Santiment, a Germany-based crowd sentiment data platform for crypto and blockchain assets, has closed its two-stage token crowdsale on July 5, 2017, in which it raised a total of $12,215,250 USD worth of ETH.

According to the official release, 32,000 ETH was raised in a preliminary community sale on July 4, 2017, followed by a pre-sale facilitated by Cofound.it’s Priority Pass community on July 5, which raised 13,000 ETH in less than 60 seconds and reached the overall cap. The result means Santiment will not hold its public crowdsale planned for July 6, 2017.

“Santiment is proud to announce the successful sell-out of our token crowdsale. Now that the offering is complete, we can accelerate our mission to give crypto critical information packaged in an ideal interface so that traders can make optimal data-driven decisions in rapidly-surging markets. We are immensely grateful for the support of our community. Their support makes our quest to deliver data and analytics to the crypto-markets possible”, Santiment Founder Maksim Balashevich said.

Santiment became the first project to partner with Cofound.it, a distributed global platform connecting startups, experts, and investors worldwide, which recently raised over $14.8 million in a pre-sale token sell-out.

“Cofound.it is delighted to have partnered with Santiment in their crowdsale process, and cemented Cofound.it Priority Pass as a best practice for crowdsales in 2017. The highly successful sale will help to establish Santiment as the leading datafeeds platform for the crypto community and mature the rapidly growing crypto-market”, Cofound.it CEO and Co-founder Jan Isakovic said.

Santiment said that it seeks to provide investors with a comprehensive way to identify and avoid duplicitous crowdsale projects. Using objective data feeds and expertly crafted content, it offers investors an open database of projects that gives them trading advantages and minimizes the risk of their investments. The efforts will be particularly focused on assisting three consumer bases: wealth and hedge fund managers, novice crypto traders, and data vending channels:

• Wealth and hedge fund managers will be able to leverage the Santiment platform to obtain a variety of datafeeds for quantitative trading.
• Traders new to the crypto-markets can use Santiment to obtain easily understandable market insights and trends.
• Data vending channels — including exchanges like eToro, Bittrex, and Bitfinex, as well as asset management platforms like ICONOMI and Melonport — will benefit from real-time data solutions that will provide them a key edge while trading.

The crowdsale funds will be distributed as follows: 50% will be used to develop datafeeds, 15% for datafeeds and service acquisitions, 15% for marketing and business development, 10% for operational expenses, 5% for legal expenses, and 5% remains as a reserve fund, the release said.

Santiment explained that using the SAN token, users and exchanges will be able to access to streams of information and feeds. It added that the token is the sole means of accessing auctions for exclusive datafeeds and content related to token sale and team analysis, market research, project due diligence, and country-specific regulations. Non-exclusive services will also be available through subscriptions payable in fiat currency.

“Already in an alpha stage, Santiment has developed a working mobile app offering historical price feed and charts, a trollbox sentiment feed, and a sentiment journaling game. Thanks to the enormous support of our community, Santiment can continue to build out its mobile and web terminal. Moreover, the crowdsale places Santiment in prime position to establish itself as the financial market data and content platform of choice for the cryptocurrency and blockchain space, comparable to the position that Bloomberg and Thomson Reuters hold in traditional financial markets”, Balashevich said.

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