investFeed, a New York social investing platform which is replacing equities with blockchain-based assets, has commenced its Token Generation Event. Starting on July the 23rd, investFeed plans for the TGE to take place over 15 days, with a significant amount already committed from strategic investors. The company, founded in 2014 by a pair of experienced Wall Street traders, is aiming to be first to market to deliver an incentivized marketplace enabling the sharing of cryptocurrency investing ideas, peer to peer insights, market analytics, crowd sentiment, breaking news, and integrated asset portfolio/order management. investFeed will be imposing a 28,000 Ether hard cap, where participants will be issued FEED ($IFT) Tokens immediately.
CEO of investFeed, Ron Chernesky said: “The Token Generation Event 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. 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.”
The new platform will allow the cryptocurrency community to engage with like-minded investors and enthusiasts seeking market insights, as well as providing start-ups and ICO prospects a channel from which to gain exposure and drive interest in their projects. Once the platform is live, FEED token holders will be able to use their tokens to access premium content, like highly-rated or high-performing investor insights, switch on advanced trader tools, and ‘Boost’ or promote their own content.
Chernesky added: “We are proud of the way we are executing the TGE because we are raising the minimum amount required to build our platform and grow a strong, incentivized community. Our tech is fully developed, and the combination of our own pre-built APIs and elements of social networks will consolidate the currently segregated, disparate communities of cryptocurrency followers into one single, easy-to-use marketplace. Not only does BNC offer the ultimate source of historic and live market data, but this partnership will shave months of development time from our roadmap and allow us to faster deploy the new investFeed platform.”
Serving on investFeed’s board of advisors are Head of Asset Management & Tech at Fortress Investments Gary Dmitriev; cryptocurrency consultant George Samman; and Founder of Triple Integral Financial Services Tarryn Valle. The FEED Token architecture has passed a comprehensive viability audit and was developed on the Ethereum ERC20 standard.
investFeed recently announced its move to drop U.S. equities from its platform and to replace them with high-performing, highly-liquid digital currencies. The firm made the decision to pivot to blockchain-based assets due to a growing demand from its 15,000+ users.