Almost eleven months ago, Security Token Market (STM) announced its intent to host its very own Security Token Offering (STO) or ‘tokenized crowdfunding campaign’. After a multi-month period in which the company gauged investor interest with a ‘test the waters’ event hosted through Securitize, the Security Token Market STO officially went live as of July 6th. So how are things progressing as September approaches?
Global Effort
Security Token Market has communicated that the event is already ‘heating up’. Furthermore, the company indicates that response to its STO is more than just positive, but represents a global effort. This involves participation from 75+ investors spanning 15 countries and counting. Clearly, the need for a platform (such as Security Token Market) which tracks and offers metrics surrounding over 200 tokenized securities and 500 STOs, is not limited to select regions – making this a company rife with potential
The event is being facilitated through an arrangement with Securitize, which will see the popular broker/dealer act as a host for the campaign. Meanwhile, the blockchain of choice being used for the event is none other than Avalanche – a choice made due to the ability for Avalanche to offer fast and cheap transactions, and the ability to ‘sign smart contracts on the blockchain’.
Leading the Way
While details on its received investments thus far remain slim, there is one notable tidbit that the company has just shared. The popular SPiCE VC fund is officially a lead investor in the event.
With this in mind, Security Token Market has shared some commentary by SPiCE VC Managing Partner, Tal Elyashiv, who states, “Security Token Market is pioneering the tokenized economy. Not only are they the leading media and data platform for tokenized assets, but by launching their own tokenized Web3 crowdfund they are demonstrating their commitment to the space. SPiCE VC is proud to support their efforts in building a global…
