Let’s find out which companies have succeeded with the initial token offering (ICO), raised as much money as planned, and fulfilled their promises to investors.
Every year, tens of billions of dollars are invested in tokens. The importance of this issue increased after Pavel Durov’s TON ICO was actually outlawed by an American court. The uncertain status of cryptocurrency Libra from Mark Zuckerberg also added concern to crypto investors. So was there at least one successful ICO?
Yes, It was, and not just one. Let’s arrange these cases in chronological order.
1. Mastercoin — 2013
You could hear about this cryptocurrency under the name “Omni.” This was the first registered ICO (we could call it the grandfather of ICO).
On July 31, 2013, a special fund was created for investment. About 500 people transferred 5,000 BTC into this fund. In 2013, this amount was $ 500 thousand. For the first time in the history of cryptocurrencies, the creators promised anyone who buys a Mastercoin an opportunity to use it as an investment tool. After the launch of the system, the value of coins was supposed to increase, and the holder could sell it freely.
Was this plan implemented? Yes, it was. In less than a year, Mastercoin already ranked seventh in the cryptocurrency market.
The renaming of Mastercoin to Omni took place in 2015. Now it’s not just a coin, but a Bitcoin-based platform, on which the one can trade digital assets, and also create them.
2. Ethereum (ETH) — 2014
One of the prime examples of a successful token placement campaign. In just 12 hours, it raised $2.3 million. And in September 2014, it raised $18.4 million in total.
This is how it all happened. A unique feature of the platform at that time was the smart contract system. A key feature of Ethereum is to provide a basis for other projects to build and develop their technologies.
Information about the total number of available tokens was not disclosed, but 60 million tokens were successfully sold. Global fundraising goals were not limited to anything.
Was the ICO successful and have all the promises been fulfilled? Definitely. To this day, this ICO is considered one of the most successful in history and an example of worthy crowdfunding. Ethereum lives, develops, and is second in terms of capitalization after BTC. On its basis, new platforms are being built.
3. EOS Project (EOS) from block.one — 2017
This project raised $185 million for the development and implementation of a new blockchain architecture that automates financial processes and evaluates transaction parameters. It helps to create high-quality business applications.
4. Status (SNT) — 2017
Another example of brilliant success. This blockchain messenger and mobile operating system (built on Etehreum technologies) were developed to work with decentralized mobile applications. Status raised over $100 million on the first day. Promises are fulfilled, applications work and allow to use encrypted messages, smart contracts, payments, chatbots, and operate with any available ICOs. There’s also a built-in currency exchange. The system allows you to store your crypto assets in a special Status wallet.
5. Bancor (BNT) — 2017
In 2016–2017 there was a real ICO boom. The Bancor project’s shown even faster fundraising than its predecessors. In just 3 hours, $140 million tokens were bought. In total, BNT was sold in the amount of $153 million. Bancor’s goal is to increase the liquidity of ERC-20 tokens (Ethereum) and make BNT actually reserve currency. It doesn’t require any exchanges and offers its owners an investment basket. Bancor works with smart contracts and allows you to issue your tokens and link any tokens to a plastic card.
However, you can only call it successful with some limitations. It’s restricted in the USA, and there are questions about the tokens that rotate on this platform. However, outside of America, people make BNT transactions, which means that it can’t be called a failure (Gram’s also banned in the USA yet).
6. Tezos (XTZ) — 2017
For the first 5 days, the Swiss company Tezos raised $137 million through ICO. The total amount of token sale was about $230 million. This placement is rightfully considered one of the most successful in crypto history.
The project offers a flexible alternative system of smart contracts and is opposed to the Ethereum system on which many companies build their networks.
7. Filecoin (FIL) — 2017
In 2014, Protocol Labs launched this system as part of a secure and reliable data storage program based on IPFS protocol (InterPlanetary File System). The regulated ICO of 2017 showed excellent results with the requested $40 million. It was possible to raise $257 million, i.e. almost 6.5 times more.
After the boom in 2016–2017, there were many successful ICOs, but these seven placements were most memorable.
Where you can see all ICOs yourself
There’re several useful resources that allow you to get information about the active and upcoming placement of tokens (without investment recommendations) and an archive of past ICOs. These are ICOMARKS and ICODROPS platforms.
7 Legendary and Most Successful ICOs in Cryptocurrency History was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.