On December 12, the well-known international crowdfunding website Indiegogo announced that the firm is getting into cryptocurrencies and initial coin offerings (ICO). Now Indiegogo users can utilize the firm’s platform to invest in digital token sales that are carefully audited and comply with U.S. regulatory guidelines.
Indiegogo Joins the Token Economy
Indiegogo is a popular crowdfunding platform headquartered in San Francisco that was founded in 2008 by Eric Schell, Slava Rubin, and Danae Ringelmann. The site is one of the first pioneers of online crowdfunding, allowing people to solicit funds for various efforts and business startups. This week Indiegogo revealed that the company has noticed the $3.6bn ICO economy that has spread across the world. The firm thinks the idea of raising funds through digital token sales is “revolutionary” as they believe ICOs allow more efficient liquidity and utility. Now Indiegogo has created a dedicated platform that’s tailored to U.S. regulated token sales.
“There’s no question about it — cryptocurrency is a hot topic these days. With bitcoin doubling in value in the past couple of weeks, there has been a lot of buzz about the ‘tokenization’ of the global economy,” explains Indiegogo.
As the pioneers of crowdfunding, we launched our core perks-based platform in 2008 to help great ideas come to life — Today, we’re taking the next big step. We’re incredibly excited to announce that you can now invest in the first Initial coin offering (ICO) pre-sale offered by Indiegogo and Microventures.
Indiegogo Wants to Make Token Sales Accessible to Everyone
The company has outlined three methods of execution for the new ICO platform which includes accessibility for all Indiegogo users, regulatory compliance, and a well-curated selection process. With the accessibility goals, the company has noticed that a vast majority of ICO teams cannot sell their tokens to American investors and Indiegogo wants to change this metric.
“ICOs are a profoundly important and exciting new means of Crowdfunding,” Slava Rubin, Indiegogo Founder, and Chief Business Officer details.
But what has been missing to date is a platform that can make ICOs accessible to a global audience, while maintaining the strictest standards for legal compliance and quality control — This is a big step towards achieving our mission of democratizing finance around the world.
Simply Another Way of Crowdfunding
As far as compliance is concerned, the company’s partnership with Microventures ensures the projects will be compliant with Securities and Exchange Commission (SEC) rules. Microventures will also help with the curation and selection process of token sales held on the website. Indiegogo says they believe they have enough experience and over 10m visitors a month to bolster the ICO movement even more.
“In some ways, cryptocurrency and blockchain technologies are poised to change everything — But for us, this is simply another way of doing what we’ve been working on for the past decade,” Indiegogo concludes.
What do you think about crowdfunding company Indiegogo getting into cryptocurrencies and ICOs? Let us know in the comments below.
Images via Shutterstock, and Indiegogo.
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