For those interested in the metrics and details of digital currencies and utility tokens, many turn to services such as CoinMarketCap or CoinGecko. Security Token Market (STM) capably fills a similar – and expanding – role when it comes to digital securities (often referred to as security tokens).
Now with multiple years of growth and experience, STM is looking to grow its operations and become a dominant force with the sector. As a means of achieving this, STM is potentially turning towards its own bread and butter – an STO.
The STM team states that, “After 3 years of living and breathing security tokens, it’s finally time for us to eat our own dog food and tokenize our very own shares! We are pleased to announce the launch of our ‘Test The Waters’ (TTW) crowdfunding campaign hosted on Securitize.”
Test the Waters
It is important to note that – as indicated in the above statement – this announcement does not necessarily represent a full commitment to hosting an STO, but rather to ‘test the waters’, gauging market interest in such a product.
If sufficient interest is shown, STM should have access to a comprehensive suite of services making the digitization and sale of shares as efficient as possible through its partnership with Securitize.
The proposed STO would aim to launch in mid-November, with goal of raising $1,070,000. Investments are expected to have a $100 minimum.
As it stands, STM states that it has already received pledges surpassing its goal from over 200 investors, indicating a high level of interest/demand.
For the time being, investors can continue showing their interest by reserving a spot if STM opts to follow through.
A Ripening Sector
On various occasions, we have noted how subsets of the larger digital asset sector have had their time to shine (NFTs, DeFi tokens, etcetera). Our belief remains that in the very near future, security tokens will experience a similar spike in interest.
With various research and…
