Wakelet has recently announced the commencement of their anticipated security token offering. This fund raising event will see the UK based company offer simple agreements for future tokens, also known as ‘SAFTs’.
By approaching the market in such a manner, Wakelet will be selling their SAFTs to accredited investors at this time.
The overall goal of the STO is to raise money for the continued development of the platform. More specifically, it is for the development of their planned rewards system and search engine.
The Wakelet STO is currently live, and actively accepting investments.
This token sale shouldn’t come as a surprise, as Wakelet has been experiencing rapid growth for a while now. Only months ago the company received high praise from Chris Oglesby, Chairman of Bruntwood SciTech. He has stated that Wakelet is, “one of the most exciting tech businesses.” He continued by noting Wakelets, “clear potential to be a global player in online content curation.”
In addition, we reached out to Wakelet CEO, Jamil Khalil, inquiring on the choice to distribute SAFTs, and plans for the resulting funds.
Jamil Khalil stated,
“We decided to launch a security token offering because we believe STOs provide a secure, and legal way to issue tokens that can have global reach, provide liquidity on distributed registries over time, add transparency for holders of the tokens, and enable us to customize the benefits of the offering.” He continued, “We plan to use the funds to grow the Wakelet business, and develop the Wakelet platform and the Tokens”
Wakelet is a content creation and curation company, which was founded in 2014. Headquarters are maintained in Manchester, Lancashire, with operations being overseen by CEO, Jamil Khalil.
The company has experienced rapid growth since their inception in 2014. The platform appeals to people from many walks of life. By offering users the ability to create and curate personalized portfolios of content, the platform can be used by travelers, social media influencers, and even teachers. For example, by providing a user friendly platform that facilitates the aggregation and curation of content, a teacher can easily create shareable collections – allowing their students efficient access to approved, and appropriate, content.
The company has noted on their site that they have three major steps on their roadmap.
- Curation Platform
- Rewards Engine (incentivized platform use)
- Alpha Testing
- Discover, Moderation & Search Engine (grading the content of collections)
- Awaiting commencement
Based out of New York, AmerX finds themselves to be one of the ‘largest firms on the floor of the NYSE’. Additionally, they tout themselves as one of the first investment banks to delve into blockchain.
The company indicates that they have helped multiple other companies through the STO process in the past. Two examples include ‘tZERO’ and ‘The Crown League’.
In Other News
We have recently detailed various upcoming security token offerings on securities.io. One article of note takes a look at the Leonovus project. This article is of note because Leonovus also intendeds to utilize SAFTs to generate funds. Check out the article below, to read whether they followed through with this plan, or pivoted in another direction.