4 Prominent Companies Considering an ICO
The unprecedented success of the initial coin offerings has forced the investors and institutions to take a favorable view of the cryptocurrency market. Over the last few months, the regulatory resistance to the crypto-market and its disruptive products is diminishing. As a result, more and more companies and big names are inching towards the adoption of blockchain – the technology behind the cryptocurrencies and solutions.
Taking inspiration from last year’s success stories of Bancor, EOS, Tezos, and FileCoin, some big corporate players have decided to move towards blockchain in 2018. Here are their brief profiles and intentions towards using blockchain.
This is an excellent example where a company with extensive market coverage and deeper penetration has decided to fund their entry into blockchain space. After years of leading, and then falling behind the photography industry, Kodak has decided to try the luck with the launch of KodakCoin. The token will be used to drive a platform that tracks and monetizes image ownership and usage rights on the internet – an excellent idea indeed. The company has recently filed with the SEC and started a licensing arrangement with partner company; WENN Digital.
Overstock is not unknown in the online retailing and cryptocurrency circles. It was one of the few companies that started accepting bitcoin as a payment method four years ago. The choice was a prophetic one for the company as bitcoin’s increasing value also helped them in a stock boom in parallel. The ambitious CEO Patrick Byrne wants to turn Overstock from a retail company into a blockchain one through an ICO – as he aspires to raise over $250 million to fund his new platform and cryptocurrency tZERO.
The company has already raised over $50 million during the pre-sale but suffered a blow when SEC started an investigation into the tZERO. As a restful, their public sale has been extended to attract more investors and raise the desired capital.
In an age where privacy is a big concern – Telegram has come up with a solution. They’ve come up with a mobile chat application that allows users to talk with each other, and none of their data is unencrypted, stored, or shared with third parties (or even governments). Owing to the same utility, Telegram has been immensely popular popularity since launch in 2013. Capitalizing on its own popularity and deeper market penetration, Telegram is now trying to create a history by going for the biggest ICO ever. If all goes according to the plan, Telegram’s ICO will be a record as the company intends to raise a staggering $1.2 billion from the token sale. They intend to use the blockchain technology to improve security and introduce a safe payment functionality – named as Telegram Open Network.
Ask.fm is an exceedingly popular internet destination with over 215 million users. Visitors can ask questions on the platform and read answers from people around the world. There are rumors that the company is considering an upgrade, and may heed towards an ICO in the near future. The company’s “AskFM 2.0” upgrade has been displayed on the website with little additional information. However, if whispers are to be believed, it could involve some sort of token-based incentive system. Even better, it would suggest that Ask.FM is happy to let users decide the best content providers through a more dynamic and equitable ecosystem.