Crpyto Data Feed Platform Santiment Raises $12.215 Million in Token Crowdsale
Santiment, a data feed platform that provides information about crypto-markets, recently closed its two-stage token crowdsale, raising a total of $12,215,250 worth of ETH. Santiment also raised 32,000 ETH in a preliminary community sale, followed by a pre-sale facilitated by Cofound.it’s Priority Pass community that raised 13,000 ETH in less than 60 seconds.
“Now that the offering is complete, we can accelerate our mission to give crypto critical information packaged in an ideal interface so that traders can make optimal data-driven decisions in rapidly-surging markets,” said Santiment founder Maksim Balashevich. “We are immensely grateful for the support of our community. Their support makes our quest to deliver data and analytics to the crypto-markets possible.”
Santiment has become the first project to partner with Cofound.it, a platform that incubates startups planning crowdsales.
Crowdsale Cap Reached
The crowdsale began with a community sale on July 4, 2017 for its most engaged supporters, followed by a sale via Cofound.it’s Priority Pass community on July 5 that reached the overall cap. Because the crowdsales reached the overall cap, Santiment will not hold its public crowdsale which was planned for July 6.
“The highly successful sale will help to establish Santiment as the leading data feeds platform for the crypto community and mature the rapidly growing crypto-market,” said Cofound.it CEO and co-founder Jan Isakovic. “Cofound.it is delighted to have partnered with Santiment in their crowdsale process, and cemented Cofound.it Priority Pass as a best practice for crowdsales in 2017.”
An Investment Tool
Santiment gives investors a way to identify and avoid suspicious crowdsale projects. Using objective data feeds, Santiment provides investors an open database of projects, giving them trading advantages and minimizing their investment risk.
Santiment will focus on assisting three consumer bases: wealth and hedge fund managers, data vending channels and novice crypto traders. Wealth and hedge fund managers will leverage the platform to obtain a variety of data feeds for quantitative trading.
Data vending channels, including exchanges like Bittrex, Bitfinex and eToro, as well as asset management platforms like Melonport and ICONOMI, will benefit from real-time data solutions to help them with trading.
Novice traders can use Santiment to obtain easily understandable market insights and trends.
Proceeds To Be Distributed
The funds will be distributed as follows: 50% to develop data feeds, 15% for service acquisitions and data feeds, 15% for business development and marketing, 10% for operations, 5% for legal expenses, and 5% for a reserve fund.
The SAN token provides exchanges and users access to feeds. SAN is the only means for accessing auctions of exclusive content related to the token sale, market research, team analysis, project due diligence and country-specific regulations.
Non-exclusive services will be available via subscriptions payable in fiat currency.
Santiment has already developed a working app to provide historical price charts, a journaling game and trollbox sentiment feed, Balashevich said.
“Moreover, the crowdsale places Santiment in prime position to establish itself as the financial market data and content platform of choice for the cryptocurrency and blockchain space, comparable to the position that Bloomberg and Thomson Reuters hold in traditional financial markets,” he said.