Telegram has become the go-to app for startups wanting to get the message out about their upcoming ICOs. Already a massive worldwide application, Telegram has become synonymous with blockchain and the crypto world. When they announced their own ICO, it was only natural that there would be a great deal of interest. However, their stated ambition of raising $2 billion raised a few eyebrows to say the least.
It’s all About Momentum
But now it looks like Telegram might pull a rabbit out of the hat and reach that target, or at least get close to it. Reports today show that the current figure raised is at an enormous $850 million – already the largest amount ever raised for an ICO. Undoubtedly, this will be investor-based pre-sale, but is hows the massive appeal for Telegram. The SEC report showed that this massive figure had in fact been generated by fewer than 100 investors, putting individual investment averages at around the $10 million mark to date.
There is still much to learn about the plans for Telegram after the ICO. But, a leaked document recently showed plans for a “third generation” blockchain in a white paper of an eye-watering 132 pages.
This fundraising achievement, if verified, represents an enormous record. The previous record was held by Filecoin, which raised $200 million in 67 minutes back in August 2017. Telegram has momentum though, and is surely now set to pass the $1 billion mark and the very near future.
Image Credit: Deposit Photos
What do you think about Telegram’s record-breaking ICO? Share your thoughts with us below.