Crowdfunding giant advances into tokenized securities representing indirect interest in a prestigious luxury real estate property managed by Elevated Returns
Indiegogo, the global platform for entrepreneurs to bring their ideas to life, announced its expansion into tokenized securities, bringing a real-estate asset to its global audience. Following the launch of its ICO (Initial Coin Offering) platform in December 2017, Indiegogo is now providing access to the asset class of security tokens. Security tokens represent ownership in traditional assets such as real estate, equity, bonds, and VC funds, with the addition of the benefits of blockchain technology, which include greater market liquidity, a wider investor pool, fewer intermediaries, lower fees, and faster transaction/ settlement times.
To commence this progression to security tokens, Indiegogo will present to its extensive global audience, spanning 235 countries and territories, the opportunity to own, via the Aspen Digital coin offering, a tokenized share of common stock in a single asset real estate investment trust which will indirectly own the prestigious St. Regis Aspen Resort. The offering will be available directly through Templum Markets LLC, a SEC registered broker-dealer and member of the Financial Regulatory Authority (FINRA), with a plan to have Aspen Coins tradable through Templum SEC-registered Alternative Trading System (ATS).
Co-founder of Indiegogo, Slava Rubin, said, “We have always strived to foster innovation and provide our users access to some of the most novel and interesting products and ideas from around the world. With the blockchain revolution fully underway, we are excited about the world-changing impact and potential of security tokens. Our goal is to provide an access point to our growing network of millions of customers and the opportunity to own a fragmented interest in the St. Regis Aspen Resort.”
The internationally-renowned St. Regis Aspen is a full-service, 179-room luxury hotel with four onsite food and beverage outlets and 29,000 square feet of indoor and outdoor conference and banquet venues with views of the Rocky Mountains. The St. Regis Aspen Resort was purchased by an entity affiliated with Elevated Returns in 2010 which is set to transfer its interest in the Resort to a single-asset real estate investment trust (REIT) that will conduct the offering. The offering is a first-of-its-kind opportunity that will apportion up to $18 million USD for investment in security tokens. Each coin of Aspen Digital represents indirect ownership in one share of common stock in the REIT Aspen Digital Inc.
Accredited investors, as defined under U.S. securities laws, will be able to purchase Aspen Coins with U.S. dollars as well as with Bitcoin (BTC) and Ether (ETH). The St. Regis Aspen Resort is owned by a holding company managed by Elevated Returns, an asset management company that manages assets across a range of service industries, including hospitality, real estate and a number of consumer brands.
This security token offering will be filed under the SEC’s Reg D, Rule 506 (c), General Solicitation. This offering is open to accredited investors in the U.S. and overseas.