One of the most trusted ICOs for 2018 is Telegram, though I don’t know how profitable it might be.
Telegram is the popular cloud-based messenger founded by Russian Pavel Durov.
This year, the company plans an ICO for its Telegram Open Network, a blockchain-based ecosystem for the messenger.
It is already the largest ICO in history before the public token even started. How is that possible? Because companies now tend to conduct pre-sale events aimed at institutional and large investors.
Thus, Telegram has already managed to raise $850 million in the first pre-sale round. Previously, the largest ICO was Tezos, the almost failed project which raised $232 million. Telegram is way above that level. In March, the company is targeting another $1.15 via its public sale, so in total, the encrypted messaging service operator wants to raise $2 billion.
If you are surprised by this figure, you should know that there are rumours that Telegram is conducting a second pre-sale round in secret. According to some sources, the company is targeting another $850 from private investors, thus increasing the total target at over $2.8 billion - an incredible amount for any type of project.
The Telegram is already one of the most anticipated ICOs, and it has already exceeded all expectations, but I don’t know how profitable it can be. It’s the most trusted ICO indeed, given that famous venture capital firms invested in it, and the company dealt with the Securities and Exchange Commission (SEC) for the ICO. However, not everyone is confident in the company’s potential.
Christian Catalini, the founder of MIT’s Cryptoeconomics Lab, told The Verge:
“There’s been less focus on technical details over time and, for some of these, much more on selling the vision. In the case of the Telegram one there is a lot that is being promised and not a lot of clarity on how that would be delivered.”
Exclusive: Telegram is holding a secretive second pre-ICO sale
We’ll see what happens next.