Indiegogo Forays into Crypto with Securities Token Sale for Millionaires

The popular crowdfunding platform Indiegogo launches its first token sale backed by equity ownership stake in a popular ski resort – but it is for millionaires only.

The crowdfunding website Indiegogo has taken its first steps into the blockchain world. The popular network for entrepreneurs announced in a press release its very first security token sale – but the sale is limited only to individuals with net worth of over one million US dollars, or earning more than $200,000.

The token, named Aspen coin, is a tokenized share of common stock in the luxurious St Regis Aspen Resort in Colorado. Users of the platform will be able to invest in the security token through Templum Markets.

“With the blockchain revolution fully underway, we at Indiegogo are excited about the world-changing impact and potential of security tokens,” said Slava Rubin, co-founder of Indiegogo. “Our goal is to diligence each company and provide an access point to our growing network of millions of customers.”

Rubin co-founded Indiegogo alongside Eric Schell and Danae Ringelmann in 2008 as a platform for funding independent movies. Currently, the platform is home to nine million backers from over 235 countries and territories, with headquarters in San Francisco and additional offices in New York. According to the company, more than 800,000 projects have been funded through Indiegogo since its inception.

The St. Regis Aspen Resort is a year-round mountain resort in Aspen, Colorado, three hours away from Denver. The resort is targeted towards celebrities, corporate executives and high net worth individuals, and has over 170 rooms. St. Regis focuses on exclusive private events and business.

While ICOs have come under harsh scrutiny in 2018 due to a high number of scams, Indiegogo’s sale differs as its security token is used as a tool to track an offering of an asset, rather than a traditional cryptocurrency. Additionally, Indiegogo’s offering stands out for its requirements towards investors’ net worth.

In contrast to utility and other kinds of tokens, security tokens are used to represent a traditional security interest – such as shares in a company, or limited liability company – and have been hailed by crypto experts and enthusiasts alike as the next important development in traditional finance. Security tokens offerings cut the middlemen from investment transactions, reducing fees, and increasing market exposure and transaction efficiency.

Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!