ZrCoin crowdsale ends at $7 million
A huge thank you to all our supporters over the past month. We have the funding to ensure the ZrCoin project will go ahead and are very excited about what the future holds.
The ZrCoin crowdsale has ended, and we’re pleased to report that thanks to the generosity of our investors we have collected $7 million for our project.
These funds will be used to build the first production facility for synthetic zirconium dioxide, allowing us to pioneer a totally new industrial product as well as a new financial one, in the form of a blockchain-based commodities option!
It was a challenging climate in which to raise funds, though we were helped as much as hindered by the strong bull market that has affected bitcoin and the wider cryptocurrency markets in recent weeks. In addition to cryptocurrencies, we received over $800,000 in fiat relatively early in the crowdsale, giving us a strong foundation to build on. The star performer was WAVES, though, which has appreciated from less than $1 a month ago to more than $5 now. WAVES accounts for around $3.5 million of our total investment at this point.
Overall, the campaign was a great success. We’re now looking forward to getting down to work, building the plant (our progress will be broadcast live via webcam), and ultimately starting production and shipping. At that point, we’ll start making buybacks from the market.
The immediate next step for investors is token distribution, which we will carry out shortly, after we have conducted an audit of all funds collected. Whilst it will probably be 8–9 months before buybacks begin, in the meantime, our investors will be able to transfer and trade their tokens freely on the Waves network. And remember, the buybacks are only one way to see a return on your investment. Down the line, it will be possible to exchange your ZrCoin tokens for shares in our company — something we believe will be a very worthwhile investment to make.
Many thanks once again and congratulations on becoming a part of a new economic and industrial movement!