Gone are the times when virtual currencies made so much money. Now the fundraising from cryptocurrencies seems to have taken a beating.
According to a report, the first few months of the year 2018, $25.5m was raised by the initial coin offering at an average according to a report by PwC. The EOD offering which is touted to be the largest ICO of all, closed in that time raising $4.1 billion.
The second round of ICO aimed at making EOS more functional within the markets hasn’t been able to garner much attention from the coveted industry investors.
According to recent news, LiquidApps has been making another solution that functions on the company’s token DAPP, that has been traded in auctions since February this year. On August 19th, after its 233rd cycle of the auction, the sale could scrape only $2.8m in cryptocurrencies.
The founder of Lynx crypto wallet, (built to be compatible with EOS), spoke that he wasn’t astonished at the return values of the ICO of LiquidApps.
Most end-users and token buyers understand one thing – native tokens for blockchains.
A spokesperson fromLiquidApps spoke in an interview:
They’ve done an interesting job and have been innovative in learning from the Block.One sale and mechanics in crafting how to fundraise for a project should be done. Where they’ve struggled is, not just different market conditions, but finding the right investors and participants for their sale that fully understand the value proposition for the project.
LiquidApps refused to respond on the outcomes of the token sale even after being repeatedly nagged by the paparazzi.
The firm is assumed to take off a little from the plate of blockchain RAM framework of EOS. But as the situation speaks, that has been put to rest while the company faces scarcity of assets by market capitalization.
After 6 months of the sale in EOS, Block.One, a startup that inspired EOS, raised $700m, according to the Wall Street Journal in 2017.
But landscapes have changed and LiquidApps has promised a much real offering than other ICOs.
The CEO, Hakka of the company said in a previous statement that,
Our goal with the Token Generation is to bring as many stakeholders into the ecosystem to best establish it for success. As true believers in the free market, we don’t involve ourselves with price speculations – there is no technical possibility to combine an auction, like we’re doing, with a capped amount. This is an idea that, in the old days, would attract no more than $225K in seed funding from angels and a few VCs, and those VCs would be considered mavericks for taking this on.