Crowdfunding Giant Indiegogo Lists 1st Safety Token ICO
Crowdfunding giant Indiegogo has announced that it will expand its nascent initial coin supplying (ICO) listing service to include safety tokens, and the first such offering is now live on its platform.
The very first safety token created offered by way of Indiegogo&rsquos ICO platform is that of St. Regis Aspen Resort, a luxury hotel nestled in Colorado’s Rocky Mountains. The supplying, which is restricted to accredited investors, will permit contributors to acquire Aspen Coins, which represent tokenized shares in a single-asset true estate investment trust (REIT) created exclusively for the objective of holding the $18 million in St. Regis Aspen stock produced obtainable through the sale.
&ldquoSecurity token offerings are the investment tool of the future, a mechanism developed to retailer wealth by utilizing earnings-generating digital assets,&rdquo said Stephane de Baets, founder and president of Elevated Returns, the asset management firm that owns the resort. &ldquoBy permitting access to investing in conventional assets like real estate, we are producing a new chance for investors to explore an ownership stake in one thing previously only accessible to private investors and high net worth individuals. Indiegogo is a effectively identified and trusted name in alternative funding and cryptocurrency, creating them an extraordinary companion for us to leverage their influence, experience and worldwide audience.&rdquo
Certified investors can contribute to the St. Regis Aspen ICO employing USD, BTC, or ETH. Aspen Coins are structured as ERC-20 tokens, meaning that they can be held in any Ethereum wallet. However, due to federal securities regulations, they might only be traded by way of an SEC-registered option trading method (ATS) operated by Templum Markets LLC, the broker-dealer who is overseeing the ICO in partnership with Indiegogo..
Slava Rubin, co-founder of Indiegogo, stated:
&ldquoWe have constantly strived to foster innovation and supply our customers access to some of the most novel and interesting items and ideas from about the world. With the blockchain revolution completely underway, we are excited about the world-changing impact and prospective of safety tokens. Our objective is to give an access point to our growing network of millions of clients and the opportunity to own a fragmented interest in the St. Regis Aspen Resort.&rdquo
As CCN reported, Indiegogo had initially launched its ICO platform in Dec. 2017, and its first listed project, the Fan-Controlled Football League (FCFL) swiftly reached its $five million funding target. Nonetheless, in spite of reporting a “deluge of interest” from firms seeking to launch their token sales by means of the service, Indiegogo did not list any much more ICOs for the duration of the initial two quarters of 2018.
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Published at Thu, 23 Aug 2018 20:51:54 +0000