It’s no secret the cryptocurrency market experienced historical lows throughout 2018. With bearish market sentiment came a more cautious investment strategy by institutions and individuals alike. Cloudbric, however, established itself as one of the few projects that successfully executed a crowd sale in the midst of the 2018 bear market, hitting its total max cap of 10,000 ETH. The first presale sold out in 13 minutes, the second in 21 hours, and the mainsale in a week and a half.

“Retail investors are getting smarter every year, and they’re realizing that a lot of these projects are essentially worthless until they reach a network effect large enough to bring value, or are very close to generating revenue (or already are). I strongly believe that reverse-ICOs are going to be a hot trend in 2019.”

-Han Yoon, Chief Executive Officer of Lunar Digital Assets

There are various contributing factors surrounding Cloudbric’s successful Reverse ICO. Firstly, Cloudbric’s powerhouse team of executives, developers, and advisors brought decades worth of experience to the table. The combined human capital of the Cloudbric team ensured strong direction for the development of the cybersecurity protocol. Secondly, Cloudbric’s strategic partnerships and pre-existing market share with big players in the enterprise tech space and crypto space positioned them for a successful crowdsale. Thirdly, a global marketing and outreach campaign, in partnership with Lunar Digital Assets, enabled participation from the international community to create multi-platform viral content, educating the cryptocurrency and tech community at-large about the project.

“Communication and transparency with our community was a key factor in the successful sales of Cloudbric’s ICO project. Marketing played a big role in this and working with LDA through the ICO journey allowed us to be consistently transparent.”

-Peter Cha, Chief Strategy Officer of Cloudbric

From left to right: Cloudbric CSO, Peter Cha; Cloudbric COO, Joey Song; Cloudbric Digital Marketing Manager, Karen Cruz; Lunar Digital Assets COO, Erwin Wang; Cloudbric CEO & Founder, TJ Jung; Cloudbric CPO, Tai Kim

Here is a break down of their ICO results:

ICO Specifications

• Total token supply: 1,000,000,000 CLB (1 billion CLB)
• Tokens for sale during ICO: 440,000,000 CLB (including bonuses, approximately 44% of total supply)
• Tokens sold: 429,556,845 CLB (approximately 97% of total sale)
• Unsold tokens: 10,443,154 CLB
• All unsold tokens will be burned between November 12th to the 16th.

Lock-ups for CLB Tokens

• CLB tokens sold during the first and second pre sales are subject to lock-up periods
• Lock up period: 3 months starting from October 31st, 2018. The lockup will be lifted on January 31st, 11 AM UTC.
• Tokens distributed to private investors are subject to a 6 month long lock up.
• Tokens distributed to the Cloudbric team members are subject to a 12-month lock-up period.

CLB Tokens Allocated to Bounty Programs & Airdrop Activities

• Tokens used: 3,526,380 CLB
• CLB tokens were distributed during meetups, KakaoTalk events, quizzes, (Korean sites Cobak and Hojaebox) and bounty programs.

CLB Token Holders

• Token holders: 7,095 individuals
• Distribution by nationality
• – 41 countries
• – Korea accounted for 50.9%
• – Other countries: 49.1% (Russia, Ukraine, Vietnam, Indonesia, Nigeria, Germany, France, Switzerland and Poland were the leading participants. Please note that holder nationality is based on data provide in KYC applications.)

Use of proceeds

• Development (R&D): 45%
• Strategy Partners: 25%
• Reserved: 15%
• Operation: 5%
• Marketing: 5%
• Business Development: 5%

Cloudbric’s initial circulating supply is estimated to be a maximum of 380 million CLB.