Lisk ICO raises $5 million

Wednesday 30 March 2016

Dapps platform Lisk just raised a vast amount of money. I ask founder Max Kordek why it went so well.

A while back I talked to Max Kordek about Lisk, a new dapps platform. Lisk’s ICO has recently finished, and raised a staggering 14,082 BTC from over 3,000 participants - more than $5 million at prices at the time. I asked Max for his thoughts on why it had been such a success - and what they’d do with all the money.

Money shower

Lisk just raised almost $7 million: not a bad ICO

1) You raised a very impressive $5+ million (slightly more at today’s rates). What do you plan to do with it all?

Thank you! Yes, it's an impressive amount of money and we are extremely motivated to utilise it in order to build a fully-fledged dapps platform.

We will spend the money on all sorts of expenditures involving the Lisk ecosystem. This obviously includes salaries, marketing, hardware, office space and infrastructure. However, I think we also need to get creative with the money. We are currently brainstorming about ideas and creative use-cases.

One idea is a dapp seed fund. Dapps are the most important aspect of Lisk, therefore we want to support our dapp developers as much as possible. A dapp seed fund gives developers the chance to get enough money in order to kick-start their idea into a real product. More information about this will be available in a few months.

Liskers can be certain that we are not only using the money to develop the platform behind closed doors. We will go into the real world, getting new developers and users from as yet untouched areas. At this point of time the cryptocurrency ecosystem urgently needs new people.

2) What are the reasons you think investors were so interested by the project?

I think there were many reasons which perfectly fell into place. We had the best possible timing to initiate an ICO. We also partnered up with Microsoft and the Chain of Things research lab which produced a lot of trust and expectations. Combined with our professional appearance and well-thought-out marketing campaign, Lisk was destined to become a big hit.

Additionally, all the drama within the cryptocurrency community drew much attention to us. This is one reason why there is such a big Lisk community already.

The last reason is obviously our great technology with an enormous potential. Lisk can be a key technology for the Internet of Things, FinTech, online gaming and more. All of these being billion-dollar industries.

3) Were you surprised at the scale of the funds raised?

It came in slowly over 30 days, so I wasn't surprised. However, Oliver [Beddows, co-founder] and I didn't anticipate such a huge amount in January. Naturally, we are extremely happy and looking forward to the next years. We know that Lisk is a life-changing opportunity and we are working hard to realise its potential.

4) What sort of people do you think invested?

Mostly speculators hoping for the next big thing. Nonetheless, we also have a large number of motivated and talented users. Quite a few are already discussing, brainstorming, and developing dapps. Others are creating websites to promote their delegates or the Lisk platform.

After all, the community plays an important role in the success of Lisk and we support our members as much as possible. If you want to help; please go to our forums and spring into action!

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