The most ambitious project of Gavin Wood (Co-Founder of Ethereum), finally started getting funding through token sales. The Swiss non-profit organization Web 3 facilitated the private sale of the tokens, that will generate the fund required for Wood ‘s project Polkadot. This project is all about Blockchain’s interoperability. Around 500,000 DOT tokens were sold, which is only 5 percent of the overall supply. The project requires $1.2 billion, and going by the demand of DOT it seems it will get the projected fund. Web3 has remained tight-lipped on the sale proceeds and has declined to divulge any details on this.
From unconfirmed reports, it has been heard that three Chinese firms have bought DOT tokens. These firms were eager to invest in the Polkadot project. However, even
Gavin Wood is quite optimistic with the demand of DOT amongst the private investors, and he is hopeful that total funding for the project will be realized soon. He is also happy about the interest was shown by the investors toward his project Polkadot. He reasoned that probably the fresh idea of the Polkadot project became the top draw amongst the investors.
What is Polkadot all about?
With high demand, it has been knowing that the complete funding for the project is yet to be realized.
- Enables other blockchains to work with each other
- Facilitates interoperability
- Is the first ecosystem for facilitating interoperability