ICN Launches $ICNT Token After $34 Million Investment Round

ICN, a decentralized cloud services provider, has launched its native token, $ICNT, on major exchanges including Bybit, Binance, Kraken, Gate.io, and Bitget. This launch follows a significant investment round that valued the company at $470 million. The investment was led by NGP Capital, a deep tech fund known for backing innovative technologies, and included participation from other notable investors such as 1kx, No Limit Holdings, Protocol VC, and HV Capital. The total investment amount was $34 million.

ICN's cloud infrastructure is designed to match and surpass centralized hyperscalers in terms of latency, availability, and performance. The network is already live and operational, handling over 23,000 cloud requests per second from more than 1,000 enterprise customers. This makes ICN one of the largest revenue-generating decentralized physical infrastructure networks (DePINs) in the industry, positioning it strongly in the AI infrastructure race.

Kai Wawrzinek, the CEO and co-founder of ICN, highlighted the strategic importance of $ICNT in the network's ecosystem. He stated that the token will allow anyone to participate in the network's growth by earning rewards from HyperNodes. $ICNT is used for provisioning hardware capacity and for staking to secure cloud workloads, tying the token to real-world infrastructure and the growing demand within ICN's ecosystem.

ICN is capitalizing on several strong tailwinds in the cloud industry, including high demand for AI, hardware shortages, and the need for sovereign cloud solutions. These factors are driving the demand for a new foundational layer for the next generation of the internet, which ICN is pioneering. The company aims to challenge the dominance of centralized tech giants by offering a permissionless, open cloud network that supports enterprise, AI, gaming, applications, and end-users.

ICN's vision is to provide a scalable, secure, and community-driven global cloud that offers a true alternative to monopolistic hyperscalers. With real-world adoption already generating million-dollar revenue and a vision for over 200 decentralized cloud services, ICN is poised to disrupt the traditional cloud services market. The launch of $ICNT and the significant investment round underscore ICN's commitment to innovation and its potential to shape the future of digital finance.