StormX Raises $16.5 Million in ICO Pre-Sale

Blockchain, ICO News, Investing | October 6, 2017 By:

Gamified micro-task platform StormX has completed a limited token private pre-sale of $16.5 million USD to accredited investors. The public STORM initial coin offering (ICO) will commence on October 20.

StormX is the creator of Storm Market, a blockchain-based platform utilizing smart contracts on the ethereum blockchain to manage gamified micro-tasks between buyers and sellers through rewards in the form of STORM tokens, an ERC20 token. Storm Market is a platform similar to that of the world of gaming and game currencies. Members can use STORM tokens to access micro-tasks or to create micro-tasks.

A fixed amount of 10 billion STORM tokens will be created, with any unsold tokens being redistributed into the company pool. 65% of the tokens will be sold for use in Storm Market, 25% will be retained by StormX and 10% will be used as rewards and incentives to promote adoption of the ecosystem. The first 945 million STORM tokens sold during the ICO will receive a 15% bonus.

Users interested in purchasing STORM tokens for use in the Storm Market must pre-register and provide KYC details in order to participate in the ICO. Public registration will open October 10.

“The goal of our token sale structure is to allow as many individuals as possible to join the Storm community,” said StormX CEO Simon Yu.