Swarcoin Crowd SaleSwarm which was formed on 17 June, aims to make 100 million Swarmcoin available in a limited-time crowd sale running until 20 July, has raised more than 1200 Bitcoins in just eighteen hours of crowdfunding.Swarm Corp is launching a decentralized crowdfunding platform that will allow companies to sell cryptographic shares easily and quickly by creating their own digital currencies.
Swarm’s COO Ben Ingram described the platform as “the Facebook of crowdfunding”.Powered by the Counterparty protocol, it effectively operates like a social network for cryptocurrency investors.Crowdfunding is the collection of finance from backers, generally, the ‘crowd’ to fund an initiative and usually occurs on Internet platforms.The collection of more than 1200 Bitcoins in just eighteen hours in crowdfunding shows that people are enthusiastic about the digital currencies as they hope the future is with them.Now, every holder of Swarmcoin will share in the success of future projects launched on the Swarm network.The effort from Swarm is in consonance with similar efforts by some other digital currency companies.
However, according to their FAQ, "there is no legal entity that represents the Swarm. This will certainly come at a later stage said Swarmcoin. Our goal is to postpone dealing with any of these issues until there is need".It has emerged as a suitable concept of an individual reaching a goal by receiving and leveraging small contributions from many parties.The collection of funds through small contributions from many parties in order to finance a particular project or venture is emerging as the right option for cash crunched digital currency companies.This not just gives funds to the digital currency company but also hopes to thousands of investors who come along and pay their bit.
Cryptocurrency companies that are the nascent stage are now using crowdfunding method quite successfully.Cryptocurrency Companies and CrowdFundingRemember MaidSafe, the decentralised internet platform builder, has announced that its crowdsale took in 7,348 bitcoins and 51,000 mastercoins which represented about $5.3 million (however the value of mastercoin has dropped since then).Even with the price drop, MaidSafe said this represents "the most that has ever been raised in two days in the history of crowdfunding." The money raised will go towards software development.
Safecoin is the crypto currency of the Secure Access For Everyone (SAFE) network. The initial sale of Safecoins by MaidSafe, creators of the fully decentralized platform SAFE, began Tuesday, 22nd of April via purchase of a proxy token called MaidSafeCoin. Safecoins worth $6 million were sold within 5 hours of the opening of the sale.Backers and investors will be able to exchange their MaidSafeCoins for safecoins once the SAFE Network is launched, and they will also be able to trade your MaidSafeCoins immediately upon receipt at exchanges that support MaidSafeCoin. MasterXchange is an exchange that will support MaidSafeCoin immediately once the crowd-sale has begun.However, despite its successful crowdfunding, Safecoin is trading under its IPO price around $0.014.
