From The Verge: Indiegogo is promoting a new real estate scheme, where people can buy shares of the St. Regis Aspen hotel, in the form of digital tokens. The hotel is looking for $12 million of investment in security tokens. Accredited investors can buy Aspen Coins through an SEC-registered broker-dealer using US dollars, Bitcoin or ether, beginning tomorrow evening.
It’s part of a broader trend of companies launching asset-backed cryptocurrencies instead of normal tokens. Many cryptocurrency enthusiasts see these asset-backed coins as a more stable and legitimate alternative to ICOs.
This is Indiegogo’s second venture into cryptocurrency, even though it will technically not be dealing with tokens outright. The money will go from investors to the Aspen hotel, with Indiegogo promoting the deal with a landing page.
In December last year, Indiegogo promoted another company’s ICO that “went well,” said company co-founder Slava Rubin, noting that the offering met its fundraising goals. With so many cryptocurrency companies and ambitious blockchain projects turning out to be fraudulent or producing little to show for their funding, the market has plenty of landmines. Rubin says Indiegogo has a “diligence team” that vets companies that want to launch offerings and that only a small percentage are deemed worthy, but he wouldn’t go into further detail.
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