Categories: ICO

Indiegogo Platform Hosts First Equity ICO Securing $18M for Elevated Returns

Click here to view original web page at

As it was announced by asset management firm Elevated Returns, the owner of St. Regis Aspen, accredited investors had bought all Aspen Coins offered for purchase though Indiegogo platform. It was Indiegogo’s first security token ICO that brought the company $18 million.

As a result, investors have received a small ownership stake in the St. Regis Aspen Resort. CoinSpeaker has already reported that it is an internationally-recognized resort that represents itself a luxury hotel with food and beverage outlets as well as impressive indoor and outdoor conference and banquet venues where guests can enjoy fantastic views on the Rocky Mountains.

The price of one token amounted to $1. Those who wanted to participate in this tokenized real estate offering called Aspen Digital had to meet some serious requirements: they needed to be accredited investors and the minimum allowed amount of tokens for each investor was at least 10,000 tokens.

Aspen Digital is one of the first offerings of its kind. Security tokens that were sold represent themselves real investment contracts while more traditional utility tokens have a function of coupons for a product or service. So, Aspen Coin is a share in a single-asset real estate investment trust of $18 million in St. Regis Aspen equity.

Jason Kirschenbaum, director at Elevated Returns, commented their innovative approach to investments in the sphere of real estate the following way:

“The Aspen Digital closing not only represents a new coin on the market that is asset-backed, it also establishes a blueprint for future real estate tokenization. The future of real estate investing is one that provides global exposure, transparency, public access and liquidity, all of which are elements that can be delivered through blockchain technology.”

The tokens, that were created on the base of the ERC-20 token standard, were available for purchase on Indiegogo through a partnership with Templum Markets LLC, a FINRA and SEC-registered operator. Though from the technical point of view, it could be possible to hold Aspen Coins in any Ethereum wallet, the initial offering and secondary trading of digital assets as securities was organized through Templum’s alternative trading system (ATS). It was needed to meet federal securities regulations.

Stephane De Baets, president of Elevated Returns, stated:

“While there is an undeniable trend of assets migrating to the blockchain and a need for cryptocurrencies to be backed by collateral of some sort, these are truly the early days for the industry, which is why it is critical for offering sponsors like Elevated Returns to assemble the necessary components to be successful.”

Having an aim to create an effective ecosystem, Elevated Returns acquired a South Asian broker-dealer known as Seamico Securities. According to the statement, the company was founded in 1974 and has wide distribution capability, it offers securities brokerage, securities and derivatives trading, investment advisory service, securities borrowing and lending as well as a number of other services. This deal will help Elevated Returns get closer to Asian-based institutional investments and enjoy a possibility to grow its activities in new markets.

You May Also Like

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Bitcoins and Cryptocurrency: Myths and realities

Part 2: The Journey This is a story of secret beginnings. A story of a brilliant idea, born of trying… Read More

5 hours ago

Twitter is Losing its S%# Over This $4 Million Golden Toilet

An solid gold toilet from Churchill's birthplace goes missing. | Source: AP Photo, File Golden toilets don’t come around very… Read More

5 hours ago

eToro Aims to Put Derivatives on the Blockchain With Lira Programming Language

eToro , an Israel-based exchange platform, revealed a new programming language designed to simplify derivatives trading.Speaking ahead of the Ethereal… Read More

5 hours ago

Gartner sees blockchain as ‘transformational’ across industries, in 5-10 years

Credit: Dreamstime Research firm Gartner, whose past evaluations of blockchain have been conservative to say the least , expects the… Read More

11 hours ago

The Future Lies in Blockchain: Circle CEO Jeremy Allaire Backs China’s Cryptocurrency and Facebook’s Libra

The year is 2017. Cryptocurrencies and their underlying blockchain technology are sternly poised to take over the world. Investors, all… Read More

11 hours ago

Ethereum-based Staked Not Efficient, Claims DeFi Builder

Much like banks, there is competition with the Ethereum decentralized finance (DeFi) ecosystem; each protocol and ecosystem offers different benefits… Read More

11 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More