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Dragonchain, a blockchain start-up with Disney roots, raised $ 13.7 million during the ICO

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Dragonchain, a blockchain-start-up company founded by Disney, managed to raise about $ 13.7 million with the help of the initial coin offering (ICO). As indicated on the project site, during the two-stage crowdsale 30 521 ETH and 622.47 BTC were collected. In the course of the pre-session, which began in August, the start-up managed to attract about 1.4 million dollars (152.25 BTC and 2357.53 ETH). The main stage of the token was completed at the end of last week.

Representatives of Dragonchain said that the financing raised during the ICO will be directed to the development of the project, as well as the creation of a market value for the company's Dragon token.

Dragonchain will distribute over 238 million tokens intended for general crowdsdale, in proportion to the amount of investor's contribution to Bitcoin (the contributions to the Ethereum will be recalculated as Bitcoin at the exchange rate at the time of the deposit). The distribution of tokens will take place after the audit is completed.

Within the framework of the token, 5,388 transactions were made, the average amount of investments was $ 290.77 (the largest contribution was $ 1,046,754.33).

The sale was open to all comers and did not require any form of identification for participation, although this did not limit the sale to accredited investors, as described in the section on frequently asked questions.

Dragonchain started as an internal project of Disney in 2014, until the company released this project in free floating in 2016 and did not open the results of its work to all comers.

The public release of Dragonchain was held on October 2, 2016 based on the modified open source license Apache 2. The purpose of this development was to create a convenient tool for enterprises with the help of which they can simplify the logistics scheme for moving goods using a decentralized management model. That is, Dragonchain performs the typical functions for the blockchain - it keeps records and writes the executed transactions.

Now, Disney is no longer involved in the development of Dragonchain.
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