Financing an ICO is a complex process that can take months, and the ICO market has seen a significant spike in recent weeks due to the ongoing political crisis in Venezuela.
Many ICOs are also currently in the early stages, as investors have not yet received a complete listing or their tokens have yet to be traded on exchanges.
While the first batch of ICOs have begun to roll out, it appears that they are not necessarily ready for prime time, as several tokens have already fallen victim to fraud.
In the wake of the Venezuela crisis, several ICOs started to roll in, including the new platform Tutorio and the TutorToken, which is a smart contract-based token that allows the user to pay a fee for a token’s issuance.
TutorIO tokens are based on Tutor Protocol, an Ethereum smart contract framework developed by Tutor Capital.
However, the platform has been plagued with a series of issues since the project was announced, including its ICO being delayed, a security breach, and its token being removed from the market.
In an attempt to alleviate some of the uncertainty, Tutor launched a crowdsale on October 4, and it has now raised over $1 million in a crowdsales that began on October 7.
TutOR has since issued over 20,000 tokens to its users, and this amount has now exceeded $1.7 million, bringing the total amount raised to over $3.6 million.
The crowdsale is expected to be over by November 2, and by this point the team has already raised $1,065,000 in the crowdsale, making it one of the most successful crowdsales in the ICO industry.
While Tutor has managed to raise more than its $1M goal in less than two weeks, the team is still facing problems, as the tokens are not being distributed and are currently being sold on the secondary market, which has seen an uptick in sales.
This has caused a lot of confusion among investors, as it is unclear how the Tutors will be distributed to the public.
Despite these issues, the Tutortors token has already seen strong sales, with more than 20,800 Tutors already in circulation.
It seems that the platform will soon be able to move beyond the initial hype surrounding its token.
While it may not be easy to get your hands on the token, the creators of Tutor are confident that the Tutoro team will have the platform on track to deliver its vision for the future of online payments.
“We are confident we will have our token available in November,” explained Jorge Gonzalez, the CEO of Tutoro.
“This is our first ICO, but it is a great start.”
With Tutor’s ICO being such a successful crowdfund, many investors are now thinking about their next project, and many are looking for a way to get in on the action.
Tutors ICO is expected by the end of the year, and Tutor plans to issue its tokens to the general public once the crowdsales are over.