The token sale will be live for about a month and a half, concluding on July 8. During which, the firm hopes to raise as much as 60,000 Ether (Ethereum’s native currency), or roughly £26 million (at time of writing). They’ll be accepting donations in Ether and Bitcoin (BTC), respectively.
What is Cryptfunder?
So, what is Cryptfunder and why should we care? Well, having watch its promotional video (featured below under ‘What Cryptfunder says’), it seems as though its essentially a platform and ecosystem to help verify the viability and legitimacy of ICO projects.
According to the video, a total of 900 startups conducted their ICOs in 2017, and of these about 300 failed. This level of failure creates ‘fear, uncertainty and doubt (FUD)’ amongst investors and, as such, threatens to damage the credibility of all ICOs, regardless of the strength or merit or the project.
Cryptfunder has created a blockchain-based, decentralized platform that accepts applications from organizers looking to launch an ICO in support of their respective projects. Once approved, Cryptfunder receives a small portion of the successful applicants’ ICO tokens, pre-sale and this supports its own CFND token.
What Cryptfunder says
Cryptfunder (CFND) is a decentralized funding source for startup ICOs and other blockchain companies.
Cryptfunder is committed to fuelling the progress and development of newer and better technologies with the goal of generating value for Cryptfunder, the community, and CFND token holders.
We will essentially be holders of multiple startup ICO tokens before even their pre-sale tokens are available to accredited investors.
The opportunity in this crypto-space is massive and we plan on taking the initiative to garner mass quantities of pre-ICO tokens in exchange for our seed funding.
For more info on Cryptfunder and its upcoming ICO, please refer to the whitepaper