Impossible Cloud Network Launches $ICNT Token, Hits $470M Valuation
- Impossible Cloud Network (ICN) launched its $ICNT token on major exchanges like Binance, Kraken, and Bybit following a $34M raise.
- ICN serves 1,000+ enterprise customers and handles over 23,000 cloud requests per second.
Impossible Cloud Network (ICN), a decentralised cloud services provider, has officially launched its native token, $ICNT, on several Tier 1 centralised exchanges including Bybit, Binance, Kraken, Gate.io, and Bitget.
This milestone follows a $34 million ecosystem investment round led by prominent investors, valuing the company at $470 million.
The investment round was spearheaded by NGP Capital, backed by Nokia and known for supporting deep tech ventures like Xiaomi and Helium. Other contributors included 1kx, No Limit Holdings, Protocol VC, and HV Capital.
The capital infusion underscores strong investor confidence in ICN’s mission to reshape the cloud computing landscape.
Decentralised Cloud at Scale
ICN claims to be the first decentralised cloud provider that not only matches but surpasses centralised hyperscalers in terms of latency, availability, and performance.
The platform currently supports over 23,000 cloud requests per second from more than 1,000 enterprise clients.
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With live services integrating storage, compute, and networking, ICN is positioning itself as a formidable player in the decentralised physical infrastructure network (DePIN) space.
According to CEO and co-founder Kai Wawrzinek, who previously led Goodgame Studios to unicorn status, the $ICNT token is central to the ICN ecosystem.
“$ICNT will play a pivotal role in ICN’s ecosystem, allowing anyone to participate in the network’s growth by earning rewards from HyperNodes,”
said Wawrzinek. The token facilitates provisioning of hardware capacity and staking, aligning it with real-world infrastructure usage and network security.
Based in Switzerland, ICN is emerging as a decentralised alternative to cloud giants like AWS and Google Cloud. Amid rising demand for AI infrastructure, hardware shortages, and a push for sovereign cloud solutions, ICN’s approach is gaining traction.
The company aims to power the next generation of the internet with over 200 planned decentralised services.
Edited by Annette George
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