The tZero initial coin offering is one of the most anticipated ICOs scheduled to take place this quarter. tZero, an offshoot of Overstock.com, is founder Patrick Byrne’s vision of the digital asset future. While the past year has been a sugar rush bonanza of global ICOs raising incredible sums, regulators around the world are wising up and moving to enforce existing and new regulations to better control these investments. tZero will be the first preferred equity security token to be issued and represents the likely future of tokenized securities as the industry becomes more professionalized.
Commenting on the primary offering by tZero, SAFTLaunch states;
“The demand and level of interest we’ve seen reassures us greatly in our belief of a second wave of Tokenized Security Offerings (ICO 2.0). tZERO and its partners, SAFTLaunch and Area 52, are building the infrastructural layer for a legal and compliant ICO framework, to support an even bigger second wave of this incredible disruption of financial markets.“
SAFTLaunch says the offering will consist of two steps for qualified investors (IE verified Accredited in the US).
Investors must sign the SAFE agreement before January 25th when the platform will determine who will be eligible to participate. After receiving a countersigned SAFE agreement, investor may use their Ethereum wallet (exchange wallets will not work), to transfer funds ( tZERO is only accepting BTC, ETH, and USD) within 24 hours of receiving the countersigned SAFE agreement.
So how much will tZero raise? At last report, management said it would target $250 million but previously reports had pegged that amount even higher.
tZero has already announced several interesting agreements and partnerships. The forthcoming KODAKCoin has committed to trade on the tZero platform. PolyMath is in the mix too. Polymath wants to be the industry first security token launch pad becoming the open-source standard for launching securities tokens and tZero is leveraging these services.
Why is this all so important?
The entire process is a bit of digital asset trailblazing. Depending on how this all goes, we may see more regulated securities tokens travel down a similar path. In the long run, security ICOs will not work unless they adhere to existing securities regulations.
As Patrick Byrne said this past week;
“We’re going to disrupt institutions that were binding civilization together for thousands of years.”
Here we go…
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