Initial coin offering (ICO) project Egretia has closed its hard cap funding goal of $23.7 million just three minutes after launching its public token offering.
Egretia, an HTML5 blockchain engine and platform, launched a public ICO for its EGT token on May 26 and attained its hard cap of 35,000 ETH, 6 million CMT (Cybermiles), and 1 million ABT (Arcblock), moments after launch.
The company also raised $14.4 million in a pre-sale round launched on April 30.
According to Egretia’s roadmap, over 200,000 developers worldwide will be able to use the Egretia Blockchain SDK to develop HTML5 blockchain games and applications that could reach over a billion devices.
From 8 billion EGT tokens produced by the company, 39 percent were distributed to investors in the pre-sale and public ICO, 27 percent were reserved for the Egretia Foundation, 20 percent were distributed to members of the team, contributors and advisors, while the remaining 14 percent were doled out to business and marketing partners.
Singapore-based Egretia received an Investment Rating of Positive, a Risk Score of 2.5 and a Hype Score of 2.7.