CV CV and CV Labs, an investment fund and incubator focusing on blockchain technology, are located here at Dammstrasse 16. From here, the Cardano Foundation raises $62 million in its Initial Coin Offering (ICO) between 2015 and 2017. The Tezos Foundation tops this with $232 million on July 1, 2017 – the largest ICO of all time.
What exactly is an ICO? An initial coin offering (ICO) is a method of raising seed capital for a new blockchain project by selling crypto tokens and then using the funds to develop the technology. It is essentially a crowdfunding, where people donate money to a project in exchange for digital tokens, the value of which they expect to rise as the project becomes successful. Crypto Valley plays an important role in this, because the Ethereum ICO still attracts entrepreneurs from all over the world to Zug. Today, ICOs have become rarer, but this new type of fundraising shapes Crypto Valley, as it has created tremendous wealth in the region.
Mathias Ruch, the co-founder of CV VC and CV Labs, explains how he experienced the ICO boom and where he sees things heading.
