The Monster is Going to Use the ICO to Attract $ 300 Million
The largest manufacturer of headphones and gadgets, Monster Products Inc. is going to hold an ICO in order to receive $ 300 million. This is stated from the company's statement to the US Securities and Exchange Commission (SEC).
The team, formed on the basis of the Monster Products division, has set a task to develop an e-commerce site for the sale of Monster Money Network products, as well as create and distribute the Monstermoney token for a more comfortable purchase of goods on the blockchain-platform.
Developers plan to issue 500 million tokens of the ERC-20 type. 300 million of them are planned to be distributed in the ICO process.
You can buy tokens within a year, provided that the manufacturer does not implement all the tokens, reaching SoftCap ahead of schedule.
To insure the company will bring to the market 75 million traditional shares, which in case of a bad outcome of the initial distribution of coins can be exchanged at a rate of 1 share / 4 coins.
It should be noted that tokens do not allow holders to vote for decisions in the project, but they give the opportunity to do shopping in an online store with comfort. The store is developed by the company's specialists.
In the first month of 2018, the rental platform Rentberry, developed by a team from Ukraine, has collected $ 20 million for less than a month as a result of the initial allocation of coins, thus, entering the top ICO leaders this year on analytics Inc.