Stox ICO closes in a single day; Raises over £30 Million

A much anticipated ICO, Stox, a prediction platform developed by Invest.com raised 148,000 ETH (close to $33 million) in one day. The ICO was supposed to go on for 15 days to meet its $30 million target. According to Finance Magnates, this makes it the ninth biggest ICO to date.

As per Stox’s social media profiles, this was achieved due to a couple of new partnerships, including TaaS (the tokenized closed-end fund dedicated to blockchain assets) and Decentral (creators of the Jaxx Blockchain Wallet). Founder and CEO of Jaxx, Anthony Di Iorio, said:

We’re excited to support Stox as a new token. We’re always looking to build a more harmonious blockchain community and this partnership brings us closer to that vision. The project is gaining a lot of attention and we definitely want to help bring prediction markets to the next level.

On the other hand, Token-as-a-Service (TaaS) announced its contribution of 500 ETH to the Stox ICO. Ruslan Gavrilyuk, co-founder and CEO of TaaS said:

This contribution shows our commitment to include the most stable and liquid assets in the fund’s portfolio for the benefit of its token owners. TaaS embraces diversification as a key pillar for sustaining and scaling up the fund’s performance. We are excited to contribute to STOX’s TGE and to support their effort of becoming a pioneering member of the Bancor network.”

To add on to this the marketing Stox got a massive boost last week when the American boxing champion Floyd Mayweather, who is followed by 16 million people, promoted Stox on Instagram — “I’m gonna make a $hit t$n of money on August 2nd on the Stox.com ICO.

The biggest difference, is that there is a real, substantial, experienced company behind this,” said CEO Ophir Gertner. “This isn’t a few folks and a whitepaper that have never managed a company, dealt with user acquisition, weather the ups and downs, etc.

Users can use the single token on Stox.com to “trade” on the outcome of “finance, sports, politics and even the weather.” Since it is open source anyone can connect to the platform and post a trade.

Stox’s whitepaper says:

Prediction markets are a disruptive economic instrument that has yet to penetrate mass investor audiences due to excessive regulation and the fragility of existing centralized implementations.

The eventual aim of Stox is to design a leading decentralized prediction market that is used by mainstream audiences through its open source platform.

Next step for Stox is to implement the decentralized platform. This will let users to make their own predictions on any event. Interestingly, Invest.com has more than 3 million registered users and it last year it helped over eight million transactions in total.

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