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ICONOMI.Performance Fund Launches with Golem Investment

Reading Time: 2 minutes by on November 16, 2016 Altcoins, Finance, News
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ICONOMI has delivered on one of the two promises it gave to shareholders for Q4, 2016; as of November 11, the ICONOMI.Performance fund is online.

The performance fund, which is invite-only currently and aimed at investors seeking the high returns possible with an actively managed fund, became online when ICONOMI announced their investment with Golem, a global decentralized market for computing power, a decision made after months of evaluation and communication with 20 different teams.

Golem looks to make renting computing power much easier, which when combined with powerful tools developers can take advantage of will make resource intensive tasks such as CGI rendering, scientific calculation and machine learning more accessible to everyone.

Golem achieved 100 percent of their goal, with 820,000 ETH raised. ICONOMI was responsible for a small portion of this amount, stating on their Medium post that their “investment was limited to 5000 ETH”, as their goal with the performance fund was to deliver value to shareholders as quickly as possible, not if the ICONOMI personally believed in the fundamentals of a project or not. Clocking in at around $8.2 million in total, this ICO amount is not far off from what ICONOMI made in their own ICO.

ICONOMI has also set an additional two goals for the performance fund; to “establish and determine the guidelines for the development of the ICO”, and to “help ICO projects clarify their business proposition and business plan, and assist them through the process with marketing, communication and other services.” ICONOMI looks to not only provide a better experience for their own efforts but also to raise the bar for ICO’s as a whole.

An additional three or four investments are due before 2016 comes to a close, meaning we should see a flurry of announcements coming in the following weeks. Transparency will be maintained by announcing the amounts invested in each, but will only be announced after the completion of each respective crowdsale, as an effort to avoid any market speculation.

With an objective to deliver the maximum return to the shareholder, it is not clear where ICONOMI will invest next. Both the price of the token (denoted ICN) and the volume traded have jumped over 50 percent this week in recent wake of the news, where the price may continue to increase as more investments are made, as well as once dividends to shareholders start to be paid out.

The price for ICN-XBT on the Kraken exchange, displayed below, is 0.000290 at the time of writing.


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