The ‘DAO’ Nobody Knows: Now Distributing $1.2 Million Per Month

The ‘DAO’ Nobody Knows: Now Distributing $1.2 Million Per Month

This year has witnessed a meteoric rise in the value of cryptocurrencies. From a total market capitalization of $17 billion at the beginning of 2017 to a current capitalization of over $113 billion today, money has been flowing into the cryptocurrency space like the Nile during rainy season. And that doesn’t even include the traditional venture capital money that’s being invested in companies involved in Bitcoin and other digital assets.

Evolution of Funding

Although the numbers have grown astronomically recently, money has been pouring into this space for several years. Sparked by the first large rise of Bitcoin’s valuation in late 2013, venture capital in blockchain-related companies tripled in 2014. During this phase, the cryptocurrency world followed the traditional route of any nascent industry in acquiring capital: raising funds from established venture capital firms. In the past year or so, however, non-traditional means of raising money and funding projects have arisen. Two instruments in particular have been born: the ICO and the DAO.

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