ICO platform COMSA raises over $65M in ongoing token sale

[gokayc]

COMSA, a recently announced complete ICO fundraising and cross-chaining platform built on the NEM blockchain protocol, has raised over $65 million in its ongoing Initial Coin Offering (ICO).

The ICO started on October 2, 2017, and will run until November 6th, 2017. Token sale participants will receive 1 COMSA (CMS) token for 1 USD equivalent purchase.

According to the official website, CMS holders who bought their CMS from COMSA’s token sale drive will get to enjoy a premium bonus of 5% for every CMS they use to participate in the future ICO campaigns on the COMSA platform. Also, 5% of CMS tokens will be distributed as referral bonuses to token sale referrals.

The amount raised from the token sale will be used to fund the development of COMSA CORE system and expand its reach in a rapidly growing ICO market. Tech Bureau also plans to use the funding to accelerate the growth of its existing core businesses, which are the crypto exchange Zaif and the private blockchain product, mijin.

Recently, Japan Gibier Promotion Association chose to use the mijin blockchain, a NEM protocol blockchain, for the supply chain management of game meat. This marks the first government deployment of the mijin blockchain.

Earlier, COMSA website listed two upcoming ICOs by Premium Water Holdings and CAMPFIRE, Inc. However, the listings have now been deleted.

According to a COMSA's online update, the partnership with CAMPFIRE has been terminated. It said (loosely translated), "We thought that our previous relationship of trust between us and CAMPFIRE was destroyed and asked the representative of CAMPFIRE for explanation, but we could not get any explanation. As for us, since CAMPFIRE unilaterally destroyed our existing partnership relationships and trust relationships, we decided that it will no longer be possible to maintain or build further alliances, and we will inform CAMPFIRE of ICO and virtual currency transactions We notified that any negotiations on system provision has been terminated.”

https://www.econotimes.com/ICO-platform-COMSA-raises-over-65M-in-ongoing-token-sale-933538

[thepo1m]

Good but I believe the big winner here is NEM, this is one of the thing we have been craving for on NEM platform, it has been a sleeping Gaint for some time and believe it is now waking up to its potential

[skyline247]

Where is all of this money going into these ridiculous ICOs? I don't know about you, but this seems awfully familiar to the dot com bubble of the 90's. Money just spewing into random organizations without any idea if they would become successful.

[publicjud]

Good but I believe the big winner here is NEM, this is one of the thing we have been craving for on NEM platform, it has been a sleeping Gaint for some time and believe it is now waking up to its potential

Yes it is! I believe the NEM will be winner too. With any new project related to NEM it becomes more and more stronger. But I believe in COMSA as well. I hope total contribution won't be much more $100M. It allows to grow soonafter the ICO.

[fragout]

There was a discussion about this on the NEM thread. While it looks like a good thing in the long term, the fear is any new ICO that is run by COMSA will put huge sell pressure on the low volume NEM market.
 ICO collects NEM and converts to fiat to finance their operations.
 You might think that ICO investors will first have to buy NEM, but that is not what happend in the COMSA ico itself. So we will just have to see how it plays out

[senin]

I liked the ICO COMSA campaign and I will try to participate in it. Despite the fact that the campaign starts on October 2, for some reason, there is no reference to the campaign itself. Even in the search for the name of the campaign, there is practically nothing. This makes it difficult to participate in this campaign.

[alexey8080]

No hard cap? How then will form the demand on exchanges.
Don't like projects without hard cap.

[MUGOmugo]

No hard cap? How then will form the demand on exchanges.
Don't like projects without hard cap.

dont they set any hard cap? i think it is better to have  a hard cap. but until when is there ico? their site is on maintenance.

[alexey8080]

dont they set any hard cap? i think it is better to have  a hard cap. but until when is there ico? their site is on maintenance.

No, they dont.
Until November 6

[richkellj]

Where is all of this money going into these ridiculous ICOs? I don't know about you, but this seems awfully familiar to the dot com bubble of the 90's. Money just spewing into random organizations without any idea if they would become successful.

I believe it is more or less like a shareholder kind of thing. Oh! I believe in this project, it could thrive and I want to invest in it. Same as normal system but the difference being the crowdsale method most especially with the ERC20 smart contract that has made it so easy, it is now becoming like a normal game to raise funds easily. It is not bad, once you are sure of the team behind the project and every investor sure do look at that first, but it is becoming too much honestly.