advanced features and unlock new functionality; it’s now time to turn this vision into a reality.”
Chernesky added that the strong level of participation reflects a significant market need for a one-stop shop for investors and financial market professionals migrating from the relatively low yield world of stocks, bonds, and real estate to the new world of cryptocurrency.
“Traditional investors, high-net worth individuals, and cryptocurrency enthusiasts now have a better way to participate in, learn about, and benefit from the growing industry, one that we think is primed for extremely rapid ascension across the next decade,” he said.
Last month, investFeed dropped US equities from its platform in favor of high-performing, highly liquid digital currencies. The company made the decision to shift to blockchain-based assets due to a growing demand from its 15,000+ users, as well as the explosive growth of the $100 billion USD digital currency industry.
