Crypto startups leave no stone unturned in spell-bounding the conventional ecosystem investors. Recently, a token sale for Standard Tokenization Protocol raised $750 Grand. Interestingly, it got sold out within 8 seconds of token-sale starting, a news release asserted on June 11.
The aforementioned project mentions that it offers an open-source, decentralized standard for the issuance and tokenization of any asset.
It is to be noted that the token sale took place on Bittrex. Subsequent to the IEO, Standard Tokenization Protocol founder Mike Chen mentioned that they are thrilled to move ahead with putting into practice a authoritative funding mechanism for other companies that possibly will potentially save billions in funding expenses while remaining completely compliant in any jurisdiction.
As well as being collected as fees and used for gas to help pay compliance validators, Standard Tokenization Protocol mentions its tokens can be staked and fuel an incentivized governance model that make validators proficient and truthful.
A total of seventy five million STPT tokens were sold during the Initial Exchange Offering. As reported by CoinAdvice last month, Standard Tokenization Protocol previously raised $7 million through 2 private funding rounds led by well-known venture capitalists.
Furthermore, in the month of May, opponent company Tokenized instigated a protocol facilitated businesses to form tokens for real-world assets including admission tickets, shares, and memberships on the Bitcoin SV blockchain.