Blockstack Completes Its Token Sale

Blockstack is a project that I’ve been writing about recently. You can find my last article here and it links to previous articles.

If you’re unfamiliar with Blockstack it’s a new internet for decentralized applications. Users are back in control of their own data. And all you need to start is a web browser.

Blockstack just completed its initial coin offering, raising $52.8 million by selling 440 million tokens.

The tokens will be used in the Blockstack ecosystem once they release the Stacks protocol sometime in 2018. No official date has been set.

There was a number of notable investors that participated in the token sale.

One was Union Square Ventures, the venture capital firm. Led by Fred Wilson, they manage over $1 billion in assets. And they’ve had a number of notable exits including Zynga, Tumblr, Twitter, Lending Club, and Twilio.

Also investing was Blockchain Capital. They’re already involved in a number of notable blockchain projects including Abra, BitFury, Coinbase, LedgerX, Ripple, and Power Ledger. It’s also had some notable exits like Authy, which was sold to Twilio.

A few tech titans invested as well. You had Qasar Younis, the former COO of Y Combinator, Michael Arrington, the founder of Tech Crunch, and Kevin Rose, the founder of Digg.

If that weren’t enough the Winklevoss twins also got in on Blockstack, making an investment through their venture fund Winklevoss Capital.

Its most notable investment is likely the Gemini exchange. And of course the Winklevoss twins made headline earlier this month by becoming the first bitcoin billionaires.

Long story short, follow the money. The big money is investing in Blockstack.

What about you, do you plan on investing in Blockstack?

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