Algebraix Data, the developer of a platform that will enable people to earn from their personal data, has launched its token pre-sale, or Simple Agreement for Future Tokens (SAFT) offering 5 billion ALX Tokens to accredited investors.
The company developed the SAFT with attorney Marco Santori of Cooley LLP, and will offer its tokens on the SAFTlaunch.com platform. SAFTlaunch.com is a new platform for cryptocurrency launches, developed within US regulatory guidelines.
Suley Duyar, Director at SAFTlaunch.com said:
“This brand-new platform is a place for companies in cryptocurrency to conduct SAFTs. We are happy to facilitate this marquis deal with Algebraix Data.”
The launch of ALX tokens, which uses the Latin phrase ‘Ego Meum Indicium Habere,’ or ‘I own my data’—is part of a process that will enable Algebraix Data to build a distributed, permission-based advertising network where individuals can earn tokens for sharing data and agreeing to view ads.
Charles Silver, Chairman and Chief Executive of Algebraix Data said:
“This is the first step in bringing cryptocurrency to everyday Americans. We will allow people to take ownership of and monetize their most important asset—their personal data.”
Today, Internet giants collect and monetize information about individuals’ shopping habits, interests, political leanings, health concerns, investment decisions, social interactions and other data. To date, there has been no mechanism for individuals to own and benefit from their own personal data.
The cryptocurrency-enabled, permission-based ad network in development by Algebraix Data will be the beginning of the era where consumers understand the value of this data, and benefit financially from sharing it.
Algebraix has releases its white paper which describes in detail the economics of the Algebraix Token (ALX) and various aspects of the Algebraix Platform and Algebraix Network.