0xproject Raises $24Million ICO Funds in 48 Hours

The 0xproject fund raising campaign realized an amount of $24 Million in the space of 48 hours. The 0xproject Initial Coin Offering took place between 15th and 16th August and according to official sources it had about 12,000 investors participating.

It is also worthy to note that the project was backed by some venture capital firms such as Blockchain Capital, Polychain Capital, Pantera Capital and two Chinese investment companies namely FBG capital and Jen Advisors.

As indicated in their whitepaper, 0x is to be an exchange platform for the interoperability and inter-convertibility of ERC20 Tokens. It aims to eliminate the complexity of having to convert ERC20 assets into Ether before being able to purchase other digital assets on the ERC20 standard. It simplifies the exchange process and acts like an Over-The-Counter (OTC) medium where token holders can exchange assets directly with each other without the need for an intermediary or exchange.

According to a recent research by the ICOWatchlist team, more than half of recent ICO projects have made use of the Ethereum blockchain and consequently seen an increase in the number of ERC20 digital assets. Therefore the 0xproject platform just comes in handy for a sizeable number of token holders.

For more details, follow the 0xproject ICO