Multimedia Project Raises 750 Bitcoins in Less than 48 hours in an ICO

University of New Mexico student Clay Space raised 750 Bitcoins (over $1 Million at closing) in fewer than 48 hours in an ICO for Back to Earth, the new production company designed to fund a multi-platform storytelling project seeking to engage an audience through film, graphic novels, an alternate reality game, blog, mobile apps, and other media.

The project’s goal was to raise 750 BTC ($900,000+) with the sale of 4 million tokens. And, as happens in the lucrative ICO market, the project achieved its goals. “This makes the tokens, at the outset, worth somewhere in the neighborhood of 25 cents each,” states the project, whose coins are divisible like bitcoin. Mr. Space combined IndieGoGo style fund-raising campaign with an Initial Coin Offering.

“This could revolutionize the way that films pursue money in the future,” Kevin Schulmeister, co-founder of ShadMeister Productions, says. “A media project funded with cryptocurrency is still very unique, and I think we’ll begin to see a shift towards alternative forms of crowdfunding after this.”

Mr. Space intends to

Read more ... source: CryptoCoinsNews

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