Blockchain token sale nets $25m in under 15 minutes

aragon, a project that creates software to manage companies, has raised $25 million in under 15 minutes late on Wednesday with the sale of its own token, said Luis Cuende, the project’s co-founder.

The proceeds were the secondlargest amount received by a start-up operating in the blockchain or distributed ledger space, Cuende said. Aragon’s coin is called Aragon Network Token.

Cuende, 21, said Aragon is the first management tool developed specifically to decentralise the creation and maintenance of companies around the world.

Aragon was built on ethereum, a public blockchain similar to bitcoin’s.

Aragon requires only the internet to function, implementing basic features such as governance, fundraising, payroll and accounting. —