BlaCat is a blockchain-based gaming platform centered around the NEO blockchain. Recently, BlaCat announced plans to launch a fully compliant Security Token Offering (STO) to raise $10 million.
BlaCat’s Security Token Offering Explained
BlaCat claims to be a “scalable and comprehensive blockchain
video game environment for every style of game”.
The platform provides developers with open source software,
based on NEO blockchain technology, and facilitates payment processing, the monetization
of game development, and in-game advertising. It also avoids third-party
publishers, which it says allows developers to keep the majority of their
Now, BlaCat is turning to the regulatory compliant Security Token
Offering (STO) in hopes of raising $10 million. The sale intends to be “fully
compliant” with securities laws and regulations.
The equity offering will be available to accredited investors in the US through the SEC’s Reg D exemption, and to non-US investors through the Reg S exemption.
BlaCat is being developed by FunJumping Inc., which received
$2 million in seed funding from NEO.
Ultimately, BlaCat aims to disrupt the gaming industry, which in
2018, had approximately 2.5 billion gamers,
4.4 million developers and was projected to generate revenues of over $120
The company is
tokens to fulfill its vision. STOs differ
from ICOs through many ways, despite having some similarities. Both leverage
of blockchain technology in recording asset ownership and transfer. Yet STOs
abide by their jurisdiction-appropriate existing securities laws, thereby
providing the regulatory compliance that ICOs lack.
As a result, the
number of STOs is rising— they saw a 130%
increase in Q1 of 2019. At the same time, ICOs raise 58
times less than they did just a little more than one year ago.
In addition to
equity, security tokens have been implemented in regulated real-world assets to
estate, and even fine
What do you think
of BlaCat turning to security tokens to raise $10 million? Let us know what you
think in the comments section below.
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