BnkToTheFuture plans to launch a public token sale in February 2018 to build a platform for trading equity tokens. According to Bloomberg, the company is targeting $33 million through the initial coin
BnkToTheFuture plans to launch a public token sale in February 2018 to build a platform for trading equity tokens. According to Bloomberg, the company is targeting $33 million through the initial coin offering.
The platform's new BF Token, or BFT, will enable deal flow analysis, due diligence, and investor communications. It grants access to tiered membership for early access to investments. Members who contribute to the platform's research effort, sourcing deals or updating investors on portfolio progress, receive BFT as payment.
"Investors want a trustworthy trading platform that gives first-mover access to new investments while complying with regulatory requirements," CEO Simon Dixon said. "We have engineered the BnkToTheFuture platform to provide this, along with the added benefits of employing the latest technology and incentives for participants to make updates about investments, so investors can track both the performance of their portfolios as well as other equity-backed tokens they consider to be prospective investments."
The company pulled together executives from Civic, Smith + Crown, Abra, BitAngels, Rootstock (RSK), Unocoin, Huobi, and other blockchain firms for its advisory board.
Dixon explained that the board brought together "leaders in the blockchain industry and those who have been consistently involved advocating for Bitcoin from very early on to help guide our efforts to further develop a transparent platform compliant with regulatory requirements. We're confident that our advisory team of experts will be instrumental in this process."
BnkToTheFuture operates as an investment platform for fintech, blockchain, and cryptocurrency startups. The platform counts 45,000 accredited investors and has channeled over $240 million into funding rounds. Portfolio companies include Kraken, Bitstamp, ShapeShift, and Bitfinex.
Startups apply through an online form, submit required documents, schedule a call with the team, and pass due diligence review. Dixon told Block Tribune that the platform sees a 95 percent rejection rate, accepting 5 percent of applicants that meet its standards.
