Initial Coin Offering became the main source of raising funds in 2017 for the new entrants in the crypto world. But, just like any other form of crowdfunding, most of the ICO funded projects never saw the day of light. Many have turned out to be a scam and fled away with people’s money. However, there are always exceptions, which keep the trust of people intact.
In this article, we will look at some of the ICO funded projects which were able to deliver on the promises they made, and brought real-world Use case products, in the blockchain field.
NEO: Representation of Physical and Virtual Assets Digitally
The main aim behind the development of the project is to create a blockchain based network, which would allow the users to digitally represent their physical as well as Virtual assets on the blockchain network. The project aims to directly take on Ethereum and create decentralized applications like DApps. The difference in the two arises over the management of tokens, NEO allows its users to manage their assets, both virtual and physical through a trading token. The tokens are governed by smart contracts.
NEO platform has seen new ICO based projects deployed on its blockchain for years. Some of the famous ones that have been deployed are
One of the crypto asset investments advisor, developed by some of the experienced financial experts of the Wall Street and the group of people from Google’s Artificial Intelligence. The ambitious project raised $48 Million in token sales.
It is an enterprise level blockchain based infrastructure which was designed specifically for “consumer internet and B2C interactions”. The public token sale raised in access of $25 Million
SingularityNET: AI-based technology and Product development on Blockchain
SingularityNET focuses on bringing the Artificial Intelligence developers and the businesses which use or deploy Artificial Intelligence closer. The platform provides specific tools and services to the developers on its blockchain network, which help them not only create a product but also monetize it.
The platform brings Businesses and Developers on a closer proximity to create products which would help expand the Artificial intelligence based industry to new scales. The SingularityNET focuses mainly on three key areas:
- Biomedical investigation
- cloud robotics
One of the biggest breakthrough came for the company in the form of Sophia the Robot, most expensive AI based robot. Sophia “the world’s most expressive robot, is one of [SingularityNETs] first use cases. Today, she uses multiple AI modules to see, hear, and respond empathetically. Many of her underlying AI modules will be available open-source on SingularityNET.”
Bancor: The Exchange allows User to convert between any two tokens on the network
Bancor is considered to be one of the most successful ICO projects, as it raised $150 MIllion in funds through its token sale on Ethereum blockchain, in June 2017. The humongous amount raised was highest at that point in time. And, just after a year of its ICO token sale, Boncor has come up with its decentralized Exchange.
Boncor Exchange allows the user to convert between two tokens supported on its network without the need of any third-party client. The exchange system has the power to convert one token into another, calculating the factor of change in the background.
Boncor makes use of the smart contract to generate liquidity between the buyer and the seller, and help the parties to complete the transaction without using multiple third-party clients. The success of the exchange can be estimated from the fact that it handles $2 million worth of transactions on a daily basis.