Flixxo raises $2mn in the first minutes of its ICO and sets out to reach $10 million to challenge the online video giants
Press Release – updated: Oct 24, 2017 19:14 CEST
MADRID, October 24, 2017 (PRESS RELEASE JET) – Blockchain technology is bringing disruption to many sectors of the economy. Thanks to ICOs, startups from all over the world are managing to raise millions of dollars in a record time to boost their projects. Icofunding, is one of a new breed of pioneering ICO facilitator platforms.
What is Flixxo?
Flixxo is a decentralised online video distribution platform that will be taking on giants such as YouTube and Netflix. It’s peer-to-peer driven, content authors can store, share and monetise their own content. Its founders include the creator of Popcorn Time, Federico Abad, and one of the founders of cryptocurrency project Rootstock, Adrian Garelik.
Through the use of an internal currency (or “token”) called Flixx, Flixxo incentivises the distribution of content among individuals. It’s the users who download the content, store it in their devices, and share it using the BitTorrent technology. Taking out the middleman, such as YouTube or Netflix, profit for users, advertisers and content creators is maximised.
Flixxo has launched its ICO today, Tuesday 24th of October, it has already raised over $2 million!
Flixxo’s business model generates network economies. As the number of users of the platform grows, the bandwidth for content increases and the higher use level incentivises advertisers to increase advertising in the platform, in turn generating revenues for the users.
How does an ICO help Flixxo?
The ICO allows Flixxo raise a significant amount of money that otherwise would be a very difficult. The ICO is in essence a large scale market test for Flixxo, allowing thousands of potential users to purchase a right of use of the platform ahead of its launch. The token allows small content generators to monetise their content, in cases where previously money transfer logistics or small scale of operations would have made it unappealing. The design of the token ecosystem (“tokenomics”) means the token incentives early adoption and viralisation of the platform by its users.
What is Icofunding?
Icofunding is one of a few pioneering ICO platforms. Its mission is to help startups launch successful ICOs, placing a focus on ICO governance systems. Its founders are Alejandro Gómez de la Cruz, Adrián Calvo, Carlos Kuchkovsky and Pablo Moreno de la Cova.
For more information:
Pablo Moreno de la Cova
Phone: +34 638 673 370
Email: [email protected]
Source: Published by Icofunding, S.L. (Spain)
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