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Science Inc.'s ICO raises a fraction of its goal

Rebecca Zisser / Axios

Science Inc. announced in August that it would raise up to $100 million via an initial coin offering, for the purpose of funding a new incubator cohort of blockchain-based startups. But, with less than a week to go, Science only has raised around $12 million.

Why it matters: These results show that the current token sale craze won't result in wild success for everyone. It also raises questions as to whether investors saw true value in backing a startup incubator for the promise of returns from the yet-to-be-selected startups.