Logistics company A2B Direct has announced the start of Ethereum-backed ICO scheduled for July 12th, 2017. The campaign that will last for one month intends to raise €500,000 to €3,000,000.
A2B Direct is often called a “freight Uber” as it offers direct interaction between freight forwarders and cargo owners, does all the paperwork, eliminates forwarding expenses and ensures 24/7 communication with the driver.
A2B Direct ICO is unique in some way as the company doesn’t aim to direct the funds for the development of the platform. As far as the platform is already operational, the ICO targets to finance transferring the platform onto blockchain. This solution is expected to reduce expenses for international transportation, make business easier for both carriers and customers who will be able to work with fiat and cryptocurrencies at the same time.
The logistics company currently operates in Eastern Europe while the raised funds will allow expanding to Western European and American markets.
Investors will get share of the company’s profits similar to traditional shares.
A2B Direct has developed several strategies depending on the amount of funds it will manage to raise:
- €500,000 will allow A2B Direct hiring Ethereum and blockchain developers;
- €1,000,000 will be directed to the launch of European office and adaptation of the services to European standards;
- If the campaign raises €2,000,000, A2B Direct will open several offices in Europe and adapt the services to the specific needs of a particular country;
- €3,000,000 will allow for American office launch.
A2B Direct will totally release 30,000,000 tokens. The company sets a minimum contribution of 10 USD for which one may buy 100 A2B tokens. Investors will be able to contribute in Bitcoin, Eth, and Dash, and will have to register a personal wallet to run all financial operations during the campaign and later receive dividends for the company’s further operation and progress.
If 2 to 19 per cent of the issued tokens are sold during the campaign, the investors will have a right for 6% of annual dividends as calculated from the amount of their tokens. If the company manages to exceed 20 per cent, the investors will be receiving 10% of the profits annually. Additionally, A2B will award bonuses to token holders as of 2018.
Last month, Bancor successfully completed ICO that brought the company nearly $150 million in the first three hours. The crowdsale became the largest one in the blockchain industry.
Just a few weeks after the first record, one more company, Block.One, the developer of the new blockchain platform EOS.IO, raised about $185 million in the first five days of its ICO. Block.one is planning to distribute a total 1 billion tokens and has already sold 20% of the cryptocurrency.