Factom Raises $140k in First Day of 'Software Sale'

Factom has raised 579 BTC, or roughly $140,000, through the first day of its software sale.

Apr 1, 2015 at 4:32 p.m. UTC
Updated Sep 11, 2021 at 11:37 a.m. UTC
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Factom

Factom has raised 579 BTC, or roughly $140,000, through the first day of its crowdsale.

The blockchain-based record-keeping network launched its crowdsale yesterday at 17:00 UTC on decentralized application platform Koinify, offering 2,000 Factoid tokens (FACTs) for every 1 BTC pledged by prospective users.

The pricing values Factoids at the same initial asking price as Ethers, the token sold during decentralized publishing platform Ethereum's 2014 crowdsale that eventually garnered upwards of $12.7m.

Factom Foundation board chairman David Johnston pointed to the fact that the project had sold more than 1m facts in the first day as another indicator of its success.

Johnston told CoinDesk:

"I believe this first day of software sales for Factom shows there is strong interest in technology that is focused on scaling the blockchain and providing its features of transparency and honesty to whole new categories of businesses."

The $140,000 in first-day sales surpasses the $111,000 decentralised messaging service GetGems raised during the first two weeks of its invite-only sale, the first to be held on Koinify's platform last December.

Upon launch, Factoids will serve as the payment method users will need to communicate with Factom's servers. Factoids will run on their own blockchain within Factom.

The "early bird" period of the sale, during which this introductory price is set to be offered, is scheduled to run through 7th April.

Images via Koinify

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