Wall&Main is a new crowdfunding platform that is crowdfunding itself using a pretty remarkable tiered system of rewards. The platform will reward supporters with cheap MileagePlus frequent flyer miles. Each mile will run 3 cents.
Backers can lay claim to up to a million miles. This presents a reportedly unprecedented opportunity to obtain frequent flyer miles in bulk. This is part of what Wall&Main is calling “The Founding Champion℠” packages.
“The Founding Champion packages are must-buy for any savvy traveler, ” said Randy Petersen, founder of FlyerTalk and InsideFlyer. “If travelers use the miles wisely, the packages could easily be worth two to three times the face value.”
Wall&Main’s Founding Champion packages provide travel benefits and the following frequent flyer miles award:
- Bronze: $4,500 includes 150,000 frequent flyer miles
- Silver: $7,500 includes 250,000 frequent flyer miles
- Gold: $15,000 includes 500,000 frequent flyer miles
- Platinum: $30,000 includes 1 million frequent flyer miles
Michael London, Founder & CEO of Wall&Main, said: “Backing Wall&Main is not just an opportunity to build the nation’s most unique crowdfunding business; it is a way to accelerate economic growth by creating jobs across the country. Wall&Main is dedicated to reigniting the dynamism of the American economy and democratizing access to capital. By partnering with one of the leading global airlines and our other premier partners, Wall&Main has created an unprecedented set of travel benefits that represent a tremendous value.”
Wall&Main will act like a business incubator, providing companies with a complete suite of business services before, during and after the crowdfunding event. Three firms have engaged with Wall&Main and plan to initiate a crowd-raise as soon as regulators from the Securities and Exchange Commission approve the final rules under the JOBS Act, which is expected in the second half of 2013.