Now You Can Buy Token in this Resort (If You’re Large Investor)
Crowdfunding platform Indiegogo is helping a luxury real estate investment trust sell a “security token backed by common shares,” according to information published on the crowdfunding site.
The token issuer, known as Aspen Digital Inc., is proposing to sell a “security token” that represents an indirect equity ownership in the St. Regis Aspen Resort located in the Rocky Mountains region of the US.
The company aims to raise up to USD 18 million until September 14th. Minimum investment is USD 10,000 and available for large investors, only.
After closing the offering, Aspen Digital intends to create a digital token for trading on the Templum Markets platform, using an Ethereum-based smart contract digital token. Token holders are entitled to the business income distributions.
St. Regis Aspen Resort offers 179 rooms, including 25 luxury suites, a 15,000 square foot (1,394 sqm) luxury spa, and 14 meeting spaces (accommodating up to 1,200 people).
Video about the resort:
The fact that the token in question is classified as a “security token” also means that the issuer has enough confidence in the current regulatory environment to issue that type of token. In the past, the overwhelming majority of tokens issued have been classified as “utility tokens,” largely in an effort by the issuer to avoid regulatory scrutiny.
As Cryptonews.com has reported on previously, tokens backed by real assets have recently gained popularity in the initial coin offering (ICO) landscape. Lasse Pettersen of ICO consulting firm Fusion ICO then told Cryptonews.com that the trend is “just getting started,” while adding that:
“Putting real assets on a blockchain and tokenizing them is a great tool for collateral, as well as providing liquidity to illiquid assets. I believe this is a huge advantage for an investment portfolio as it would allow you to more easily diversify into traditionally illiquid assets.”
Indiegogo started a new service to vet coin offerings and then help sell them to small and large investors last December.
Meanwhile, another crowdfunding platform Kickstarter, hosts dozens blockchain and crypto projects, from those looking to write a book on blockchain, over those wanting to build real, physical coins as gifts, to keychains and games.