ICO or Regulation Crowdfunding?

Weekly Update #1.0

I know we’ve been quite for the last few weeks but we’ve been very busy behind the scenes. Moving forward we will begin to provide a weekly update on our EtherSportz project progress across the board. Lets jump right into the most recent update this week!

ICO or Regulation Crowdfunding?

We haven’t begun to publicly raise funds for EtherSportz yet. We originally intended to have a traditional ICO (Intial Coin Offering) using smart contracts to fund the continued development of our project but with the regulatory uncertainty we pushed pause. Over the summer the Securities and Exchange Commission issued an investigative report concluding digital tokens were in most cases a security. After much research and legal counsel we concluded that are best path forward would be to leverage regulation crowdfunding.

We aren’t the first ICO that decided to have a regulated capital raise. A company you might have heard of FileCoin raised well over $180 million dollars from rich accredited investors during there initial coin offering while excluding non-accredited investors using Regulation D, 506(c). Below is a comparison of the primary options we had to work with to raise funds.

Regulation Crowdfunding is a new law that rolled out on May 16th, 2016. For the first time in 80 years, it’s legal for the public — not just the rich — to make investments in private companies. Businesses can raise capital from their friends and local communities instead of just banks or venture capitalists.

We’re choosing to have a regulation crowdfund where everyone can invest as little as $100. This also allows us to advertise our crowdfund to our subscriber list, in the press, and on social media. For us this most closely resembles our original plan of a traditional ICO.

WeFunder — Regulation Crowdfunding Platform

WeFunder Profile

We’ve selected WeFunder to work with to have our regulation crowdfund. Currently we have a profile setup with a basic overview of the project and hope to announce our crowdfunding date sometime this month.

Creating an account on WeFunder only takes a few minutes — you can authenticate using Facebook or your email address.

WeFunder Sign Up Process

Please visit our profile on WeFunder, create an account and click the “follow” button to stay up to date on our EtherSportz project.

Remember to Follow!

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