Algorand Foundation is a Boston, Massachusetts, company that launched its blockchain mainnet on June 19, 2019. At the same time, it concluded a sale of 25 million tokens at a price of $2.40, raising $60 million. The company's press release stated, "The Algorand Foundation is the first organization to conduct a fully transparent global auction on its own blockchain." (Despite its "global" nature, the Algorand Foundation website states, "Please note that participation in auctions is not possible for the following excluded jurisdictions: United States of America and its territories, Canada, Democratic People's Republic of Korea, Cuba, Syria, Iran, Sudan, Republic of Crimea, [and] People's Republic of China . . .")
In earlier fundings, Algorand had raised $66 million from Union Square Ventures and Pillar Venture Capital.
According to Messari, an online cryptocurrency data and research news service, Algorand is the high transaction and settlement speed protocol for a permissionless blockchain. Algorand Foundation founder, Silvio Micali, is an MIT professor and the 2012 winner of the Turing Award, and international prize for computer scientists.
- Algorand Raises $60 Million in Token Sale. CoinDesk.
- Algorand Foundation Marks New Chapter in Global Economics with Inaugural Auction. BusinessWire.
- Auction Registration. Algorand Foundation.
- Blockchain Firm Algorand Raises $60 Million in New Token Sale. CoinTelegraph.
- List of Turing Award laureates by university affiliation. Messari.
- List of Turing Award laureates by university affiliation. Wikipedia.