ICO News: To Launch a Token Sale, Issuers Must Be Clever as an AirFox ICO
The AirFox ICO had all the makings of a television drama, with rescheduled launch dates, anti-money laundering efforts and an oversubscribed status that left some investors denied.
For a public token sale that was rescheduled and a team that had to regroup before eventually getting off the ground, the AirFox ICO didn't have any trouble drumming up demand. The b-to-b wireless startup, which seeks to democratize mobile internet technology for developing nations, raised USD 15 million across more than 2,500 participants in its AirToken (AIR) pre-sale.
Demand for the AirFox ICO was even stronger but the startup reached its funding capacity. Some users took to Twitter claiming to have sent in their Ethereum and missed the sale, wondering whether they would be refunded for their cryptocurrency.
It's almost a miracle the AirFox ICO ever took place, let alone raised millions. The startup had launch dates that were scuttled amid "anti-money laundering guidance" from regulators. Thousands of participants on the AirFox platform had to be removed for not meeting compliance standards. Some of those who were declined were reportedly located in Afghanistan and China.
AirFox officials said in a post: "Delays in the [token generating event] were caused by our strict efforts to comply not only with the changing regulatory landscape but also [know your customer] and [anti-money laundering] requirements with larger exchanges."
AirFox ICO Targets the Unbanked
AirFox, which was co-founded by Google alum Victor Santos and incubated at the Harvard Innovation Lab, is designed to make mobile internet accessible to developing nations but in some ways the startup more closely resembles a bank.
They are targeting the unbanked just as much as they are those without internet, providing both internet access and financial services to segments of the population who can't otherwise afford it. Funds from the AirFox ICO will be directed toward creating micro loans and expanding into emerging markets.
AirFox builds on the Ethereum blockchain using a digital ledger technology comprised of a user's mobile data, ads and other algorithms. Prepaid mobile subscribers earn AirTokens by engaging with ads and can then redeem those tokens for mobile data or to direct the mobile data to someone else.
The AirFox ICO was poised to attract more than USD 35 million based on sign-ups prior to the reorganization.
Close Oops! You had already voted for this argument.
0 Brokers added for comparison:
Comparing brokers
Writing great reviews helps others discover the providers that are just right for them. Here are a few tips:
Be informative and insightful: Be specific and relevant to the provider you’re reviewing, and describe what other users are likely to experience.
Keep it real: Be authentic. Review your own experience, and explain why you liked or disliked the provider. Try to be as accurate as possible, and include both the positive and negative aspects of your experience.
Be respectful: Not every experience with a particular provider is going to be perfect. Sometimes you’ll want to share negative feedback. Even if you’re frustrated, make sure your criticism is constructive. Business owners often use feedback to improve their offerings.
Write with style: People will pay attention when you write thoughtful reviews. Keep them readable and avoid excessive capitalization or punctuation. Use good grammar, check your spelling, and avoid profanity. Choose the right length - a paragraph is great. Be creative and have fun!
Before you go:
You probably want to see our latest guides & reports
-
Equities
-
Equities
-
Equities
No comments:
Post a Comment