Blockchain Startup Qtum Raises Over $15M in Just Five Days of Token Crowdsale
| Updatedby Tatsiana Yablonskaya · 3 min read
The Qtum Foundation has conducted one of the most successful crowdsale campaigns having sold $10 million of its tokens in the first 90 minutes.
The Qtum Foundation entered the list of all-time top 10 blockchain-token crowdsale campaigns having raised over $15 million in a record five days. Initially, Qtum planned to continue the crowdsale for a month. The very first day started successfully – Qtum sold $10 million of its tokens in a mere 90 minutes. Just to compare, it took Ethereum 42 days to raise $18 million.
“The QTUM crowdsale is officially over after 117 hours since it kicked off. The Qtum Foundation would like to thank everyone for the support. This crowdsale would not be successful without you. We understand you put the trust in the Qtum team by participating in the crowdsale, and it will only encourage the team to work even harder to launch the Qtum mainnet as soon as possible”, the company addressed the persons concerned.
“We will make sure that all the BTC and ETH raised in the crowdsale will only be spent on moving the Qtum project forward. The Foundation will put in place internal controls to ensure all expenditures are approved, supported, and external monitoring practices will also be implemented. The next four years will be a tough journey for the team, and we are committed to building Qtum as a global blockchain platform. This is just the beginning.”
Qtum has managed to raise over 11,000 bitcoins and 75,000 ether (ETH) in exchange for the 51 million Qtum tokens being distributed to the public. Qtum chose not to send tokens to a single crowdsale address. Instead, it enlisted six cryptocurrency exchanges/crowdfunding portals to conduct the sale in a coordinated fashion. The list of the websites participating in the campaign included Bizhongchou (bizhongchou.com), Yunbi (yunbi.com), ICOAGE (icoage.com), Allcoin (allcoin.com), ICO365 (ico365.com), and BTC9 (btc9.com).
“We are confident that we can finish what we originally started a year ago. We hope our supporters can work with us to build the greatest blockchain platform for enterprise and consumer use cases. There are so many possibilities for the blockchain industry, with Qtum, we are just at the beginning of a long journe”, Patrick Dai, co-founder of the Qtum Project, states.
Qtum unveiled that it will allocate the token supply in the following way. 51 percent of QTUM tokens (51 million) will be distributed through the now-completed crowdsale with funds raised intended to finance the development, administration, marketing, and financial/legal consulting of Qtum Foundation for the next four years. 29 percent of QTUM tokens (29 million QTUM) will be allocated to community initiatives concerning business development, research, education, and market expansion and the rest 20 percent (20 million) will be distributed among founders, early backers, and the development team.
“Since we began this project, I have been excited about its premise. Now, this excitement has been validated and shared by thousands of backers. Qtum will bring about a new blockchain and smart contract revolution and will bring together the many disparate communities into one common goal of action”, Jordan Earls, co-founder of the Qtum Project, says.
Qtum has also unveiled a new partnership with one of the leading professional service providers, PwC, which is expected to fuel blockchain adoption across global business sectors.
