Predictive analytics firm Endor closed the pre-sale for its EDR blockchain token by reaching the pre-determined cap of $45 million.
The successful funding event was made possible by the support of investors worldwide. Requests for participation even amounted to $320 million in potential capital. However, Endor held true to its committed pre-sale cap and regulated contributions to allow more users to join.
EDR tokens are the fuel for the company’s Endor.coin Protocol – a blockchain-based protocol that allows users to access accurate predictions without the need for computing and data expertise. Endor built what it considers the “Google” for predictions where users only need to ask questions and get predictions as results.
Users have to spend EDR tokens to get access to the prediction services but tokens can also be earned by developers who contribute to the platform’s development. The protocol is built to be democratic, trustless, and censorship-resistant.
Previously, Endor has worked with established companies like Walmart and MasterCard on their respective data projects. Now, Endor believes that blockchain technology would enable the venture to bring predictive analytics to a wider audience.
“We are standing on the verge of a revolution, and the breaking of paradigms. Blockchain technology is the key to data sovereignty, unlocking the possibility to monetize one’s data assets while maintaining one’s privacy. It can disrupt technologies, industries, and nations,” Endor co-founder and MIT professor Alex Pentland said.
Since the cap has been reached, the company will now skip holding the scheduled public sale and move on to its next milestones.
Proceeds of the token sale enables the company to move forward with its development. It hopes to start rolling out predictions functionalities starting this second half of 2018.
By 2020, Endor envisions offering a do-it-yourself platform that would enable organizations and businesses to work on their own data using the catalog of features that will be built on the platform over the next two years.
Endor was founded in 2014 as an MIT spinoff. At the center of Endor’s technology is Social Physics – a branch of knowledge that uses mathematical and statistical tools inspired by science to analyze human-driven events such as consumer behavior and market dynamics.
Endor’s platform will also be optimized for crypto and blockchain data. By employing artificial intelligence and machine learning together with the community’s contributions, the platform has the potential to make the crypto market predictable for the benefit of consumers and investors alike.
For further information, visit https://www.endor.com
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