New York-based social investing platform investFeed’s token generation event commences Sun. July 23 at 9 am UTC. It is scheduled to run 15 days with a hard Ether cap of 28,000. FEED, aka $IFT, tokens will be immediately issued, with owners able to use them to access premium content.
Founded in 2014 by a pair of Wall Street traders, investFeed hopes to provide an incentivized marketplace where people can share cryptocurrency investing tips, analytics, opinion, news, and portfolio management ideas.
“The TGE is completely disrupting the way we think about capital raising, and in so many ways is superior to the VC model we are all used to,” CEO Ron Chernesky said. “Our team walked away from a $5 million USD traditional raise so that we could conduct a TGE and better incentivize a growing cryptocurrency community, while selling enough tokens to build out a revolutionary platform, with a beta launching 90 days of closing.
“The difference between investFeed and the majority of companies conducting TGEs, is that we have imposed a low hard cap, or maximum participation amount, in the interests of responsibility, openness, transparency and honesty.”
Mr. Chernesky the company’s technology is fully developed and believes the combination of pre-built APIs and social network elements will consolidate the cryptocurrency marketplace.
investFeed also announced a partnership with Brave New Coin which will see the sharing of historic and live market data. It will also save months of development time, Mr. Chernesky said.
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