We have closed the first big funding deal during our main sale, as a crypto fund based in the UAE buys into our project. The fund has acquired 25,000,000 PHT tokens — 13.9% of total tokens available — plus an option to acquire a further 4.6% of PHT tokens. The fund has asked to remain anonymous as part of the agreement.
We are very happy to have closed such a large amount for our first deal, as our talks with high potential investors continue and these news might have a domino effect.
Crypto funds recognize Photochain as a highly regarded ICO, as our expert ratings have consistently shown. They share our vision for long term execution — agreeing with our detailed product roadmap and future business projections — and align with us on our ambition to take 10% of the stock photography market by 2020.
This fund buys into a selected circle of high quality ICO’s, after which they promote the fund to institutional investors as a prime possibility to participate in such a diversified portfolio. Funds play a crucial role in traditional financial markets and it is an honor for Photochain to be selected in this capacity. Read the full story here or at Photochain.io
https://medium.com/photochain/photochain-agrees-deal-with-uae-crypto-fund-for-25-million-pht-tokens-f714c7b5ff2f(words of Photochain, not mine)
