PROPS initial coin offering (ICO) is now accepting registrations on CoinList for accredited investors that are interested in participating in the token sale. The CoinList sale begins on December 11th. Simultaneously, a separate pre-sale of Props tokens will begin on “Republic Crypto” on December 11th as well. The offer on Republic is using the Reg CF exemption and is thus open non accredited investors. Reg CF is capped by law at only $1.07 million and thus the bulk of the ICO will go to accredited investors. This will be the first ever side-by-side ICO for both accredited and non accredited investors using JOBS Act exemptions. The CoinList sale will close on December 18th with token distribution taking place in Q1 of 2018. There is a hard cap of $25 million on the offer.
PROPS is a decentralized ecosystem of video applications that benefits from YouNow’s community of millions currently transacting in a two-sided digital economy in a blockchain-powered model for digital media. According to the offer page, PROPS will have access to 40 million registered users that currently undertake 62,000 micro-transactions a day. This type of broad-based network may benefit from a tokenized environment.
The creators expect rapid uptake by the creation of the PROPS tokens;
“They [users] will spur demand for PROPS day one, making it one of the world’s most widely used cryptocurrencies early on.”
Early investors in PROPS include some pretty big names like; Union Square Ventures, Comcast Ventures, BlockTower Capital, Chris Dixon, Oren Zeev and Notation Capital.
Individuals investing with USD will need to pre-fund their CoinList accounts. If you will be investing with ETH or BTC there is no need to pre-fund.
Allocations will be distributed first-come, first-served. Registration deadline is December 11th.
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