Well, it seems likes another big player wants to jump into the virtual currency market, but this time, it’s not a bank! It’s a crowdfunding platform called Indiegogo. Indiegogo wants to be the first crowdfunding company to be the global platform for blockchain-based entrepreneurs to raise money with.
Indiegogo seems like it would be a great match for an initial coin offering, as it would help Indiegogo have a competitive edge in the marketplace, gaining an upper hand on its rival, Kickstarter.
Indiegogo has already served, since 2007, in helping entrepreneurs and creators bring their projects to the world through the use of their crowdfunding platform. They are now bringing the initial coin offering option into their platform to their global community.
The key value that the crowdfunding company brings to the table is the fact that they are able to make sure that the potential initial coin offering companies will comply with the securities regulations that are put forth by the U.S government.
A heading on the Indiegogo site reads “Investing in ICO’s on a trusted global platform. From the company that pioneered crowdfunding, a new service making ICO and blockchain investments accessible to all, accredited and unaccredited investors alike.”
The company has the value of already being a part of the market that brings money to project creators. Having that credibility built up over the course of ten years helps them to bring the world of blockchain to their significant user base. Being a trusted platform is what will help to bolster their authority in the growing initial coin offering space.
Indiegogo stating that they are carefully selecting these offerings means that they are, in a sense, taking on more accountability for these specific projects that will be on their site. They are implying that they will do the heavy lifting of verifying these companies and that if these companies pass through their verification process, they will most likely be a reliable company.
The company states:
“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.”
It will indeed further democratize finance and further legitimize the world of blockchain and bitcoin, furthering the ecosystem.
The Strength of Indiegogo
Indiegogo is able to be a key player in the space by being able to reach a large audience. They are able to bring in more than 10 million visitors to their platform on a monthly basis.
Partnering with MicroVentures on this new offering makes sense because MicroVentures has experience in bringing equity crowdfunding opportunities to the marketplace. They have been doing this since 2009, so they understand the ins and outs of bringing these sort of ventures to the marketplace in a legally compliant manner.
First ICO on Indiegogo & MicroVentures
They have already conducted an initial coin offering for something that seems very interesting, the Fan-Controlled Football League. The venture has already raised 1 million and is on their way to meeting their goal of reaching 5 million.
So what’s the FCFL all about? Well, it will be an actual football league that will start with eight franchises, with a roster of 18 players per franchise, and here’s the kicker, they will all be selected by fans. There’s going to be two divisions for the teams, and four teams per division. The top team in each division will make the playoffs along with two wildcard teams that can be from either division. The season will consist of a 16-game regular season with two playoff games and a championship game. With the league adopting a one-hour game format, teams will have the opportunity to play more frequently than once per week. This, in turn, will shorten the length of the overall season, potentially allowing for two full seasons per year in the future.
Fans are able to have as much control as they desire as long they have a certain amount of tokens.
It’s an intriguing idea. Will you be interested enough to invest?