Protocol Labs's blockchain project Filecoin has raised almost $250m during its initial coin offering (ICO) without having a product to bring to market. The company, which exchanges tokens in return for empty or unused hard-drive space, was overwhelmed with orders for its ICO, which is set to continue for another month. But the company says it will be able to deliver on those promises by launching an ICO later this year.
Protocol Labs's blockchain project Filecoin has raised almost $250m during its initial coin offering (ICO) without having a product to bring to market. The company, which exchanges tokens in return for empty or unused hard-drive space, was overwhelmed with orders for its ICO, which is set to continue for another month. However, the Filecoin network is still in the white paper stage and no date has been given for its launch with investors have been given a promise about the digital currency's delivery.