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At the monthly fireside chat event Startup Grind Chicago, Dan Novaes, Co-founder & CEO of Current, a blockchain startup discussed the success their multi-million dollar token sale in an event titled “WTF is Blockchain and Why Should I Care.”
In a private token sale, Current brought in $36 million selling their CRNC coins in a highly successful digital token sale.
Founded in 2016, Current is an incentivized multi-media ecosystem that gives people more choice in how they pay for and play streaming content.
Raising capital is an often challenging process for startups so many startups take advantage of cryptocurrency digital token ICO sales, also known as initial coin offerings to allow interested backers purchase a stake in their company.
With Current, consumers both content creators and consumers are rewarded in CRNC for their time and can earn CRNC for usage on premium subscriptions for sites like YouTube, Spotify and SoundCloud.
To further enhance their token sales, in February 2018 Current also ‘air dropped’ $4 million worth of free CRNC coins to their supporters.
Startup Grind is a global startup community designed to educate, inspire, and connect entrepreneurs. They host monthly events in more than 350 cities and 120 countries featuring successful local founders, innovators, educators and investors who share personal stories and lessons learned on the road to building great companies.