The St. Regis Aspen Resort in Colorado, through Indiegogo, one of the world’s first crowdfunding platforms, founded in 2008 by Danae Ringelmann, Slava Rubin, and Eric Schell, kick-started what could be considered the first sale of real estate tokens.
A legit ICO that aims to raise about $18 million in investment on the St. Regis Aspen Resort through the issuance of Aspen Coin, tradable digital tokens which are backed by real estate properties.
Aspen Coin: what is it all about?
The owners of the new tokens will own a non-voting equity interest in Aspen Digital, a real estate investment fund (REIT) that owns the St Regis resort.
This is not in itself a revolutionary idea, but it is undoubtedly a major turning point for the real estate sector which, thanks to this solution, will be able to exploit new liquidity channels.
Stephane De Baets, founder and president of Elevated Returns, owner of Aspen’s St. Regis and other hotel properties commented:
“We think future lies in everyone starting to keep more wealth in appreciating asset-backed tokens”.
Indiegogo’s partner for the ICO is Templum Markets, a company specialising in financial technology which, through its alternative trading system, focuses on creating market offers that comply with SEC and FINRA regulations.
Indiegogo’s mission is to make access to capital more democratic so as to allow people greater access to investments.