Blockchain entrepreneurs are reportedly raising more money through initial coin offerings (ICOs) than traditional venture capital investments, while h
Blockchain entrepreneurs are reportedly raising more money through initial coin offerings (ICOs) than traditional venture capital investments, while highlighting the results from their report named Q1 2017 State of Blockchain.
So far in 2017, blockchain start-ups have received $327 million through ICO offerings. This exceeds the $295 million raised through VC funding, as CoinDesk`s data revealed.
ICO investments has reported grown over 800%, whereas coming up front venture capital funding.
It is speculated that ICOs will continue being a leading fundraising mechanism as there is an investor and entrepreneurial demand, as well as limited regulatory guidance.
What else is happening in the field?
Other major trends in the field include (but are not limited to) the following:
- Aggregate cryptocurrency market cap hits all-time high of $25bn as every top 10 asset rallies.
- Bitcoin used more than ever with over 287,000 transactions per day, leading to .92 MB blocks and $0.62 transaction fees.
- Ethereum gains $3.6bn or 500% in market cap as transaction numbers rise and enterprises display interest publicly.
- Hyperledger grows in enterprise membership, proofs of concept and frameworks, Enterprise Ethereum Alliance launches with industry leaders and a vision of interoperability between permissioned and public ethereum.
- Blockchain venture capital totaled $107m, ICOs totaled $36m with several major deals on the horizon.