Blockchain start-up Fyooz raises more than $600k in private sale

In July Frank and Peter Riklin carved ten commandments into sandstone tablets. The tablets have been placed in the “Schanzengraben” in downtown Zurich in a kind of guerrilla action that aroused a lot of interest in the media. The public has been given the possibility to invest in these commandments via the Fyooz platform. The fate of each commandment will be also decided in the Fyooz market place.

Via the Fyooz platform the blockchain can be used to invest and trade moral and social values. Investors will be able to invest in what they believe in and gain financial exposure to the brands that they cherish the most. It also allows investors to connect with their favourite brands and individuals. The beta version of Fyooz already has leaders in the entertainment industry listed including award-winning comedians, movie directors, and much more.

According to the start-up the complicated Decentralized Finance (DeFi) aspect will barely be noticeable behind a carefully designed application that will be intuitive for token holders to navigate. Token holders will be able to easily buy or sell access to the individuals, brands, and entities that have become tokenized.

This week the company announced that it has closed a private token sale successfully. all of the tokens allocated to the private sale of Fyooz have been sold. Tokens were sold in two instalments with $360k and $275k being raised in the first and second private sale respectively. Demand exceeded supply by a factor of 9. Supply allocations were fully respected resulting in many investors being turned away. In addition the start-up has attracted investors in July and August. The Fyooz listing is scheduled to take place this month.