The initial coin offering token sale (ICO) for the Stox blockchain prediction platform has closed after one day, raising its $30 million target.
The Stox token sale opened on Wednesday, but ended over night on Thursday after raising 148,000 ether, worth around $33 million. According to Finance Magnates, this makes it the ninth biggest ICO to date.
America boxing champion Floyd Mayweather was recently reported promoting Stox on Instagram, which no doubt helped toward boosting its marketing profile.
After sharing a photo of himself in a private jet, he wrote:
I’m gonna make a $hit t$n of money on August 2nd on the Stox.com ICO.
Stox will employ its smart token, STX, via the Bancor protocol and is aimed at offering a peer-to-peer trading experience for users.
According to the Stox whitepaper:
Prediction markets are a disruptive economic instrument that has yet to penetrate mass investor audiences due to excessive regulation and the fragility of existing centralized implementations.
The maturity of blockchain technology is poised to change that as decentralized implementations for scalable prediction markets are within reach.
The aim of Stox is to design a leading decentralized prediction market that is used by mainstream audiences through its open source platform.
Now that the ICO has ended the next step in Stox’s roadmap is the implementation of the Stox decentralized platform. This will give users the chance to make their own predictions on any event.
Using invest.com as its debut provider and operator, Stox aims to use the ‘wisdom of the crowd,’ so that people can predict and trade the outcome of events in any category, such as finance, sports and politics.
Last year, invest.com helped over eight million transactions while its trading platforms accommodate more than three million registered users.