After the successful launch of BCAP, the first liquid VC Token, Blockchain Capital has announced it participated in the Bancor Network Token allocation event, which took place today at 14:00 GMT.

The crowdsale sold quickly with 396,720 ETH raised, which is around $148,274,191 million in USD at today’s prevailing rates, 396.7m tokens are reserved for allocation out of a total supply of 793.4m total BNT.

BCAP was impressed by the strong consumer engineering background of the Bancor development team whose previous projects, MetaCafe and Mytopia had 50 million and 10 million active users respectively.

“Many teams today in the blockchain space expect to raise capital without building a product. We loved how Bancor spent over a year developing their MVP, put it out on their private testnet and used their own application and smart tokens to run their bounty programs. This is the kind of hard work we want to see before token allocation events,” said Stephens.

Guy Benartzi, Co-founder of Bancor said:

“Blockchain capital was the first to run up the hill and take the arrows on behalf of so many of us in the token space. We’re thrilled to work with investors who are pioneering the industry alongside us. We look forward to a long and fruitful partnership with the team at Blockchain Capital and to contributing to the BCAP token’s success as BNT grows.”