Whereas most people would think token offerings are no longer a viable manner of raising funds in the cryptocurrency industry, the statistics show otherwise. A recently released report by PwC only confirms there is still a lot of money being put into these token offerings accordingly. While it will be difficult to dethrone EOS in the years to come, these other projects have successfully raised money in the past 18 months.
Telegram ($1.7bn in Funding)
There are some conflicting opinions as to whether or not the Telegram token offering should even be included in this report. The parent company created a digital token to enhance its native messenger ecosystem, thus it seems only fair they are up rather high on this list. By successfully raising $1.7bn dollars in the process, it is evident there is a genuine interest in this token and Telegram itself. The tokens ale came to a close in March of 2018, although there hasn’t been too much news regarding the use of this new asset ever since.
Bitfinex ($1bn in Funding)
There are two major token offerings which stood out in 2019 so far. The first one is Bitfinex’s token sale, which concluded in May of 2019. When everything was said and one, the company raised another $1bn in funding. Owners of this token will be able to obtain trading fee discounts within the iFinex ecosystem. It is somewhat similar to how Binance Coin operates, albeit it is evident Bitfinex’s token has been of great interest to both investors and speculators alike. Only time will tell if it was effectively a smart investment. The other major token sale in 2019, created by GCBIB, raised $143m for their multi-asset digital wallet.
TaTaTu ($575m in Funding)
In the cryptocurrency world, the name TaTaTu seems to pop up every now and then. Despite this popularity, a lot of people have no idea why this venture was created, let alone why the team raised $575m by June of 2018. It is a project trying to tackle social entertainment on the blockchain. While that may sound appealing, it remains to be seen if the team can effectively pull this off successfully. The mobile application seems to be getting a lot of attention, and there is a growing catalog of content to choose from. Even so, there is still a lot of work to be done in terms of achieving a mainstream level of attention.
Dragon ($320m in Funding)
Not everyone believes dragons ever existed, but they certainly exist in the cryptocurrency and blockchain industry. Back in March of 2018, the Dragon team successfully completed the token sale for their decentralized currency for casinos. A total of $320m was raised in the process, which further confirms how gambling and cryptocurrency continue to go hand-in-hand these days. To date, DRG has not received a complete listing on CoinMarketCap, as its circulating supply remains unclear. The team’s vision to get listed on big exchanges hasn’t come true either, as only Liquid, HitBTC, IDEX, and Sistemkoin are supported at this time.
Huobi Token ($300m in Funding)
The final name on this short list comes in the form of Huobi Token. Most cryptocurrency enthusiasts will be very familiar with this particular project. HT Is the native token of this popular South Korean exchange, which provides users with a trading fee reduction, among other things. This business model attracted $300m in funding by February of 2018. Investors will be pleased with the 163.01% ROI if they bought this token during the early stages of the sale. Sustaining this growth will remain a crucial challenge.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
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