Blockchain-based Job Platform Blocklancer Reached Pre-ICO Cap in Just 3 Hours

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by Polina Chernykh · 3 min read
Blockchain-based Job Platform Blocklancer Reached Pre-ICO Cap in Just 3 Hours
Photo: Hamza Butt / Flickr

Following a successful completion of the pre-sale, the blockchain startup is now preparing for an ICO that is expected to launch in the upcoming months.

Blocklancer, a new blockchain-based job platform, has announced it managed to reach its ICO pre-sale target in the first few hours since the launch.

The startup began pre-sale on September 7 with an aim of collecting a maximum of 500 ETH. Although initially planned to continue until September 21, the pre-sale was met during the first three hours.

To enable more investors take part in the project, Blocklancer decided to raise the cap to 1,000 ETH, which was reached during 72 hours since the launch. In total, 221 investors participated in the pre-sale, while an average contribution totaled 90,400 LNC per Tokenholder.

According to Blocklancer, the company wants to raise $50 million in an upcoming ICO that will begin in November-December 2017. The holders of Lancer tokens will be able to vote on platform disputes, earn 100% of the 3% contract fees on completed jobs, as well as determine the future development of the platform.

Freelancing is one of the most rapidly growing markets in the world. There number of freelancers has almost doubled over the last ten years, rising from 30 million to 55 million. The Blocklancer team is aimed at changing the way market works by solving significant problems of the current job platforms, including payment security, unlimited centralized power, and high fees.

Blocklancer is expected to become the first distributed autonomous job market capable of competing with leading freelance platforms like Upwork, Fiverr, and Elance-oDesk. It is a completely self-regulatory system, allowing both customers and freelancers easily cooperate with each other.

“Most of the decisions made on our platform are in the hands of the Tokenholders, which means that there won’t be one single authoritarian instance with an uncontrollable amount of influence on the market. This effectively puts the power in the hands of the Tokenholders, giving Freelancers and Clients a more fair way to transact,” the company says.

Recently, the People’s Bank of China announced a ban on all ICOs in the country. The central bank demanded domestic startups to stop their fundraising campaigns and to return money to the contributors. As Blocklancer wrote in its blog post, it has not been affected by the China’s regulatory move. The company is based in Austria and doesn’t have any business relations with Chinese entities.

“Blocklancer is not affected, because our token cannot be seen as a financial instrument or security,” the company wrote. “We are actively developing a cryptoeconomic freelancing platform and the token plays an essential role in our environment. Moreover our platform will be rolled out soon. Blocklancer is NO scam and therefore is not a target for any authorities.”

Blockchain News, News, Token Sales
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