NASDAQ Listed Phunware Announces Duel Token Structure, One for Securities, Second for Medium of Exchange

Phunware, Inc. (NASDAQ: PHUN), a cloud platform for mobile that provides solutions and services for brands worldwide, has announced the introduction of the “Phun utility token”.

Not too long ago, Phunware issued PhunCoin security tokens. Phunware sold part of the issuance using CoinList’s compliance services and issued a portion on Republic.

PhunCoin will remain a “regulated store of value,” while Phun utility tokens will act as a medium of exchange within the Phunware ecosystem.

Randall Crowder, Chief Operating Officer of Phunware, said that PhunCoin is a regulated investment vehicle that is available pursuant to existing securities regulations in the United States:

“However, we are excited to introduce Phun as a new utility token to not only support our ecosystem’s commercial launch worldwide, but also to enable the international community to get more actively involved as we drive towards mainstream adoption beyond our domestic borders.”

PhunCoin security token purchases afford fractional equity interests in the company’s blockchain-enabled data exchange, including ongoing monthly PhunCoin dividends to token holders totaling 2.5% of the monthly credits purchased by Phunware customers based on their respective pro rata ownership percentage.

Token offerings for the United States, excluding New York residents, have been available via Reg D 506(c) and Reg CF.

According to Phunware, the Reg D 506(c) offering remains open to accredited investors.

Alan Knitowski, Co-Founder and Chief Executive Officer of Phunware, said they want to empower consumers to take control of their digital identity by decentralizing data and eliminating the need for untrustworthy intermediaries that continue to defraud brands and consumers alike.

Phunware said that a formal announcement of the company’s blockchain-enabled data exchange and mobile loyalty ecosystem launch will be provided in late June.