The tZero Initial Coin Offering (ICO) listed on SaftLaunch is poised to be one of the largest ICOs to date. Open only to accredited investors, the pre-sale launched on December 18th only for the largest, institutional investors. Within half a day, over $100 million had been committed for a security token that is being treated as preferred equity. tZero says it is seeking a raise of $250 million but demand seems sufficient to push this one higher.
Today, Saftlaunh, the hosting platform that has been struggling to keep up with investor demand in ICOs, said they had received “unprecedented amount of interest in the tZERO Token Sale,
SaftLaunch added that Offering Memorandum’s were being sent out to all eligible investors based on their country of residence and accreditation status. US investors must go through an accreditation process, according to Title II of the JOBS Act, and validate their status via VerifyInvestor.
SaftLaunch said that due to the enormous amount of interest in the tZERO ICO, their team would be prioritizing applications who have already been verified as accredited.
Concurrently, Patrick Byrne, founder and CEO of Overstock and creator of tZero, apparently circulated the details of an Airdrop. Byrne is incentivizing the crowd investors with free tokens. Byrne said they are giving out (1,160,000) free token for the first 5000 (232t0/person) persons that help to promote the tZero ICO.
After a delayed launch, the tZero ICO is moving fast so expect this one to close ahead of schedule.
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