Nowadays, Initial Coin Offerings take place daily. New projects come to light often and the community seems ready to invest in them! Ever since the inception of Ethereum, most of the projects that are worth mentioning are developed and deployed on the Ethereum blockchain which allows the creation of smart contracts and dapps. This has the advantage of not having to create and maintain a new blockchain which requires updates, miners, and more.
Two of these Ethereum projects have completed their crowd sale period recently with a speed that would leave any investor baffled. The two projects we are talking about are FirstBlood and Singular-DTV. These two projects, independent from one another, have managed to gather millions of dollars in seconds/minutes.
The FirstBlood Crowd Sale took place on the 26th of September and sold out in seconds. The project consists in the creation of an eSports betting platform that allows users to test their skills against one another in popular eSports video games like League of Legends and to win money while doing so. FirstBlood separates itself from other eSports platforms through its decentralized model that ensures that no middleman manipulation is taking place. The platform is also more cost efficient as it does not require users to make traditional money transfers, as the platform is fueled by FirstBlood’s value tokens, 1ST. During the Crowd Sale, First Blood exchanged 79,103,203.391 1ST tokens for 465,312.999 ETH, worth around $6.2 million in seconds, an impressive feat that had a bit of help from the Chinese exchange, Yunbi, that bought half of the token supply and has added 1ST tokens as a supported pair.
The Singular-DTV Crowd Sale took place on the 2nd of October and sold out in 15 minutes. Singular-DTV is a decentralized TV and film content production and distribution platform that aims to make the entertainment industry more transparent and efficient using blockchain technology. By crowdfunding the project, S-DTV distributed 500m SNGLS tokens, which represent a share in the Intelectual Property owned by Singular-DTV, meaning that the profits generated by distributing content through their Transactional video on demand (TVOD) Portal and from the Rights and Royalties Management Platform will be distributed by the SNGLS token holders. During its 15-minute crowd sale, which was supposed to last for a month, Singular-DTV managed to gather 580046.403712 ETH (worth around $7.8 million) in exchange for half of the tokens supply, 500m SNGLS. Since the token launch, Bittrex has added SNGLS to the list of supported tokens, a fast addition that surprised the whole crypto community.
These two record breaking projects are example of how successful Ethereum can be, as a hub for new blockchain projects. This is not the first time Ethereum has broken a record, before the fastest crowd funding campaigns, Ethereum was also host to the biggest crowdfunding campaign of all time, The DAO which despite turning out badly, it proved how successful an Ethereum project can be.