MobileGo, EncryptoTel and more bring millions of dollars to Waves platform
A year out of the gate, and the Waves platform has already attracted multiple huge ICOs, with many millions of dollars collected in total and many more to come.
Waves was always conceived as a mass crowdfunding platform. The ability to send money all over the world, practically instantly and at almost zero cost, makes the blockchain the ideal way to secure investment. But until now, there hasn’t been a platform that makes the administration side of things simple and intuitive enough to catch on.
Waves changes all that, with its straightforward token creation and user-friendly wallet — as well as its integrated exchange, where it’s possible to trade any pair of tokens directly and in realtime.
MobileGo: $8 million and counting
The proof of Waves’ enterprise-ready status is the crowdsales that are now flocking to the platform. MobileGo is the latest project to launch its crowdfund on Waves. In the first 24 hours, it collected a massive $6 million — one of the largest crowdsales of 2017 to date — with at least $10 million expected by the end. In this instance, the token will exist on two blockchains, switching between Waves and Ethereum via a new piece of tech called BlockSwap.
MobileGo is one of the hottest and keenly-anticipated crowdsales of the year, due to its strong team and self-evident use case. It’s designed to drive forwards cryptocurrency adoption within the gaming sector, where — thanks to the frictions and inefficiencies of the legacy banking sector — gamers have countless problems moving money around. Delays, high costs, blocked transfers, deposit limits: all are solved by the application of cryptocurrency, making MobileGo an attractive new entrant into the $100 billion gaming sector. MobileGo will use Waves tokens and DEX for easy administration and trading, whilst Ethereum provides the smart contracts for decentralised gaming tournaments.
MobileGo might be the largest Waves crowdsale so far, but there have been other seven-figure raises, with loyalty programme Incent pulling in $1.1 million at the end of 2016. Secure VoIP and business telecoms company EncryptoTel blasted through its $1 million target in under a day, and is now poised to pass $2 million. Meanwhile agricultural project Kolionovo — which might have been written off as a niche initiative — secured more than $500,000. And there are many more in the works, as new businesses learn about the platform and realise that they don’t need any major technical expertise to run a crowdsale on it.
In fact, it’s possible to set up a basic ICO in just five minutes, by creating a new token and placing a sell wall on DEX against BTC, WAVES or any other supported currency, including USD and EUR. Right now ZrCoin, an industrial application, is preparing to crowdfund a minimum of $3.5 million, with a target of $7 million. Interest in the platform has been intense, ever since it ran its own $16 million crowdfund last summer, but especially since token facilities were released and the DEX and bitcon/fiat gateways launched. All the pieces are now in place to make decentralised crowdfunding possible.
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