Dragonchain closes ICO on $16.5m

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fintech insurtech wealthtech regtech ai cybertech esg news

Seattle-based blockchain solution Dragonchain Foundation has closed its ICO on $16.5m.

Through the sale, Dragonchain pulled in 30,521 ETH and 622 BTC. The total token supply of DRGNs is a 433,494,437, of which 55 per cent are available to the public.

Dragonchain was initially created by Disney, but last year the company was open-sourced and now operates under the Dragonchain Foundation. The platform helps to simplify businesses integrating applications onto a blockchain, by offering a server-less platform with built-in protection of data.

The solution can also help a company with currency agnosticism, multi-currency support, and tokenisation ecosystems.

Tokens from the sale will allow holders to access the company’s services, project incubation, and professional services to help support start-ups and entrepreneurs building applications on the platform.

There have been a range of deals in the blockchain sector in recent weeks, with Stratumn closing a Series A extension investment from C. Entrepreneurs. Orchid Labs, a blockchain platform created to free the internet of surveillance and censorship, closed a $4.7m round and Pundi X, which is striving to make cryptocurrency payments available to everyone, secured $4m in its pre-ICO sale.

Investments in to the blockchain sector started 2016 by being dominated by North America; however, the second half of the year saw more funding go to Europe. While North America had the most amount committed in the year, this was largely down to the first quarter.

Copyright © 2017 FinTech Global

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