AICoin, an investment service which leverages off blockchain technology to deliver revenue, has seen its ICO raise more than $3m.
Earlier this year, London-based cryptocurreny business First Global Credit partnered with a team of developers using Artificial Intelligence (AI) trading algorithms to form AICOIN.
AICoin claims to deliver revenue from two different but complementary profit streams.
The first stage uses the funds collected during the ICO to make short term trades in multiple cryptocurrency markets using artificial intelligence models.
It will also use the trading profits to make seed investments in promising young companies in the fields of artificial intelligence and blockchain, either through a traditional equity stake or in the purchase of ICO tokens.
AICOIN, which is built on the ethereum blockchain, has issued more-than 72 million tokens as of Sept 02, 2017, towards the one billion hard cap according to its website.
The subscription options available are Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ethereum Classic.
According to AICoin the value of 100,000 of its tokens (XAI) was equal to one XBT (Bitcoin currency exchange) prior to the start of market trading.
The business is led by Blockchain entrepreneur Gavin Smith, the CEO of First Global Credit. He previously held positions at Trafigura, Credit Suisse, and Aviva Investors according to his LinkedIn profile.
Earlier this month digital asset exchange and conversion platform KyberNetwork closed its ICO having raised 200,000 ETH, while Malaysia-based HelloGold announced plans to raise $9.6m in its ICO.
Copyright ? 2017 FinTech Global
