Filecoin Breaks All-Time Record for ICO Funding

Over a month of activity, the blockchain data storage Filecoin has officially finished its initial coin offering (ICO) breaking the all time record for ICO funding, raising more than $257 million.

Filecoin’s ICO began on 10th of August and raised millions in investements using CoinList, a project developed by Filecoin developer Protocol Labs and AngelList (a startup investment platform). We have to take into account that during the first 60 minutes of the ICO, Filecoin gathered 200 million in Simple Agreements for Future Tokens (SAFTs) – effectively claims on tokens once the Filecoin network goes live.

Today, the ICO ended with approximately $205.8 million raised, but we have to add $52 million collected during the presale. The total surpass the $232 million raised by Tezos during their ICO which took place in july this year.

Filecoin aims to provide a decentralized network for digital storage through which users can effectively rent out their spare capacity. In return, those users receive filecoins as payment.

The second quarter of this year as a whole saw a record-breaking level of activity, with approximately $797 million raised through the funding model during that period.

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Written by Brad Chillum

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