Status ICO Rakes in $100 Million in Less Than 24 Hours

Advertisement

In case you hadn’t noticed, initial coin offerings (ICO) have become a pretty big deal over recent months. New business all over the places are managing to pool huge stockpiles of cash in no time at all – some to the tune of millions, others into the hundreds of millions.

One example being Status, which according to an early projection has stacked up $100 million – $8.5 million of Ether coming from just a single optimistic investor.

“Status is an open source messaging platform and mobile browser to interact with decentralized applications that run on the Ethereum Network,” reads the official blurb from the website.

What’s caught the eye of so many is how this is set to be the first time Ethereum implementation has made is way over to Android and iOS. Which given the reach of these two operating systems is pretty huge to say the least. It’s now widely expected that major brands and developers will soon begin hosting their own DApps on the network created by Status.

Status ICO Rakes in $100 Million in Less Than 24 Hours

But these guys are far from on their own, as any number of similar ICOs are expected to make headline news over the coming months. One of which being TenX, which just made its way out into the open over the weekend for the first time. Others have tried and failed, but TenX came up with an implementable means by which debit and credit cards can be used to spend cryptocurrency on a global basis.

Again, a VERY big deal.

Still, it hasn’t all been smooth sailing and wall to wall success stories. Even the likes of Facebook shelved a similar project to get into this line of business with Facebook Credits – a project that went the way of the dinosaurs in less than two years. The idea being that the newcomers intend to learn by Facebook’s mistakes and succeed where even this global mega-brand couldn’t.

You can find out more about participating in initial coin offerings and the Ethereum Network in general over at Ethadvisor.com.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.