The blockchain firm plans to raise $28 million through the offering. The token offering began yesterday at 11:00 am Eastern Daylight Time. The offering is lucrative to any purchaser who would like to take part in the Blockstack next-generation computing network, subject to a small number of geographical restrictions.
In a blog post, Blockstack explained that irrespective of the fact that it has over 165 decentralized apps (dApps) on its network, only accredited investors were able to partake in the 2017 token offering. But, after the SEC-qualified offering, the general public will be able to participate fully with the network.
“Now, thanks to this SEC-qualified offering, the general public can participate and fully interact with our network. Anyone can now join the movement to transition the world to a user-controlled internet.”
This simply means that anyone including enthusiasts, established players, accredited and non-accredited investors can participate in the token offering across the globe.
Among efforts to bring about talent and adoption, Blockstack has also designed a Mining Program. Network participants that contribute time and monetary value for the growth of the space would be paid. The press release states:
“As part of the offering, an additional $12 million in tokens will be allocated to Blockstack’s App Mining Program, which rewards the developers who create the top-ranked applications within the Blockstack ecosystem.”
Based on reports, the company has spent approximately $2 million in about 10 months to acquire the Regulation A+ qualification. Expressing his opinion on this, Co-founder of Blockstack, Muneeb Ali said: “My joke has been that the $2 million is our donation to the crypto industry.”
There are also several ways to invest in the space. Meltem Demirors, crypto-Analyst with Coinshares, praised the team and also hinted that different methods of investing in the area.