The Pillar project, which is being run by CVA member company 20/30, is currently running its token launch online. This was the occasion for Wired magazine to interview 20/30’s founder David Siegel as part of a larger article on token launches.
As Siegel told the magazine, while the Pillar idea has been around for a long time, until now he had not been able to raise money in the traditional VC world. Thanks to the advent of the token launch, he can now do so directly with the public.
“I couldn’t raise any money for Twenty Thirty from investors, because they didn’t get what we were doing; now we have ordinary people hammering our email about Pillar,” Siegel says. “These people really want to fund this open source project.”
The article goes on to discuss the pros and cons of token launches – often called ICOs though, in the opinion of an increasing number of people, more properly referred to as token generating events or TGEs – and the opportunities and challenges they represent.