Asset-backed Tokens to be Offered by Crowdfunding Firm Indiegogo

real estate indiegogo

In their website post, multinational crowdfunding venture Indiegogo will be launching a new token that is backed by real estate.

The asset-backed crypto will allow its investors to procure shares in the form of virtual tokens on St. Regis Aspen Hotel.  The Verge reported that Aspen Coin, which is the digital token  for Indiegogo can be bought with fiat U.S. dollars or with other cryptocurrencies like Bitcoin or Ethereum. The Aspen Coin is accredited with the U.S. SEC.

Indiegogo’s project aims to generate US $12 million to be invested with St. Regis Aspen  Hotel. The launch is scheduled August 24. The San Francisco-based announced the first Initial Coin Offering’s launch last December 2017 on pre-sale through MicroVentures, an equity crowdfunding website.

On their announcement, Indiegogo said they partnered with the Financial Industry Regulatory Authority (FINRA) registered MicroVentures to ensure compliance with the SEC.

Slava Rubin, co-founder of Indiegogo said that cryptos and asset-backed tokens are “two very different things”, according to the report of The Verge.  The latter type of tokens are “less speculative and they’re likely to pan out in the future.”, Rubin explained.

Indiegogo, a crowdfunding website founded in 2008, is said to be the one of the first platforms which offered crowdfunding.


Marko Tee

Marko Tee

Contributor and news writer for Cryptolitan.com. Marko has 4+ years of experience as a journalist and covered cryptocurrency and blockchain technology. He has years of experience writing about tech news and innovation.

Related News

Hot Stories

Litecoin price analysis: LTC breaks at $3.8 as bullish succession continues
Aave price analysis: AAVE/USD gains bullish momentum at $104.97
Uniswap price analysis: UNI/USD breaks above $9.01 as bullish trend intensifies
Announcing Hashstack’s switch to Starknet
Solana price analysis: SOL price spikes to $42.4 as bullish momentum intensifies

Follow Us

Industry News

Elon Musk drags Twitter to court for fraud
Binance CEO Urges To Move Funds From WazirX To Binance
Bitcoin falls to $23K on U.S. jobs report
How are the top cryptocurrencies selected?
Voyager Digital set to refund users with a $270 million fund