Today's News
Earlier today at the EOS Hong Kong meet up, we heard a special announcement from the EOS team. An additional large VC joint venture was added to the growing list. Michael Cao is best known for being the CEO of ZoomHash and as a key contributor to other blockchain infrastructure projects around the world.
Recap
This marks the fifth such pledge from large institutions and investors. The complete list is:
- Block.one at 1 billion dollars
- Mike Novagratz's Galaxy Digital at 325 million dollars
- Eric Schmidt's Tomorrow Ventures at 50 million dollars
- Finlab AG at 100 million
- Michael Cao and Winnie Liu's EOS Global at 200 million
Analysis
According to Business Insider, the entire ICO market last year raised 5.6 billion dollars in 2017. If we are being conservative, we can assume that Block.one is using it's own billion dollar fund to match these VC's dollar for dollar, and we can bring the estimated VC money being invested into EOS projects to be about 1.17 billion dollars. If VC's money is any indication, EOS's ICO economy is already the size of 1/5th of the entire crypto ICO market last year.
EOS For Investors Series:
Don't forget to read the EOS for Investor Series for a deeper view and analysis of EOS
https://steemit.com/eos/@hassananon/eos-for-investors-parallel-processing-on-the-eos-blockchain
https://steemit.com/eos/@hassananon/eos-for-investors-what-about-scalability
https://steemit.com/eos/@hassananon/eos-for-investors-eos-s-delegated-proof-of-stake-consensus
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