Overstock.com Gets $100M In Commitments For New Blockchain Effort
Salt Lake City-based Overstock.com says it has received $100M in commitments from investors for its Blockchain security token, tZERO, with nearly 10,000 subscribers who have signed up for accreditation for its security sale. Overstock's token will include a dividend paid on the adjusted gross revenue of is tZERO subsidiary, which is focused on development and commercialization of financial technology based on blockchain technology. A number of companies this year have taken to using token sales on Blockchain tokens (also known as "Initial Coin Offerings", or ICOs) to finance startup funds for their efforts.
posted on Wednesday, December 20, 2017
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