Categories: CryptoNews

SingularDTV Crowdsale Completed Within Fifteen Minutes

There is something to be said for crowdsales in the cryptocurrency space these days. SingularDTV, a project that excites a lot of people, completed its crowdsale in the span of fifteen minutes. This poses the question of how many people were able to participate, as it seems large Ethereum bagholders scooped up most of the tokens.

SingularDTV Is Sold Out Quickly, as Expected

If most of these Ethereum-based projects had not set a cap on the amounts of funds they could raise, some of them could easily surpass The DAO

. That project had other flaws, which kept it from achieving its major goals. SingularDTV, on the other hand, is a project that has somewhat realistic goals, although there is no guarantee for success.

As is the case with all of these crowdsales as of late, they tend to sell out very quickly. For SingularDTV, it took roughly fifteen minutes to reach their funding goal, which is quite spectacular. A similar trend occurred with other projects so far, all of which seem to rake in cash like there is no tomorrow.

The bigger question is how “legitimate” all of these quick crowdsales are. The primary objective is to attract as many different investors as humanly possible.These are all decentralized projects, and putting one or two investors in the driver’s seat will not help achieve that goal by any means.

Related Post

Considering how users had all of fifteen minutes to buy into this crowdsale, it is likely that some people put in a lot of money. Perhaps the Ethereum developers contributed some of their own private funds, as it takes money to make money. However, one could argue that there should be a limit as to how many funds individual investors can deposit.

While it is good to see SIngularDTV reach its goal in quick succession, raising enough money is just the first step. Decentralizing content creation and taking on established media is not an easy task. It will be interesting to see how this project develops in the coming months, and whether they can succeed where The DAO failed after getting a lot of attention.

Image credit 1

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Retail Traders Panic Sell During ‘Fake Dip’; Whales Hold Tight to SOL, DTX, and SHIB for a Millionaire-Maker Bull Run

Solana (SOL): A Strong Ecosystem Despite Volatility Solana (SOL) has been all over the place…

12 mins ago

Llama 3.2 Predicts Price For Dogecoin: $2 Peak By 2025 And $5 Rally For DTX Exchange This Winter

Cryptocurrency trends are keen on the forecast that was recently released by Llama 3.2 model…

52 mins ago

Crypto Whale Sparks 8x Surge In $OPK Price with Massive Buy-in

A mysterious crypto whale, who previously invested 9,600 SOL into tokens $Pnut and $FRED, has…

3 hours ago

Early ENS Investor Transfers $2.47M To Binance Amid Upcoming Token Unlocks

An early investor linked to the $ENS token recently transferred 154,000 ENS tokens, valued at…

3 hours ago

Wintermute’s Memecoin Strategy: BABYDOGE Ranks Among Top 3 Holdings

In a surprising turn, $BABYDOGE has climbed to the top three in Wintermute’s memecoin holdings…

3 hours ago

$Pnut’s Meteoric Rise: How A Tragic Squirrel Inspired A Memecoin Sensation

The $Pnut memecoin recently soared past a $120 million market cap, creating unexpected wealth for…

3 hours ago