SONM’s ICO nets $42m in only four days

Blockchain platform Supercomputer Organised by Network Mining has completed a $42m ICO in just four days.

The token producer attracted 8,774 participants and debuted its trading on HitBTC and EtherDelta, according to various media reports.

Just over 331 million tokens were minted in this ICO and following this ICO now new coins will be made by the company. SONM’s tokens are based on the Ethereum blockchain.

A third of the proceeds from the sale will be used for marketing promotion, growth and community expansion, the reports state.

The capital will also be used for research and development, hiring more staff and further work to its technology infrastructure, according to the articles.

Copyright © 2017 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.