Back to the list

Monster ICO: recent SEC filings show intention to attract $300M

Monster Products, known for its high-profile headphones, is going to open its own initial coin offering (ICO). The future tokens will cost $1 each, the issue of 300 million units is planned. This all has become possible to know thanks to the website of the United States Securities and Exchange Commission which posts corporate filings online.

These new digital assets will be called Monster Money Tokens (MMNY), there will be an opportunity to exchange them to the stocks of the same company in case the enterprise goes awry. The blockchain of the new means of payment for company’s products will be based on Ethereum.

If this ICO proves beneficial, one can expect the launch of similar initiatives from the rival companies - for example, Beats Electronics (founded by Dr. Dre).

The industry of consumer electronics is not in haste to enter the ICO market, although the presence of related companies could refresh the economic environment and set new standards.

21-05-2018 21:00:00  |   Regulation

The decision of Monster Products to disclose info regarding its ICO to the SEC is explained by the fact that this is an American company, although, as witnessed from an example once described by the officials of the North American Securities Administrators Association (NASAA), every ICO enterprise should know the basics of U.S. laws. In the United States, tokens are considered securities.

Back to the list