Miss Out on Bitcoin? MAD Network Public Token Launch Set for Dec. 14Staff Writer
If you’re one of those who may be kicking yourself for not getting in on the ground floor of Bitcoin or just before it started to gather steam, there may another opportunity of interest to you. The MAD Network’s public token launch will begin on December 14th at 10 AM Eastern Time, after a November 30th pre-sale for “strategic industry and investment partners,” the company announced recently.
The price per MADtoken will begin at $0.25. The MAD Network’s fundraising goal is to raise $25 million, with an implied market capitalization of $55 million. Initially, the money raised through the token sale is to be injected into MADnet Books, the MAD Network’s decentralized payment rail.
The company plans to distribute the total of 220,000,000 MADtokens as follows: Community Token Sale (42 percent), MAD Technologies Foundation (20 percent), MAD Network Founding Team (10 percent), MadHive Equity (10 percent), Seed Round (8 percent), Ecosystem Partners (4 percent), ICO Expenses (3 percent), Supervisor Nodes (2 percent), and Advisors (1 percent).
“We will be using the open-source software platform CoinCart to manage investors and issue tokens; it will act as the enterprise-grade software to manage the entirety of the sale,” the company said. The platform will enable it to collect necessary documentation from investors prior to registration so that it can maintain strict compliance with AML/KYC standards. Prior to purchasing the MADtoken, investor applicants will be asked to read and accept the terms of the token sale. The platform will manage wallet information for all investors, accepting investments in multiple cryptocurrencies.
MADnetwork characterizes itself as a distributed ad technology ecosystem designed to minimize the role of intermediaries and return lost value to advertisers and publishers. The company believes that blockchain technology can revolutionize the advertising business and wants a slice of that pie.