Social (SCL) Pre-ICO Sells More Than 12x Their Set Minimum Goal

The Social (SCL) pre-ICO ended just a couple of days ago, on the 7th of August. Their presale sold more than 12 times the set minimum they were aiming for over the entire ICO period.

Social is a cryptocurrency that will be used within Nexus, a secure and private decentralized social network with integrated marketplace, crowd funding and ad platform. Nexus is already available on the iOS App Store, Google Play Store and the web, making it one of the only companies to run an ICO with an already existing product available for use.

Nexus looks to have a very bright future as the team has put together a very exciting roadmap for the next 24 months. They hope to integrate new features such as a secure ERC20 compatible multi-wallet, instant access debit card, Tor API, built in VPN, end-to-end message encryption, and moving all data and multimedia to decentralized storage.

Social coins will be used within the Nexus marketplace to buy and sell goods and services from other users. Ad spaces on the platform will be self-serve and semi-automatic, and are also purchased with Social. Crowd funding campaigns can be set up by any user on Nexus to request donations for a number of different categories such as emergencies, business ventures, charities, etc. The team is also planning on an integrated instant access debit card so that any SCL in your account wallet can be spent as fiat anywhere that accepts Visa.

Probably the most interesting part of their ICO is the coin distribution. Most ICOs hold a majority of coins/tokens for their own keeping, along with giving 10% or more away for bounties or payment. The Nexus team will be holding zero coins to ensure that a large majority of the tokens in circulation have been acquired by real funds to provide a solid market capital foundation. A total of 95% of coins will be available for purchase during the entire ICO period. This will highly reduce the probability of a day one exchange dump, which happens to most new tokens that hit the market.

The presale/pre-ICO for Socials (SCL) raised an enormous 3,519.63 Ether. The main ICO is set to start on the 17th of August at 01:00 GMT and will run for exactly one month, or until the hard cap of 50,000,000 SCL is hit.

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