Crowdfunding platform Indiegogo just finished its first equity ICO. The owner of the St. Regis Aspen Resort raised 18 million dollar in its security token offering (STO). Investors bought Aspen Coins, which are security tokens or investment contracts. Because this was an ICO with security tokens, only accredited buyers were able to invest in the project.
The Aspen Coin is an ERC20 token and can technically be held in any Ethereum wallet. But according to federal regulations these tokens can only be traded on an alternative trading system that’s owned and operated by Templum Markets LLC, a FINRA and SEC registered operator.
With 18 million dollar raised, the St. Regis Aspen Resort project is one of the biggest campaigns to ever hit Indiegogo. The company has seen crowdfunding projects for drones and electronic bikes raise millions. An automated beehive named ‘Flow Hive’ even raised more than 13 million dollars back in 2015.