FANTOM Foundation has successfully raised $40,000,000 USD in the ICO on June, 2018. The vision of FANTOM is to grant compatibility between all transaction bodies around the world using groundbreaking fast and highly scalable DAG technology that can be deployed at scale in the real world, and to create new infrastructure with high reliability that allows for real-time transactions and data sharing. FANTOM has the intention of being used on a large scale in various industry verticals, such as telecommunications, food tech, finance, logistics, smart cities, e-Government and others. The FANTOM Foundation also intends to create the FANTOM platform along with the new DAG-based smart contract ecosystem that can be used by all current and future partner companies around the world. By facilitating real-time global transactions with high accuracy and reliability, the FANTOM Foundation will lead the next generation of distributed ledger technologies.

FANTOM holds a close relationship with Korea FoodTech Association along with companies in the Korean food tech industry. The initial application of FANTOM platform will be on this area actively cooperating with Korean Foodtech Association, which holds about 90 member companies. FANTOM aims to surpass the existing limits that current blockchain technology is facing. Food tech industry embraces many technologies used in daily life such as payment, rewards, delivery, LBS, SNS, big data etc. The success of FANTOM platform in forming an ecosystem in the food tech industry will prove the stability and the performance of the platform. FANTOM’s platform is actively being developed by top-tier developers around the world, including developers from Yonsei University, POSTech and Sydney University.