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Running Blockchain with Disney roots is completed

Dragonchain, the blockchain startup, which began as a prototype of Disney, has raised about $13.7 million in initial coin offering (ICO).

04.Nov.17 8:18 AM
By Daria Zaytseva


Running Blockchain with Disney roots is completed

According to the Dragonchain website, during the two-stage sale of tokens, about 30,521 ether and 622.47 bitcoin were sold, which began with a pre-sale in August and ended with the completion of a public sale earlier this week. The preliminary sale itself raised about $1.4 million.

In statements, the company's representatives said that the financing will be directed to development, as well as the creation of a market for Dragon's token.

Dragonchain will distribute all of the 238,421,940 coins intended for the public sale, in proportion to the cost in bitcoin of all the funds contributed in the public offering. The distribution will occur after audits are complete.

There were 5,388 transactions on sale, the average payment of $290.77, the startup said, although it added that it does not have a certain indicator for the total number of participants.

The sale was open to everyone in the world, and it did not restrict the sale to accredited investors and require in any form of identification to participate, according to the site’s often asked questions.

As reported by Business Insider, Dragonchain began as an internal project at Disney in 2014, until the company dropped the project in 2016 and open-sourced its work. Disney is no longer involved in Dragonchain.

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