A startup aiming to build a decentralized marketplace has raised $15 million in an initial coin offering.
Listia, which is planning to launch its decentralized marketplace next month, drew funding from more than 4,000 people during the sale. Founded in 2009, the startup already operates a more traditional online market but is moving develop new services by utilizing the technology.
The company said that the sale ended in about 12 minutes after it hit the hard-cap of $15 million. Contributors to the sale include ConsenSys Ventures and Tetras Capital, according to CEO Gee Chuang.
The company also announced that it will launch its Ink Protocol on its marketplace on Feb. 28. On the same day, the site’s users will receive Listia’s native XNK tokens, which they can use to purchase or sell goods listed on the company’s website. Chuang said the launch will see up to 10 million users receiving XNK tokens.