Venture Capital firm Krypton Capital has invested in the pre-sale of the hyped initial coin offering (ICO) of the blockchain startup, Fusion. Fusion is the brainchild of Dejun Qian, who also created the popular blockchain firms QTUM and VeChain.
The team behind Fusion is aiming to create a cross-platform exchange and financial ecosystem leveraging the Ethereum blockchain. The platform will allow the users to securely control their private keys while participating in a smart contract.
Krypton is a venture capital firm that invests primarily in fintech and blockchain ventures. Cryptovest quoted Krypton Capital’s founder and CEO Ilan Tzorya: “We have faith in the Fusion team, and the product they are building. We believe Fusion will earn its rightful place at the top.”
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Fusion’s token sale closed on February 11, 2018 with the firm raising over 126,000 Ethereum tokens worth approximately $104 million. The crowd sale was oversubscribed at 2.5 times its predetermined cap.
Dejun Qian, founder of Fusion commented: “We are entering an exciting new era of ‘Internet of Values’ which promises increased connectivity and inclusiveness.”
“However, the benefits of the Internet of Values are currently thwarted by interoperability, scalability and usability issues within the various blockchain ecosystems, all of which combined have hindered this technological progress. FUSION aims to remove these barriers, ushering in an age of a true digital economy,” he added.
Addressing the successful crowdsale, Dejun Qian noted: “Fusion has a strong community backing it, because of the different features our public blockchain offers. Rather than our crowdsale hitting its cap because of a small number of large ‘whales’, we have the support from a community that truly believes in the project we will build, and that’s just as much as a success as raising $50 million.”