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Thursday, September 16, 2021
Home News Ambrosus Token Generation Event (TGE) Officially Cracks the Largest Blockchain Crowdfunded Projects...

Ambrosus Token Generation Event (TGE) Officially Cracks the Largest Blockchain Crowdfunded Projects in History

According to this list of the largest crowdfunding projects of all-time, Ambrosus has just surpassed Basic Attention Token (BAT) as the 10th highest funded project ever recorded with over 106,790 ETH ($36.6 million USD) raised to date – with one week still remaining.

While the list is missing a few recent notable projects such as Kyber and Kik (reflected in the chart below), this is a reassuring sign for the cryptocurrency community, which has been under recent scrutiny due to ICO regulations and an increase of ICO and token sales in the market.

Ambrosus is reinventing the supply-chain industry to help make food and medicine safer to consume. Their technology will use smart contracts and tagging to track products from their source, validating the quality assurance along the route of transport.

Ambrosus CEO, Angel Versetti, explains:

“Every year there are hundreds of thousands of deaths from counterfeit medicine. For the last 10 years, the number of food scandals has been increasing with a number of contaminated, poorly stored or low-quality food cases increasing and tens of billions of dollars to the industry. We are trying to solve this problem.”

2017: The Year of the ICO

Through the first half of 2017, ICOs, token sales, and TGEs raised approximately $1.7 billion, significantly outpacing traditional venture capital investments. To date, it is estimated that over $2.3 billion has been raised with ICOs stemming back to 2015, with the overwhelming majority of this amount occurring in the first half of 2017.

Here is a snapshot of traditional VC funding in comparison through July 2017:

goldmansachsgraph

14 out of the 15 largest ICO and token sale fundraises to date have been in 2017, showing the growth of both the blockchain industry and public participation in the market.Most notably, Bancor raised over $153 million in roughly 3 hours through crowdfunded Ethereum contributions.

Despite this success, there have been roadblocks for the industry, but recent ICO success has proven the strength and value proposition offered in funding blockchain-based technologies.

Largest Raises to Date:

Rank Project Category Platform Campaign
end date
Amount
raised (approx.)
1 Filecoin Blockchain Ethereum September 2017 $250,000,000+
2 Tezos Blockchain Tezos July 2017 $232,000,000+
3 EOS Blockchain Ethereum June 2017 $185,000,000+
4 Bancor protocol Blockchain Ethereum June 2017 $152,000,000
5 The DAO Blockchain Ethereum May 2016 $150,000,000
6 Status Blockchain Ethereum June 2017 $103,000,000
7 Kik Blockchain Ethereum September 2017 $97,500,000
8 TenX Blockchain Ethereum June 2017 $80,000,000
9 MobileGo Blockchain Ethereum May 2017 $53,000,000+
10 Kyber Blockchain Ethereum September 2017 $50,000,000+
11 Sonm Blockchain Ethereum June 2017 $42,00,000
12 Ambrosus Blockchain Ethereum Ongoing (October 2017) $36,000,000+ (ongoing)
13/14 Monetha, Aeternity Blockchain Ethereum September/June 2017 $36,000,000+
15 Basic Attention Token Blockchain Ethereum May 2017 $35,000,000

Original source has been modified and updated through September 2017. All information is based off of linked sources and may be incomplete and or “inaccurate” depending on the current price of ETH and the price of ETH on the ICO reported closing date.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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