Ind iegogo starts listing initial coin offerings
0Ind.iegogo starts listing initial coin offerings.
Crowdfunding platform Indiegogo announced today on its website that it will begin listing a select number of initial coin offerings, in yet another step by the company to move beyond perk-based crowdfunding.
While ICOs will be listed on Indiegogo, interested backers will have to go to a portal called First Democracy VC to invest. First Democracy VC is an SEC-registered equity crowdfunding portal that was developed through a partnership between Indiegogo and equity crowdfunding site MicroVentures. Indiegogo first partnered with MicroVentures last year to host equity crowdfunding campaigns that comply with the regulations established through the 2012 JOBS Act. According to an Indiegogo blog post, 30 companies raised $7.53 million during First Democracy VC’s first year of existence.
The first ICO listed on First Democracy VC is a presale for Fan-Controlled Football League, which, as the name suggests, wants to create professional sporting leagues where decisions are made entirely by fans. Formerly called Fanchise, the company previously raised more than $63,000 through an Indiegogo campaign. In 2015, the company purchased a slot in the 10-team Indoor Football League and launched its first team, the Salt Lake City Screaming Eagles. Fanchise allowed Indiegogo backers to make a team decision based upon how much money they donated to the initial campaign — backers who donated $300 were able to design a play, for example, while backers who donated $100 got to choose the end zone dance.
Now, according to FCFL’s white paper, it wants to leverage the Ethereum blockchain to “maintain ledger-based transparency for all fan-driven decisions and reward allocations.”