On Sunday, the Perth-based startup launched its first sale, or "initial coin offering" (ICO), of Power Ledger POWR tokens -- units of ownership of the company traded on the Ethereum cryptocurrency network. Within 72 hours, the company sold out of the 100 million POWRs offered in a public presale, in which the price per token was set, for a total of about $17 million. Power Ledger will be offering another 150 million POWRs on Friday, Sept. 8 in an uncapped public offer, meaning that the tokens’ final price will be determined by the market.
It could...