RATE Group | Crowdfunding site Indiegogo expands into real estate cryptocurrency with St. Regis Aspen…
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Crowdfunding site Indiegogo expands into real estate cryptocurrency with St. Regis Aspen…

26 Aug Crowdfunding site Indiegogo expands into real estate cryptocurrency with St. Regis Aspen…

Posted at 22:45h in Cryptocurrency News by

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Crowdfunding giant Indiegogo Inc. announced Thursday that today would be the first day accredited investors could buy shares in a ritzy Colorado hotel St. Regis Aspen Resort with tokens sold on the blockchain.

To create these tokens, the resort will create Aspen Coins via the Aspen Digital Inc. token asset offering. For the purposes of investment, the cryptocurrency coins are treated as “security tokens,” which are a replacement for paper certificates of equity in the property as investments in compliance with United States Regulation D Rule 506(c). According to that regulation, only accredited investors may participate in this sale.

“Security token offerings are the investment tool of the future, a mechanism designed to store wealth by utilizing income-producing digital assets,” Stephane de Baets, founder and president of Elevated Returns, said in a statement. Elevated Returns purchased St. Regis Aspen Resort in 2010.

“By opening access to investing in…

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