Social investment network investFeed concluded its token generation event on Mon. Aug. 7 at 5 am EDT. It generated 15,038 ETH with a $4 million market valuation.
The FEED tokens, which are generated through Ethereum-based smart contracts, have already been issued to the close to 1,000 participants.
“The amount of community support we have received over the last two weeks has been unbelievable and only reinforces our drive to deliver the best product we can to the cryptocurrency community,” investFeed CEO Ron Chernesky said. “When we sought out to create an incentivized, next-generation social investment network for cryptocurrencies, we placed democracy at the center of our mission. That is why we held our token sale: we understood the importance of placing power directly in the hands of the community.
“Our development team has built the first version of the platform already and it’s receiving great feedback. We are going to keep rolling out advanced features and unlock new functionality; it’s now time to turn this vision into a reality.”
The live platform beta has attracted more than 15,000 users who share opinions and data on 235 cryptocurrencies, each of which has its own stream.
“The strong level of participation reflects a significant market need for a one-stop shop for investors and financial market professionals migrating from the relatively low yield world of stocks, bonds and real estate, to the exciting new world of cryptocurrency,” Mr. Chernesky said. “Traditional investors, high-net worth individuals and cryptocurrency enthusiasts now have a better way to participate in, learn about, and benefit from the growing industry, one that we think is primed for extremely rapid ascension across the next decade.”
investFeed’s new platform launched ahead of schedule, which was originally planned for release 90 days post TGE. The marketplace’s internal utility token will be used to access popular investing ideas, peer-to-peer price predictions, investor insights, activating cryptocurrency alerts, and “Boosting” or promoting individual content.