tZERO, the blockchain technology subsidiary of Overstock.com led by founder Patrick Byrne has announced that the tZERO token sale, utilizing a Simple Agreement for Future Tokens (or SAFT), will begin on December 18, 2017. The tZERO token generation event was announced last month after news that the company would be leading a joint venture along with RenGen LLC and the Argon Group to launch an Alternative Trading System (ATS) that will be molded in strict compliance with SEC and FINRA regulations for security tokens issued in Initial Coin Offerings (ICO).
Regarding the tZERO ICO, today they confirmed that its tokens will provide investors the following unique characteristics:
- Revenue participation in the form of a distribution, which will be a percentage of tZERO’s revenue; and
- Utility to pay for fees and/or services within the tZERO eco-system.
Joseph Cammarata, President of tZERO said:
“The interest in the proposed tZERO token sale has been overwhelming, and we have been working with our advisors to create the most unique and innovative token.”
Ralph A. Daiuto, Jr., Chief Operating Officer of tZERO:
“tZERO enabled Overstock.com (NASDAQ: OSTK) to make history with the first ever public issuance of a digital security. tZERO has been at the forefront of blockchain technology and is going to be a leader in the trading of digital tokens.”
The definitive terms and characteristics of the tZERO tokens will be announced in a forthcoming Offering Memorandum. For payment instructions and information on how to participate in the tZERO token sale, prospective investors should visit saftlaunch.com and follow the prospective investor verification instructions.
tZERO wanted to note that investments are valid if made only through www.saftlaunch.com and no other channel. tZERO will NEVER distribute any contribution or payment instructions, including cryptocurrency wallet addresses, via email, chat, or any website other than through www.saftlaunch.com, and such payment instructions will only be available on or after December 18, 2017.