Neuromation, a Tallinn, Estonia-based blockchain and distributed synthetic data platform for deep learning applications, sold out of its issued Neurotokens (NTK) after just 8 hours of public sale.
The public sale along with the preliminary sales period resulted in 60 million Neurotokens sold for a total of $50m.
The contributions were collected in Ethereum, Bitcoin, and other major altcoins from participants from 89 countries.
The company will use funds to continue to build out its platform, whose first version is slated to be available till the end of first quarter 2018.
Led by Maxim Prasolov, Chief Executive Officer, Neuromation is building a platform for the AI ecosystem uniting market resources, the scientific community, and other parties in a single marketplace.
The issued Neurotokens will be used by companies requiring AI solutions as a currency for payment for miners’ services. Holders will be able to use them for payments for services on the Neuromation platform, and trade them through cryptocurrency exchanges.