Wednesday, December 20, 2017

Overstock.com Gets $100M In Commitments For New Blockchain Effort

Salt Lake City-based Overstock.com says it has received $100M in commitments from investors for its Blockchain security token, tZERO, with nearly 10,000 subscribers who have signed up for accreditation for its security sale. Overstock's token will include a dividend paid on the adjusted gross revenue of is tZERO subsidiary, which is focused on development and commercialization of financial technology based on blockchain technology. A number of companies this year have taken to using token sales on Blockchain tokens (also known as "Initial Coin Offerings", or ICOs) to finance startup funds for their efforts.