Cryptocurrency wallet Breadwallet has closed its ICO on $32m, hitting its target during the eight-day sale.
The Bread token sale saw $12m raised from the pre-sale and the remaining $20m pulled in during the public sale. A minimum spend during the sale was 0.5 ETH, with 1 ETH equalling 900 BRD. All buyers were subjected to a KYC verification check.
Bread is a wallet-based rewards program, where the BRD tokens unlock a series of perks such as discounts, exclusive access to premium features, and a ‘white glove service’. A token can be earned through promotions, giveaways, surveys, and automatic airdrops for frequent users.
Tokens can also be used for a range of traditional banking means, including deposits, payments, savings, P2P lending, digital asset investing, token trading and money transfers.
This ICO comes hot off the heels of Bread’s $7m funding round, which saw contributions from DAS Capital, East Ventures, Globe Advisors, Liberty City Ventures, Maffin, OKWAVE and Saison Ventures. Capital from the funding round was set to be used for support in establishing its Switzerland headquarters, as well as product expansion.
Earlier this week, P2P cryptocurrency lending platform Etherecash raised $40m through its ICO, which had contributions from more than 46,000 investors. This week has also seen ICO HeadStart close its ICO pre-sale on $10.8m. The company is a fundraising platform for ICOs, to help investors back secure and complaint token sales.
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