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ICOs Get Dedicated NYC Conference As Gnosis Quarantines 95% of Tokens

The first-ever Token Summit event is set to take place May 25 in New York following the culmination of Consensus 2017.

The “bookend” conference, which focuses specifically on the world of token offerings and its future, has received sponsorship from ShapeShift, Coinbase and Storj among others.

“Cryptographically secured digital assets and Blockchain technology are dramatically changing the world of finance, investments, startups and venture capital, while spurring business model innovation on a global scale,” organizer William Mougayar said in a release Tuesday.

“Token Summit will be a seminal event for those who want to learn about the newest methods of capital raising and the ways in which tokenized money is disrupting our economy.”

The conference notes that frenetic activity has surrounded token sales and ICOs this year, some not altogether positive.

“ICOs have been a controversial but rapid method of funding for fintech companies aiming to bring products to market quickly,” the release continues.

The announcement of the dedicated event coincides with the Blockchain startup Gnosis announcing it would not touch 95 percent of its $298.5 mln funds “for at least a year.”

After a token sale which saw five percent of tokens not reserved sell out in around 10 minutes netting $12 mln, developers added they rejected an extra three mln in bids for “ethical” reasons.

“It wasn’t ethically responsible to accept those additional bids because we had already reached our capital target,” founder Martin Koppelmann told Reuters.

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