WINGS, a decentralized platform to create, crowdfund, join, and manage projects using blockchain and smart contracts, has announced that it received a little over $1.7 million in donations (1700+ BTC).

Started on November 18, 2016, the WINGS donation-based crowdfunding has witnessed over 1200 people donating funds in the form or Bitcoin (BTC), Ether (ETH), Ethereum Classic (ETC), Litecoin (LTC), and Ripple (XRP). The campaign is set to end on January 6, 2017 at 6 AM UTC-0.

According to the official release, Switzerland-based WINGS Foundation is raising Funds for a next-generation decentralized crowdfunding and organization management platform on ethereum and bitcoin blockchains. After the conclusion of the funding round, 75 million “WINGS” will be allocated by the WINGS community for selecting, evaluating and forecasting on crowdfunding projects, and for making decisions for the WINGS DAO.

“The $1.7 Million in support we have received so far from the cryptocurrency community and the number of projects which have contacted us to use the systems affirms the need for an objective, intelligent and scientific approach to global crowdfunding and project governance,” said Boris Povod, President of the WINGS Foundation Council, “In 2017 it is our goal to use this funding to accelerate the development of WINGS in order to harness blockchain technology and crowd intelligence powering the next-generation of global project funding and management.”

WINGS explains that token-holders, who actively forecast, are rewarded with a fraction of every funded project, based on their forecasting ability. In return, projects get feedback and market valuation insights prior to conducting their funding campaign, and those giving funds to a project get valuation and risk insights based on the swarm intelligence.

Projects launched using WINGS use a new coordination technology that combines blockchains and smart contracts termed as "decentralized autonomous organization" (DAO). Using WINGS, DAO projects are first vetted and valued by a global community before moving to the crowdfunding stage; project funds are kept in individual smart contract enforced escrows while project backers have the ability to get involved in project governance.