LONDON, Oct. 21, 2017 /PRNewswire/ -- DOVU's token sale has ended. The company collected a total of 20,000 Ether (ETH), with a current value of $6.2 million. This puts the project in a strong position to move forwards to build and market its core product.
DOVU, which is backed by Jaguar Land Rover's innovation arm InMotion, aims to equip the transport industry with high-quality datasets. Data – in a wide variety of forms, from up-to-date information about the weather to details about the driving style and journeys of individuals – is critical for developers and businesses in the transport sector. However, it is extremely difficult to obtain data of the necessary scope and granularity. DOVU will create a secure blockchain-based marketplace for mobility data, sourced from a large number of grassroots users, to solve this problem. Those who submit data to the network will be rewarded with DOV tokens, which are also the means of payment for developers to access this aggregated data.
Token sale success
The concept was powerful enough to attract a large number of investors to DOVU's token sale. Distribution was extremely wide, with the two-week-long sale attracting participants from over 40 countries.
Our token sale is not the end of our journey, but the beginning. DOVU has hit its funding milestones, and we're proud of the team and community! Over the course of the next few months we'll be announcing exciting partnerships and protocol developments. We're going the hire the best blockchain talent, so if that's you, reach out. Now the hard work starts.
- Irfon Watkins, DOVU CEO
Whilst development in earnest now begins, there are a number of post-token sale issues still to deal with, including bounty distribution and exchange listings. Bounties will be distributed over the course of the next month, and exchange partners will be announced as they are arranged. The bonus for token holders who were affected by the DDoS issues at the open of the crowdsale will also be distributed in due course. Further details can be found in DOVU's most recent blog post.