ICOBox, the premier provider of fixed-price SaaS ICO solutions, launched its token sale August 15. Hours before the end of crowdsale today, the project collected 3838.7238, or $12.8 million, a tribute to a volatile bitcoin exchange rate which dropped in the last few days of the token sale on Chinese ICO ban news before rallying 150 percent.
The original plan was to use the proceeds from ICOS sale to arrange token sales of up to 800 startups over the next 12 months, which otherwise can’t put together the founding needed to mount an ICO. ICOBox opened this project for applications Aug. 15, and have gotten about 3,000 applications.
However, right before the end of the crowdsale, ICOBox launched Interproject Token Swap platform, which allows for ICOS tokens to be exchanged at face value of 0.04 BTC for face value of tokens of ICOBox commercial customers. For instance, one ICOS token, worth $134 at the time of the trade, would fetch 134 Paragon Coins, with their face value of $1 each. In other words, tokens on existing and publicly announced ICOBox self-paying customers – Paragon, Ace and DSPlus – can be traded at face value the day ICOS tokens are issued, Sept. 22. ICOBox has over 20 self-paying customers, most of which have not been announced due to NDAs.
“ICOBox was launched with the idea that we will open up the process of ICO funding to a wider variety of entrepreneurs,” said Mike Raitsyn, CEO, ICOBox. “It’s important to be able to combine the accountability of blockchain with the openness of ITS when it comes to choices that ICOS token owners are empowered to make.”
When ICOS tokens sold by ICOBox are used to pay for new ICOs starting Sept. 22, the day ICOS tokens are issued, owners of ICOS tokens get a chance to help promising but underfunded new projects to bring their innovations to life by voting on which ones deserve a free ICO. One ICOS token equals one vote. Proceeds from ICOS sale are used to arrange token sales of up to 800 startups over the next 12 months, while the funds last. ICOS token owners can trade for new ICOs tokens at an average discount of 75% by value.
According to data compiled in a monthly joint ICOBox and Coinspeaker research report, 168 companies completed an ICO between Jan. 1 and Aug. 31 of this year, attracting $2.4 billion. An average ICO attracted $14.2 million. The number of ICOs more than doubled between July and Aug. 2017.
“The ICO market has evolved and now more often than not ICOs are put up by fully operational and profitable ventures,” said Nick Evdokimov, Co-Founder and Vision Director, ICOBox. “The era of blockchain projects put up with only blockchain audience in mind have given way to the era of hybrid projects that use blockchain to optimize existing business models.”
Founded in 2017, ICOBox offers fixed-price services to projects seeking to sell their products and services via ICOs. ICOBox provides technical, legal and marketing services as part of its flat-fee packages. ICOBox was founded by three blockchain visionaries: Nick Evdokimov, a co-founder of SeoPult, an ex-CEO of AdInTop and Cryptonomos CEO and co-founder, Mike Raitsyn, a serial entrepreneur, and Anar Babaev, Head of Digital Marketing at Cryptonomos. Details on ICOBox can be found at www.icobox.io. To register your project for a no-cash-down ICO, please visit: https://cryptoform.typeform.com/to/zzXaZo
For the original news story, please visit https://pressreleasejet.com/news/icobox-sale-raises-over-3838-btc-and-token-swapping-starts.html.
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