Category Archives: Tezos

$232 Million: Tezos Blockchain Project Finishes Record-Setting Token Sale

Former Tweney Media client Tezos just had the most successful fundraising event for a new blockchain technology ever held.

Tweney Media helped Tezos with content and PR from approximately November through May of this year, leading to coverage in Wired, Coindesk, and other publications; we also helped them produce their intro video.

The success of their fundraising is due entirely to the brilliance of the founding team, however. Tezos has a uniquely compelling model for self-governance, and implements smart contracts through a new, carefully built language they call Michelson.

From a recent writeup of the fundraising event on Coindesk:

At close, Tezos had netted 65,627 BTC (worth roughly $156m at current prices) and 361,122 ETH (worth about $76m). The crowdsale, which didn’t have a cap on the total amount of tokens sold, began on July 1, and was timed with the passage of 2,000 transaction blocks on the bitcoin network.The total represents the most collected via an ICO to date, topping the amount raised by Bancor, a platform for launching new blockchain tokens, which raised $150m at then-current prices in mid-June.

At its heart, Tezos tackles the question of governance and development in the context of a decentralized network composed of different entities with possibly varying incentives and goals. The project has been described in the past as a “self-amending” blockchain, given that one of its central concepts is the ability for network-wide changes to be decided upon at the protocol level by stakeholders.

In a conversation with CoinDesk earlier this year, Tezos co-founder and technology chief Arthur Breitman explained that those mechanics would act as a kind of “rule of law” that could work to prevent conflicts like the ethereum blockchain split following the collapse of the smart-contract funding vehicle The DAO last summer.

He told CoinDesk in February: “What we’re trying to bring, in some sense, is a rule of law that is, OK, if we have to have these changes because the network needs to evolve, at least we need to have a clear, decentralized procedure for making those changes.”

Source: $232 Million: Tezos Blockchain Project Finishes Record-Setting Token Sale – CoinDesk

Video: Introduction to Tezos

Tezos is an all-new smart contract platform built with security and future growth in mind. Its code is built to facilitate formal (mathematical) verification, and governance is built into the Tezos protocol itself. The platform is currently active on a test network and is preparing for fundraising event in June.

Tweney Media helped Tezos with its early messaging and media outreach, leading to coverage in WIRED as well as contributed articles in TechCrunch, Coindesk, and elsewhere.

We also scripted and produced this 2-minute explainer video starring the Tezos cofounders, with a combination of in-studio shots and animation.

Note: This is the second blockchain startup Tweney Media has done extensive work for. The previous one was Cosmos, for which we did message and media outreach around its public launch at International Blockchain Week in Shanghai during September 2016; we also scripted and executive-produced the introduction to Cosmos video. Cosmos went on to raise $17M in 5 minutes in its initial coin offering.

The Tezos founders are smart, dedicated, and have a great set of ideas about how to make blockchains and smart contracts work better. We wish them the best of luck in their fundraiser and beyond.