Will Telegram Inc.’s potential ICO be the next big thing for crypto?
Telegram Inc. – the poplar encrypted messaging platform for crypto investors and speculators alike – is plotting one of the most ambitious ICOs of all time amidst plans to launch the Blockchain service ‘Telegram Open Network’.
The leaked and currently unconfirmed white paper states that the ‘TON Blockchain’ is “a scalable and flexible Blockchain architecture that consists of a master chain and up to 292 accompanying Blockchains.” It is purported that he tech can withstand transactions VISA and Mastercard wouldn’t baulk at and can match them for speed, too.
According to Bloomberg, Telegram Inc. are planning to raise $600 million via the private sale of tokens by February 2018. They’ll look to match that $600 million again with a public sale of tokens kicking off in March 2018. Anyone investing in the private sale will enjoy a discount of at least 50% compared to the public sale price.
So, is this likely to spur the biggest crypto hype of 2018? Or should we be focussing on the well-established tokens we’ve become accustomed to seeing dip and spike. “It’s too rich and too risky for me to be interested at this point,” said Joe DiPasquale Joe who manages cryptocurrency fund of funds BitBull Capital. “Still, they should have a lot of success raising and that their final raise will be in the high hundreds of millions. $1.2 billion is a lofty goal, and it’s impossible to say whether they’ll hit it” he added.
According to Iqbal Gandham, a managing director at trading platform eToro, it’s an exciting prospect and one he believes should have happened sooner to push cryptocurrencies even further into the zeitgeist. “Someone like Telegram or WhatsApp is needed to bring crypto into the mainstream. Telegram already had the entire crypto audience,” he explained. “From a tech perspective it looks amazing and the founders have a really good pedigree. I think the entire world might invest if they could.”