Indiegogo has officially transitioned to STOs, with a security token already listed on the Indiegogo platform. While the crowdfunding pioneer has raised funds for ICOs in the past, they have now initiated their first venture in the realm of securities tokens.
Crowdfunding trailblazer Indiegogo has extensive experience in raising funds. Throughout the past 10 years they’ve helped various companies in over 232 countries raise more than $1 Billion to date.
A Hesitant Start
In December of 2017, they extended their operations to include the acquisition of capital for Initial Coin Offerings (ICOs) and Token Generation Events (TGEs). Their first client was the Fan-Controlled Football League (FCFL), who reached their target of $5 Million without any issue. Following such success, Indiegogo decided to pause such operations. Their official statement said the following:
However, it appears as though their time-off was well spent. They currently have a live offering (as of September 2018) for a security token, called the Aspen Coin, which is backed by common shares in a single asset real estate investment trust which owns the St. Regis Aspen Resort, a luxury asset.
The St. Regis Aspen Resort
The luxury resort is booked year-round, with numerous ski attractions in the winter, and the beauty of the Rocky Mountains in the summer. The property contains 179 rooms, 25 luxury suites, and a 15,000 square foot luxury spa.
Slava Rubin, a co-founder of Indiegogo, summarized the historic event by saying,
The Aspen Coin is a standard ERC-20 token, which can be purchased with BTC, ETH, or even USD. However, since it is classified as a security token, it is subject to strict regulations when compared to typical utility tokens or digital currency coins.
The Strong Future of STOs
Despite the added regulations, it is clear that they feature no intimidation to the individuals handling this STO. Stephane de Baets, the president of the asset management firm which owns the St. Regis resort, said the following,
Will Indiegogo’s time off from ICOs prove beneficial with their new STO? What does such a transition say about the future of STOs? We want to know what you think below.
Images Courtesy of Indiegogo.
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