Italian startups show a keen interest in Initial Coin Offerings (ICOs). Actually one of them already closed its offer with great success last January while other two are now open(see here a previous post by BeBeez). This happens in the framework of an increasing interest all over the world for this market. As for CoinSchedule, in 2017 worldwide startups raised more than 3.8 billion of US Dollars through ICOs while capital raised in this first two months and half in 2018 has topped 2,8 billion euros.
Companies that raise funds with such processes issue tokens, or units of virtual currencies that one can exchange later on specific platforms. Earlier this year in January, more than 1500 supporters invested 16 million of US Dollars in just 90 minutes for the ICO of AidCoin, an Italian cryptocurrency for financing charities that Francesco Nazari Fusetti, Manuela Ravalli, and Domenico Gravagno built on the Ethereum blockchain and that it will be possible to trade on BitFinex (see here a previous post by BeBeez). The creators of AidCoin also founded CharityStars, an Italian platform for charities fundraising backed by 360 Capital Partners. AidChain will allow tracking the flow of donations made in AidCoin for the projects listed on CharityStars.
The next Italian company which has launched an ICO is Friendz, a startup that Alessandro Cadoni and Cecilia Nostro founded in 2015 and in which Triboo, an Italian Aim-listed media marketing company, acquired a stake in 2016. Friendz is a platform for social marketing and advertising that generates more than 1 million of euros in sales. Friendz will invest the proceeds of the ICO for implementing a blockchain technology that will allow the business to expand internationally and to pay the members of the platforms with the cryptocurrency Friendz Coin. This ICO’s token will be the currency for buying items in online shops and marketplaces or for acquiring those digital services that will be available on Friendz’ blockchain. The company aims to raise between 50 and 750 millions of Friendz Coins. The offer will end on 21 March. The Friendz Coin is currently worth 0,067 US dollars. However, those who subscribed the ICO in pre-sale stage paid between 0,048 and 0,061 dollars for each Friendz Coin. The holders of FCs may trade the cryptocurrency on every virtual exchange that may accept it. The Rock Trading , a Malta-based virtual exchange that Italian entrepreneurs founded, already accepts FCs.
Also RoBet, a trading application for cryptocurrencies and a bookmaker, started the pre-sale of its ICO that will officially start on 20 April and end on 21 May with a raising target of 3.2 million of token denominated in RAC. Serial Italian startuppers Edoardo Narduzzi and Alessandro Lentini founded RoBet.
Iconium is a further company with keen interest in ICOs. Its founders Fabio Pezzotti and Domenico Laudonia invested their own resources to start the company and proposed the subscription of a capital increase of 5 million of euros to institutional investors, high net worth individuals and family offices that want to invest in blockchain projects and world wide ICOs. The company already signed international partnerships with relevant blockchain players to develop a robust proprietary deal flow consisting of 15-18 initiatives. Iconium will join the most interesting ICOs in their pre-sale stage. The average investment ticket on Iconium will be worth between 0.002 and 0.4 million of euros per ICO
