US-based investFeed, a social investment network that recently replaced equities with blockchain based assets, concluded its Token Generation Event (TGE) on Monday. The ICO closed with contributions totalling 15,038 ETH with a market valuation of about $4 million.
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The FEED tokens (IFT), generated through Ethereum-based smart contracts, have already been issued to the near-1000 contributors. investFeed is aiming to deliver an incentivized marketplace enabling the sharing of cryptocurrency investing ideas, peer to peer insights, market analytics, crowd sentiment, breaking news, and integrated asset portfolio and order management.
CEO of investFeed Ron Chernesky said: “The amount of community support we have received over the last two weeks has been unbelievable and only reinforces our drive to deliver the best product we can to the cryptocurrency community. When we sought out to create an incentivized, next-generation social investment network for cryptocurrencies, we placed democracy at the center of our mission. That is why we held our token sale: we understood the importance of placing power directly in the hands of the community. Our development team has built the first version of the platform already and it’s receiving great feedback. We are going to keep rolling out advanced features and unlock new functionality; it’s now time to turn this vision into a reality.”
“The strong level of participation reflects a significant market need for a one-stop shop for investors and financial market professionals migrating from the relatively low yield world of stocks, bonds and real estate, to the exciting new world of cryptocurrency. Traditional investors, high-net worth individuals and cryptocurrency enthusiasts now have a better way to participate in, learn about, and benefit from the growing industry, one that we think is primed for extremely rapid ascension across the next decade,” Chernesky added.