Datawallet, a C2B blockchain-based data exchange, today announced its DXT token sale has sold out after reaching its goal of $40 million USD. The pre-sale, which started on Jan. 22, was available to Datawallet’s earliest supporters on a first-come-first-served basis, with the final batch of $8 million selling out in 55 seconds, and the crowdsale selling out on Feb. 6.
“We are delighted to have achieved this caliber of support to help us develop the project,” founder and CEO Serafin Lion Engel said. “We plan to aggressively grow the company and the technology so we can continue to provide the best data application. Datawallet will become the world’s most trusted personal data management platform, empowering consumers everywhere to be the sole supplier and beneficiary of their data.”
The DXT token will be used within the Datawallet ecosystem as the primary medium of exchange within Datawallet’s closed economy. Users earn tokens through expressively sharing data with select companies, and then utilize their tokens in exchange for rewards in the Datawallet App Store. The distribution of DXT will also support the launch of Datawallet’s analytics tool DX Insights, and allow developers to create customized services on top of the Datawallet API that are based on opt-in data provided by consumers.
“Serafin’s vision is extraordinary: that people should be able to control and sell their own data,” Draper Associates founder Tim Draper said. “I backed him very early as one of the top students at Draper University, and now his company Datawallet is making this vision a reality. This company looks to lead the decentralization wave in the data space.”
A fixed amount of one billion DXT tokens were created, with a total of 33 per cent being sold for use within the Datawallet app. The Datawallet team will continue to support consumer education in the industry and empower developers to build advanced applications with the tools and resources allotted through Datawallet.
Datawallet investors include Mr. Draper and Salesforce CEO Marc Benioff. Blockchain Association of Canada executive director Kyle Kemper, Shapeshift CSO Michael Perklin, Stanford University professor Guenther Walther, and others serve on its board of advisors.