WINGS, a decentralized platform to create, crowdfund, join and manage projects using blockchain and smart contracts, today announced reaching over 1735 BTC in campaign contributions (about $1.77 million).

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The developers explain that using WINGS, “decentralized autonomous organization” (DAO) projects are first vetted and valued by a global community before moving to the crowdfunding stage; project funds are kept in individual smart contract enforced escrows while project backers have the ability to get involved in project governance.

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WINGS owners who actively forecast are rewarded with a fraction of every successful project based on their forecasting ability. In return, projects get feedback and market valuation insights prior to conducting their funding campaign, and those giving funds to a project get valuation and risk insights based on the swarm intelligence. Crowdfunding can take the form of donations, rewards or equity.

“The $1.7 Million in support we have received so far from the cryptocurrency community and the number projects which have contacted us to use the systems affirms the need for a object, intelligence and scientific approach to global crowdfunding and project governance,” said Boris Povod, President of the WINGS Foundation Council, “In 2017 it is our goal to us this funding to accelerate the development of WINGS in order to harness blockchain technology and crowd intelligence powering the next-generation of global project funding and management.”

Started on November 18, 2016, the WINGS donation-based crowdfunding campaign is set to end on January 6, 2017.