Cofound.it announced its CFI tokens completely sold out during the public crowdsale pre-sale phase. The pre-sale, which started on June 4, attracted 1,521 investors and raised 56,565 ETH ($14,859,059). The tokens will be issued within seven days of an audit’s completion. They are expected to trade on major exchanges, with announcements expected over the summer.
“Cofound.it is proud to have made history today as the first crowdsale to completely sell out before its public token sale begins,” cofounder and CEO Jan Isakovic said. “This momentous achievement is testament to our revolutionary Priority Pass mechanism which rewards highly-engaged company supporters. We believe Priority Pass represents the future for startups planning crowdsales.
“This strong community support shows that the community shares our vision of a distributed Silicon Valley and our belief that the blockchain space must build it.”
Priority Pass is available to prescreened companies and offers projects the chance to appeal to an established supporter network. Maiden Cofound.it projects Santiment, Musiconomi, and X8currency each plan on using Priority Pass.
Cofound.it plans to launch a minimum of 10 projects this year and 30 in 2018.
Tony Zerucha is the managing editor of Bankless Times.
A two-time LendIt Journalist of the Year nominee, Tony has written more than 2,000 original articles on the blockchain, peer-to-peer lending, crowdfunding and emerging technologies over the past seven years, making him one of the senior writers in the alt-fi sector.
"The evolution of the crowdfunding and peer-to-peer lending scenes is absolutely fascinating to chronicle. It is a joy to be around people with such passion and vision."