The European-based blockchain technical incubator Oceanlabs is undertaking its ICO to raise funds to further its goal of building accessible applications on the Waves blockchain. In an attempt to bring the Waves platform ways to simplify and use blockchain data, the Belgian incubator has noted the rising interest and growth of Waves and believes it can assist to support this. The ICO began on August 7th and ends on the 31st August 2017 8:00AM GMT, or when the hard cap of $35 million is reached.

Febrice Distefano, Founder of Oceanlabs, explained: “We have a lot of applications and features planned, probably years of work if I follow all my ideas. But the first one we want to focus on is our actual prototype Gravit. The engine is the foundation of our ecosystem, and the website will benefit from any new feature we bring to the platform (encryption, trading analysis, blockchain storage, automation…). This website will become the first blockchain powered social network with many automated features and content.”

The applications that Oceanlabs plan to build will help ICO creators present blockchain data in a simplified way to their investors and to help build future partnerships with third parties that may need to access this data. Another application is a Waves payment system, where users can pay for commodity goods with Waves tokens. According to its whitepaper, Oceanlabs plans to create a wide range of applications on Waves.

Being a community-driven project, Oceanlabs have also opted to support 25 Waves tokens in their ICO, along with accepting Bitcoin, Ethereum, USD, EURO and Waves.