We are excited to announce the terms for our upcoming crowdsale. You can learn here about the dates, amounts and price as well as how we will use the funds to build our decentralized art gallery democratizing access to fine art.
Maecenas is part of the platform of Cofound.it, a proven leader in supporting companies throughout the process. So our crowdsale will be accessible on https://cofound.it/en/projects/maecenas/ . Make sure you bookmark this URL!
The pre-sale is happening on 5th September and you will need a Priority Pass to participate (more info here). The public sale starts on 7th September and it’s a good idea to join our mailing list to make sure you stay up to date.
Maecenas will issue a total of 100,000,000 ART tokens. ART is an ERC20 token issued on the Ethereum network.
We pronounce our token by its letters “A-R-T”. (Thought you’d like to know!)
A total of 30,000,000 ART tokens will be available with the following schedule:
- Starting on 5th September @ 5pm CEST and for 24 hours, 15,000,000 ART will be available to Priority Pass™holders. Individual caps will be announced by Cofound.it a few days before the crowdsale.
- Starting on 6th September @ 5pm CEST and for 24 hours, another 15,000,000 ART will be available to Priority Pass™ holders, without any individual caps.
- Starting on 7th September @ 5pm CEST and for four weeks, any leftover from the pre-sale will be available to everyone to acquire without caps.
To get more information on how to be part of the pre-sale and become a Priority Pass™ member click here.
Please note that contributions will only be accepted in ETH.
The Crowdsale will end on the 5th of October at 5pm CEST.
Maecenas Targets
The crowdsale seeks to collect ETH equivalent of US$ 3 million (soft cap) which will allow Maecenas to launch the platform and operate in our first market. That is highly likely to be Geneva, Switzerland.
There is a further milestone of US$ 10 million which Maecenas will use to accelerate growth and operate in additional markets in top art cities worldwide (e.g. New York, London, Paris, Luxembourg, Shanghai, Hong Kong, Singapore).
There is a further stretch goal of US$ 20 million (hard cap) which Maecenas will use to facilitate (underwrite) platform acquisition of high-grade artworks to be listed on the platform.
In summary:
- Soft cap: US$ 3M (launch platform in one market)
- Milestone: US$ 10M (additional markets)
- Max cap: US$ 20M (art funding)
This target prices each ART token at US$ 0.66. The actual price in ETH will be set a few days before the sale starts.
Token Allocation
- 30% sold in the crowdsale
- 30% kept as reserve liquidity fund to guarantee ART available in auction transactions
- 20% allocated to incentivise partners and client acquisition (all tokens granted to external parties will have a long vesting period)
- 20% retained by Maecenas to incentivise existing and future talent, and to fund any future operations if required. Team tokens will have a 24-month vesting periods.
Use of Proceeds
- 35% Research & Development
- 20% Sales & Marketing
- 20% Legal & Compliance
- 15% Art Collections & Funds Financing
- 10% Operations
Please note that the percentage allocations are a model based on estimates and may vary depending on the actual amount of ETH raised, its dollar-value equivalent at the time of conversion as well as the wider art market’s opportunities.
