Civil ICO Returns Funds After Failing to Meet Token Sales Target
Cryptovest
Published Oct 18, 2018 09:17AM ET
Updated Oct 18, 2018 10:21AM ET
Civil ICO Returns Funds After Failing to Meet Token Sales Target
The Civil ICO became an indicator that the industry has cooled off and token sales no longer spark the same enthusiasm. The project announced it is rolling back its initial token sales, and returning the investments.
The Civil team announced in a recent blog :
“It’s a setback for us, though not a shock. We watched the CVL token sale’s progress with the rest of you. We expected a different outcome when we launched the sale, but circumstances changed. We learned a lot of lessons which we will reflect on in the coming weeks and share with our community and the public.”
Still, the Civil project will launch as promised, sponsoring 14 newsrooms with a partial grant of $3.5 million from ConsenSys. But the project will have to go on without the $8 million equ...
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