The 11 biggest ICO fundraises of 2017

LONDON – 2017 was the year the initial coin offering (ICO) went mainstream.

The fundraising method, first pioneered by Ethereum in 2014, was little used up to the start of this year but it has been widely taken up in 2017, eclipsing venture capital as a means of raising money for blockchain startups. Over $US3.5 billion was raised through ICOs last year.

ICOs are where startups issue their own digital currencies, structured like bitcoin. These tokens, which can be traded online despite the company being private, are sold for real money that startups then use to fund their projects.

Off3r, a website that lets people compare and contrast investment opportunity, rounded up data on the 11 largest ICOs of 2017.

Here are the ones that made the list:


11. SALT — $US48 million

Total raised: $US48 million.

ICO date: August.

Company location: United States.

What it does: Lets you use cryptocurrencies as security for fiat currency loans.


10. WAX — $US68 million

Total raised: $US68 million.

ICO date: November.

Company location: United States.

What it does: Offers technology that lets people set up online marketplaces at no cost.


9. TenX — $US80 million

Total raised: $US80 million.

ICO date: June.

Company location: Singapore.

What it does: Cryptocurrency debit card.


8. Kin — $US98 million

Total raised: $US98 million.

ICO date: September.

Company location: Canada.

What it does: Cryptocurrency for video messaging app Kik.


7. Qash — $US106 million

Total raised: $US106 million.

ICO date: November.

Company location: Tokyo.

What it does: Aiming to be a payment token for financial services.


6. Status — $US107 million

Total raised: $US107 million.

ICO date: June.

Company location: Switzerland.

What it does: An interface that makes it easier for people to use ethereum.


5. Polkadot — $US145 million

Total raised: $US145 million.

ICO date: October.

Company location: Switzerland.

What it does: Technology allowing people to use multiple blockchains at the same time.


4. The Bancor Protocol — $US153 million

Steve Jennings/Getty Images for TechCrunchBancor Protocol Co-Founder and Head of Product Eyal Hertzog.

Total raised: $US153 million.

ICO date: June.

Company location: Israel.

What it does: Decentralized liquidity technology for ethereum.


3. Sirin Labs — $US157 million

Total raised: $US157 million.

ICO date: December.

Company location: Switzerland.

What it does: Plans to build a blockchain-based smartphone.


2. Tezos — $US232 million

Total raised: $US232 million.

ICO date: July.

Company location: United States.

What it does: A new blockchain aiming to be more reliable than bitcoin or ethereum.


1. Filecoin — $US257 million

Screenshot/YouTubeFilecoin founder Juan Benet.

Total raised: $US257 million.

ICO date: September.

Company location: United States.

What it does: Blockchain-based data storage.

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