Cofound.it, a distributed global platform connecting startups, experts, and investors worldwide, has announced that its token pre-sale reached its capacity of $5 million in just 3 hours with over 1,200 investors.

The pre-sale, which started on June 4, 2017 at 5pm CET, was available to Cofound.it’s most engaged supporters via its Priority Pass mechanism. The Priority Pass feature is available to companies that pass through the rigorous evaluation process.

“We are humbled and grateful to our community for the amazing and immediate success of our token pre-sale. It’s proof that many supporters share our vision of a distributed venture capital platform and our belief that the blockchain space must build it”, Cofound.it CEO and Co-founder Jan Isakovic said.

According to the official release, Cofound.it has already connected with more than 50 promising crowdsale projects, with six currently accepted to the program. It plans to launch at least 10 startup projects this year, with an additional 30 projects expected to launch in 2018.

In a related announcement, Cofound.it has named three innovative token crowdsale projects as the first join its incubation program:

• Santiment, a crowd sentiment data platform that lets users access and share valuable financial information to help them make faster crypto-trading decisions with greater confidence. Santiment’s month-long crowdsale will commence on June 30, 2017.
• Musiconomi, the expansion on the platform built by the Musicoin Project. In addition to enabling musicians to release their work, create simplified licenses, and get paid directly and immediately for each play, Musiconomi will give entrepreneurial music enthusiasts a chance to participate in the growing music economy, as well as provide a world-class streaming service to listeners. The Musiconomi crowdsale is scheduled for July, 2017.
• X8currency, a stable digital stable currency backed by a diversified investment portfolio of fiat currencies. X8currency will leverage artificial intelligence (AI) technology and aims to provide a safe haven for crypto investors. The project’s crowdsale will begin in July 2017.

Santiment, Musiconomi, and X8currency will each use Cofound.it Priority Pass to kickstart their crowdsales, the release said. This will give projects the opportunity to appeal to Cofound.it’s established network of supporters.

“The success of using Cofound.it Priority Pass in the crowdsale has pioneered an innovative way of conducting crowdsales for exceptional startups. Cofound.it has established the new standard for allowing developing companies to efficiently reach a high volume of potential investors and to be able to more quickly dedicate their energies to growing their business,” Isakovic said.

With the highly successful pre-sale, less than $7 million is left for investors in the Cofound.it token crowdsale, which will kick off on Wednesday, 07 June 2017, 11am EST / 5pm CET. Investors can participate in the crowdsale with Ethereum (ETH). The tokens, called CFI, are intended to be traded on major exchanges.