Crowdfunding Firm Indiegogo to Sell Real Estate Backed Security Tokens
According to an official post on Indiegogo's website, which is an international firm dealing in crowdfunding, the company will be seen promoting a new real estate backed token. This will enable different accredited investors to buy shares of the upcoming Hotel St. Regis Aspen in the form of virtual tokens.
As per The Verge's recent report, the digital token Aspen has been registered with the United States Securities and Exchange Commission (SEC) and it will be available for purchase either with US dollars or with cryptocurrencies like Bitcoin and Ethereum.
The crowdfunding project, which is based on cryptocurrency, is expecting to raise 12 million dollars for the investment of the St. Regis Aspen hotel. In late 2017, the presale of the first initial coin offering was announced by the San Francisco-based company Indiegogo which was in collaboration with an equity crowdfunding website MicroVentures.
"Digital token Aspen has been registered with the United States Securities and Exchange Commission (SEC)"
In an announcement, the Indiegogo company cleared that it is collaborating with the Financial Industry Regulatory Authority(FINRA) registered broker-dealer MicroVentures to make sure that their offerings are SEC compliant.
Slava Rubin, who is the co-founder of Indiegogo mentioned that cryptocurrencies and security backed coins are two totally different things. He emphasized the point that asset-backed coins/tokens are less speculative and have great potential for growth in the upcoming future.
"the Indiegogo company cleared that it is collaborating with the Financial Industry Regulatory Authority(FINRA) registered broker-dealer MicroVentures"
Indiegogo company, founded in 2008, is the one of the early crowdfunding platforms to allow the public to contribute towards charities, startups, and ideas by charging a minimal 5% contribution fee. In 2016, this company launched Equity Crowdfunding where anyone can invest and can own a share of their favorite startups.