Investment platform CrowdWiz has closed its pre-ICO funding round on just over $5m, with the ICO prepared to launch next month.
The token sale will look to sell 65 per cent of the WIZ tokens, with proceeds mainly being used for ecosystem development. The token sale has a minimum start goal of $5m, and has a hard cap of $20m.
CrowdWiz is an investment platform, which allows investors, from a range of social groups, to contribute to a group fund for investing into the market. Each investor is able to make a vote on the direction of the vehicle, what to invest and when to sell. Each transaction is made through smart contracts based on the blockchain, to ensure transparency and fairness.
The tokens are used to vote on the ecosystem and to trade on major exchanges. WIZ tokens also give holders the ability to start a WizFund and perform IFOs, as well as take part in other members ones.
The company plans to launch a beta for its service early next year, with a product launch in the second quarter of 2018. Following the launch of the platform CrowdWixz will also look to launch the beta and service WizExchange.
Last month several companies closed pre-ICOs with ConsenSys closing its ICO pre-sale on $40m, Bankera ending its initial offering on €25m and Power Ledge raising $17m for its pre-sale within just 72 hours.
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