One of bitcoin’s first evangelists will need to wait a little longer before launching a so-called initial coin offering (ICO).
That story, which began last year with the announcement of Mainstreet Investment LP, was supposed to take another step forward today. That’s when the fund, the latest venture from former BitInstant CEO Charlie Shrem and his new company Intellisys Capital, was slated to open to most global investors.
Though this date has now been delayed over larger uncertainties in the crypto markets, the launch may soon mark a milestone, pairing the sometimes controversial blockchain token sale business model with one of the industry’s most high-profile faces.
On a larger scale, the idea behind token sales is to harness the same power that spurred the global development of bitcoin, only this time investors would create digitally unique tokens that represent interests in companies, funds or ventures. The tokens are then used to incentivize users to participate in an investment vehicle or software product.
In the case of Mainstreet, it is touting its token sale as the first to feature a token that would both function as a security and be backed by real assets.
Even before today’s sudden change, though, the limited target market, the notoriety
Read more ... source: CoinDesk
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