A pioneering token exchange campaign has been launched to raise funds for a new blockchain start-up.
London-based Blockpool offers B2B blockchain solutions across multiple verticals including music, sport, gaming and finance.
The founders of blockchain music platform Aurovine will raise funds for the business via the TEC, which will run until June 30th and make 25 million coins available in its initial offering.
TEC participants can donate cryptocurrency or currency via a price discovery system which will ensure a fair and equal percentage split.
If the total raised sum is 5,000 bitcoins then the price per token will be calculated by dividing 5,000 by 25m, in this case making the price per token 0.0002 BTC.
Blockpool founder Ken Foster explained: “Blockpool’s blockchain tokens will enable a brand new way of thinking and adoption around the blockchain, one where businesses can adopt blockchain technology at their own pace without the all or nothing solutions that have been presented so far by other groups.
“We’ve chosen this less conventional means of fundraising because it enables an equal share of the proceeds of our work as we scale the business.”
The company hopes to leverage blockchain technology in order to strengthen security, and improve efficiencies for businesses.
Foster added: “We seek to serve a diverse range of blockchain solutions to companies ranging from blue chip corporates through to lifestyle brands.”
The company has already delivered a blockchain-based means to incentivise music followers and drive revenue for artists through the Aurovine platform.
More recently the team has worked to create blockchain-based ad-targeting with cycling advertising platform Bikebuzz.
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