The latest ICO to see a surge in interest, at least judging from the size of its Telegram group, is Cappasity, an Alternative Reality / Virtual Reality content platform.
At any one time only a handful of the Telegram groups listed on the ICO Whitelist website have more than 50,000 members. In the last week, Cappasity has joined that elite, attracting 63,000 followers.
Increasingly Competitive Space
Cappasity founded in 2013, is an established player in the 3D digitisation space. In 2016 it launched a software product which allows online retailers to create 3D product browsing experiences within their websites. The company hopes this software will give it an edge when it comes to recruiting content creators to its marketplace.
The token sale, which began on 22nd February and runs until 22nd March, is looking to raise $20 million, as the business looks to expand to a blockchain-based model that will allow its products and services to be accessed through payments in cryptocurrency.
The team has already raised $4.9 million in its seed round, and is organising a series of airdrops to distribute up to 10 percent of of its CAPP token supply to early participants.
The Cappasity project is only the latest in a series of VR-related projects to organise a token sale. In recent months, Decentraland, Ceek, GazeCoin and Blockchain 3D Explorer have all organised their own ICOs in a VR / AR market that is becoming increasingly competitive. Many analysts are questioning, however, whether a blockchain-based model for these businesses is apt.