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Fabric Token Raises More Than $1 Million in Less Than a Day After ICO Open

The Fabric Token ICO started a few days ago and it has already raised more than $1 million USD. The official end date for the public sale is set for April 1st, 2018 or until the hard cap of 8,906.5 ETH is reached.

ICO Start Outcome

While we were expecting higher engagement immediately after the ICO, the funds raised so far are more than enough to ensure that we continue developing the Fabric Token platform without any issues whatsoever. However, in the 42 days left until the end of the ICO, we will be pushing extremely hard with both the ICO and the FT project’s marketing plans in order to raise as much as possible.

No funds will be spared and we have already started reaching out to influencers, promoting heavily on social media websites and more. As a few of our community members pointed out, marketing needs to step up until the end of the ICO and that’s exactly what we will do. Here’s what Doncho Karaivanov, the COO of the Fabric Token project, had to say regarding the start of the FT ICO:

I just want to assure everyone that we will be developing this platform no matter what. This project is something that we really want to complete as the prospects are huge. Not hitting the hard cap instantly was disappointing, but nothing we can’t move past. We still have close to $2m gathered from the crowdsale and the pre-sale. So, we have the resources to make this project into a reality. Even if we don’t hit hard cap, we are not really worried. We really wanted to end the ICO asap and focus on the development of the project, but this won’t make that big of a difference. We will adapt and overcome as needed. However much we gather until the ICO ends, we will invest it all into this project.

What’s Next

  • As mentioned, we will step up our marketing efforts and focus on spreading word about the project on as many places as possible.
  • We will be performing the finishing touches on TokenGen (showcase article) as we integrate the tool with the now deployed Fabric Token smart contract.
  • We are considering raising/removing the max cap on contributions due to interest from our community and because this will help reach the hard cap faster.

Conclusion

First of all, we would like to thank everyone who have purchased Fabric Tokens so far. We really appreciate the vote of confidence. At the moment, about 38 million Fabric Tokens have been allocated out of the 100 million total supply. Let’s see how many of the remaining 62 million FT we can sell before the end of the ICO. Unsold tokens will be burned at the end so people who have bought FT won’t lose any value from their purchases.