Republic, an affiliate of startup investing platform AngelList, today announces Republic Crypto, a new platform giving unaccredited investors access to a major token pre-sale in a first-of-a-kind concurrent offering with CoinList. Republic Crypto’s first offering, PROPS, a new ecosystem of decentralized video applications, successfully reached its SEC-regulated $1.07M cap within hours of its opening.
Backed by Union Square Ventures, Notation Capital, and other noted investors, PROPS is a decentralized ecosystem of video applications that benefit from the YouNow community of millions already transacting in a two-sided digital economy. Through its Republic Crypto campaign, PROPS gave unaccredited members of this community early access to its token sale – something no other major compliant ICO conducted in the US has managed to do.
[perfectpullquote align=”full” bordertop=”false” cite=”Republic CEO Kendrick Nguyen, who served as general counsel at AngelList and is an adviser to CoinList” link=”” color=”” class=”” size=””]”Blockchain technology gives rise to one of the most transformative wealth-creation opportunities of our time. We’ve been working on solutions to give people of all income brackets fair access for months. Republic Crypto uses a new financing instrument, the Debt Payable by Assets for its future offerings, which provides added consumer protections and is more suitable for retail participants, compared to the SAFT.”[/perfectpullquote]
Republic also has plans to “tokenize” the DPA in partnership with Dharma Labs, which develops a generic protocol for issuing debt agreements as tradable tokens.
With Republic Crypto, Republic aims to bring its mission of financial inclusion to this nascent industry. They also have plans to announce new products and services in the coming months.
To learn more, visit the Republic Crypto website.