Today, Polymath, the first-ever security token launch pad, announced it will serve as advisors to Overstock.com Inc (NASDAQ: OSTK) tZERO’s historic $250 million USD Initial Coin Offering (ICO).
Polymath has and will provide advice to tZERO on the design, economic model, and distribution of tZERO’s security token, which is being issued in accordance with applicable securities laws. A portion of the proceeds of the ICO will be applied by tZERO toward the anticipated development of a regulated trading platform for securities tokens. tZERO is Overstock.com’s blockchain subsidiary.
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OSTK Is the Clear Leader of the Emerging Market for Blockchain-Related Stocks
• We believe blockchain technology (which includes cryptocurrency) has tremendous potential to disrupt multiple sectors, including consumer, financial services, healthcare, and technology.
• In this report we made a first pass at profiling a number of companies with either significant blockchain-related assets (most notably, Overstock) or, at least, an appreciation for its disruptive potential and a desire to build a business model to exploit it.
• Our research increased our conviction that, today and likely in the near-term, Overstock stands head and shoulders above the others, when it comes to having developed a portfolio of companies with significant efforts to exploit blockchain technology; most notably tZERO and bitt.
Please find below a press release detailing the announcement.
Security Token Specialists Polymath Announced As Advisor To tZERO Security Token Sale
New York, NY – January 11, 2018 – Polymath, the first-ever security token launch pad, has today announced its partnership with Overstock.com, Inc.’s blockchain subsidiary, t0.com, Inc. (“tZERO”), in which Polymath is acting in an advisory role in connection with tZERO’s historic $250 million USD Initial Coin Offering (ICO). Polymath has provided advice to tZERO on the design, economic model, and distribution of tZERO’s security token, which is being issued in accordance with applicable securities laws. A portion of the proceeds of the ICO will be applied by tZERO toward the anticipated development of a regulated trading platform for securities tokens.
CEO of Polymath Trevor Koverko said, “tZERO is on the precipice of disrupting Wall Street as we know it. Our goals are similar—to create a thriving security token industry and allow companies and investors greater access, transparency and efficiency to an emerging token economy. We are excited to work with tZERO to provide ongoing consultation and support to the build out and distribution of the tZERO token, which will be a preferred equity token for tZERO.”
President of tZERO Joe Cammarata said, “We are doing something that has never been done before—creating the first ever preferred equity security token. Projects of such innovation require best-in-class partners, and so we are excited to bring Polymath on as advisors.”