The end of the Safeguard Token
In this article, we provide an overview of the current status of the Safeguard Token project.
In 2018, we launched a token sale to raise funds in order to build the Safeguard Protocol: a blockchain-based framework for artificial intelligence software that aims to predict and prevent workplace accidents.
We raised about 4900 NEO within the first day. Soon after, however, our momentum dipped in line with the poor market conditions at the time, and we have only raised a negligible additional amount since then. Our goal was to reach €750.000, and we managed to get €250.000 at that time. Considering the market sentiment of the past eight months, this could have been worse.
What’s happened since then?
The good news is that over the past months, we have been working under Startupbootcamp’s acceleration program, ‘Smart City & IoT’. We were selected for this program out of a pool of over 400 startups, which you can read more about here.
In these past months we have met a huge amount of interesting people, most of which are working on really exciting projects. Apart from that, we’ve been able to do an extensive amount of networking in investor circles, being introduced to a broad range of VC and Angel investors.
Based on the success of these interactions, we are pursuing a new path in our mission of making workplaces safer.
With this factor and various other reasons in mind, we have decided to cancel our token sale.
An operating business
Unlike many Blockchain and cryptocurrency projects out there, we came into the space with an existing business.
‘Safeguard’, our application for organizational safety management, has been in the market since the end of 2015. It has been helping large organizations like Ingram Micro, BAM, and the Johan Cruyff Arena with the everyday management of their personnel safety.
Despite the SGT token sale project not reaching the milestones we had hoped to achieve, the past few months have been overwhelmingly positive for our core business, Safeguard.
For starters, we grew our number of enterprise-level clients from less than 5 to over 50 over the past year.
Refunding token sale participants
If you have participated in our token presale, we will refund you the NEO that you put in. You have the time to apply for a refund until 31–01–2019 after that the funds will be kept by us.
If you participated in the SGT presale and would like to claim your refund, please fill in the form here.
Regarding the bounty campaign that we ran, we unfortunately will not be able to distribute the allocated tokens to bounty participants, as we won’t be launching the Safeguard Tokens to begin with anymore.
Overall, the token sale process that we went through has been one of immense learning. We have met great people, learnt many interesting things, and gained lots of traction in the fulfillment of our vision. Most importantly, we have stuck to our integrity; turning away opportunities of financial success that came at the expense of a truly community-focused ecosystem.
For any questions, whether they’re about our token sale ending, or about our equity fundraising round beginning, please don’t hesitate to get in touch.