C2B blockchain-based data exchange Datawallet has closed its ICO on its $40m hard cap.
The token sale, which sold 333 million of its DXT token, came after a pre-sale which sold out within 55 seconds and pulled in $8m. Datawallet has created a total of one billion tokens, and 33 per cent have been sold for use in the platform.
Around 65 per cent of the proceeds from the sale will go towards development, and the remaining equity will be used for marketing, admin, legal and contingency.
Investors in to Datawallet include Tim Draper, Salesforce CEO Marc Benioff, Blockchain Association of Canada executive director Kyle Kemper, Shapeshift CSO Michael Perklin, and Stanford University professor Guenther Walther, among others.
The company is a self-sovereign wallet that lets consumers control and monetise their data. The platform lets users link a range of data sources, such as social media, online commerce and offline transactions, to their digital Datawallet App.
Users can earn tokens on the platform by sharing data with companies, and tokens can then be exchanged for rewards on the Datawallet App.
The company hopes the ICO will enable it to launch its analytics tool DX Insights, which will also customers to create customised services on its API.
Datawallet CEO and founder Serafin Lion Engel said, “We are delighted to have achieved this calibre of support to help us develop the project. We plan to aggressively grow the company and the technology, so we can continue to provide the best data application.â€
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