Fractional offeringYou can now trade high-demand stocks like Tesla, Apple and Amazon, represented by tokens, on the FTX derivatives exchange.
Token saleThe Graph, a data-indexing protocol used by many popular decentralized finance applications, has raised $12 million in a public sale of its native GRT token, CoinDesk's Zack Seward reports.
With approximately 4,500 buyers, the sale used in-house technology to distribute some 400 million GRT tokens.
The firm previously raised $5 million in a private token sale involving Coinbase Ventures and a $2.5 million seed round led by Multicoin Capital.
An Algorand-based micro equity exchange has launched a token tracking top tech stocks including Microsoft, Apple, Tesla, Twitter, Amazon, Netflix and Google.
Tokens risingFollowing the pop of initial coin offering bubble that began in 2017 and tapered off in 2018, many looked at token offerings skeptically.
Unlike the original ETH sale in 2015, and the 2017 copycats that followed, many token founders now prefer ongoing sales with controlled distribution - meaning geofencing regions where investments may prove to be an issue.
Halfway through the past year Ava Labs's Avalanche blockchain raised roughly $42 million in a public token sale.
Then there's Dapper Labs, which closed an $18 million token sale in early October.
Notably, all these projects had already raised significant venture funding, often conducting a private sale, before turning around to publicly list their tokens on a gated platform that manages know-your-customer information and compliance.
Blockchain Bites: Coinbase's Card, Avanti's Approval, FTX's Fractional Stocks
Published on Oct 29, 2020
by Coindesk | Published on Coinage
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