Petro ICO (2018): Sale History & Outcome
Petro was a Venezuelan state-issued cryptocurrency backed by oil reserves, launched in 2018. The project ran on a combination of the NEM blockchain and a custom chain.
| Token | Petro (PTR) |
|---|---|
| Sale year | 2018 |
| Category | state-issued oil token |
| Chain | NEM/custom |
| Documented figure | not visible at the cited source |
| Outcome | failed |
| Data tier | 1 — hand-verified |
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What the record shows
The Venezuelan government claimed the Petro token had a pre-sale valuation of USD 3.3 billion between February and March 2018, though no independent audit ever confirmed this figure. The token project ultimately failed, with operations ceasing and assets liquidated on 15 January 2024.
Era context: ico mania (2017–2018)
The Petro sale occurred during the ICO Mania period when token projects routinely raised large sums rapidly, though many later collapsed. This era saw both record-breaking sales and subsequent widespread failures across the cryptocurrency sector.
This sale is one of the 234 entries in our ICO Mania (2017–2018) era archive, part of the complete history of crypto presales — a sourced dataset where every figure links to the page that shows it.
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More from this era
- Pibble (2018)
- Pincoin / iFan (Modern Tech) (2018)
- Pincoin (Modern Tech) (2018)
- Polymath (2018)
- PolySwarm (2018)
- Prodeum (2018)
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Sources
- https://en.wikipedia.org/wiki/Petro_(token)
- https://www.coindesk.com/policy/2024/01/15/venezuela-ends-controversial-petro-cryptocurrency-reports
- https://thepaypers.com/crypto-web3-and-cbdc/news/venezuela-terminates-petro-cryptocurrency-programme
This page is historical research built from a sourced dataset — not a recommendation to buy anything. Token sales are high-risk. Money figures appear only where the cited source shows one. Corrections with sources: support@bmic.ai.