The SaTT ICO has successfully surpassed its softcap goal within a week. The goal in question was $3,360,000 which has officially been exceeded. This was made public by the company on 9th September and shows how successful the project has been. Furthermore, the offering was able to raise over $1 million after less than 48 hours on the market.
SaTT Sees New Heights
This development is particularly remarkable because Initial Coin Offerings are considered to not be as profitable as they were during their peak in 2017 and 2018. However, SaTT’s sale has gone on to defy expectations.
This news has been enthusiastically received by Gauthier Bros, CEO of Atayen, SaTT’s parent company, who has released a statement regarding the matter.
“We are proud of the support of our community, who, despite the difficulties in the market, saw in the team the potential to realize the first cryptocurrency solution for functional advertising. This sudden financial success will accompany our determination to make SaTT, the 3.0 advertising solution,” he said.
SaTT’s Business Model
Perhaps one of the reasons why the project has done so well despite the dwindling ICO market is the fact that it is attached to the rewarding of creators on the Internet which has become a popular concept with blockchain and cryptocurrency. SaTT works by allowing influencers to monetize and get rewarded for their work. These rewards are based on how well the content itself performs and they are rewarded in SaTT tokens which come with an in-built cryptocurrency wallet. This is an interesting concept because influencers and influencer marketing are very popular on the Internet today. On top of this, more and more resources are being created to reward such influencers for their content. SaTT takes this up in notch by allowing creators to be rewarded based on how much engagement their content receives which benefits both those who create the content and those who consume it.
Perhaps the only thing more impressive than the funds raised thus far is the fact that SaTT is just beginning its run on the market. While the sale has raised millions already, the token itself has not yet been listed on exchanges. In reality, it is due to be listed as from 24th September 2020.
Thus, it is very likely that the project will receive even more visibility. Considering the success the project has seen despite the state of the ICO market, we can expect to hear more from SaTT in the near future.