Who in Russia makes loads of money? Which Russian startups attracted millions?
ICO helps start-ups attract millions of dollars for surprisingly short periods of time (from several months to several minutes). Russian start-ups got a taste of the initial coin offering and are actively trying to attract financing to their projects. Bitnewstoday.com has made a survey of the largest ICO of Russian companies.
The fastest
A recognized leader among Russian projects (to be more precise, among the projects with Russian roots) that launched ICO, is the SONM project, which is developing a fog supercomputer platform (similar to blockchain-based cloud platforms). SONM impresses not only with the amount of funds attracted (42 million dollars - currently the third result among Russian projects), but also with the time spent to raise this money - only three days.
The project's founders plan to spend the collected funds on product promotion, research, development of the technological infrastructure.
According to Coinmarketcap, the capitalization of SONM tokens is 47.5 million rubles (as of October 9), one coin is worth 0.12 dollars. The cost of the token compared to the date of entering exchanges has decreased almost 3.5 times.
Pic. 1 Dynamics of SONM token price
Source: Coinmarketcap.com
Gamers rule
The project MobileGo has raised the largest amount through ICO in Russia. It attracted 53 million dollars over a couple of months this spring. However, this is almost 9 times less than the amount collected by the world record holder among the projects launched with ICO - the EOS platform.
The project is developing a virtual decentralized platform within the mobile platform Gamecredits. At this site, gamers will be able to sell and buy various attributes of mobile games (for example, equipment of game characters, virtual equipment, etc.). And they can pay each other with a cryptocurrency.
During fundraising, MobileGo promised to give discounts to the holders of the tokens. According to the project's whitepaper, it was planned to release 100 million tokens, 70% of which would be available to ICO participants. The rest of the amount was promised by the developers to be spent on marketing, attracting new employees, etc.
According to Coinmarketcap, at the time of writing, the capitalization of MobileGo tokens was $ 53.9 million, while more than 98 million coins were in circulation. One MobileGo was worth 0.52 dollars, which is almost 5 times less than the cost when it entered exchanges (according to Coinmarketcap - on June 11, 2017).
Pic. 2 Dynamics of MobileGo token price
Source: Coinmarketcap.com
Unreasonable hopes of Marinichev
Another major Russian ICO is the Russian Mining Center (RMC) project that raised $10 million less than MobileGo ($ 43.2 million). It is worth noting that when the project owner, the Internet ombudsman Dmitry Marinichev, hoped to beat all ICO records among Russian companies by raising $100 million. His dreams failed to come true, but the project still managed to attract a good amount.
According to the presentation of the project, the funds will be invested in the development of a more powerful processor designed to make mining more efficient and to launch the production of improved mining farms.
People spent $30 million on developing flexibility of investment funds.
Another notable Russian project, released on the ICO, is Blackmoon Crypto, which raised $30 million to create a platform capable of tokenizing investment funds, including traditional ones.
According to Coinmarketcap, the capitalization of Blackmoon Crypto (BMC) is 23.4 million dollars. There are more than 30 million coins from 60 million possible in circulation. One coin was worth 0.81 dollars on October 9. Since entering exchange (according to Coinmarketcap - September 20), the token has fallen in price by 5 cents.
Pic. 2 Dynamics of Blackmoon Crypto (BMC) price
Source: Coinmarketcap.com
KICKICO project can also be singled out in the list of record-holders. It collected $20 million over 2.5 weeks. The project is engaged in the development of crowdfunding. It is noteworthy that the funds were collected to create a site that would allow other projects to raise funds.
Examples of these ICOs can turn heads to many start-upers and lead to the idea that it's easy to collect millions of dollars. However, when going to place tokens, it is necessary to remember about the failed projects. But this is the topic for another article.