Blockchain-based platform for Virtual Reality monetization is using SAFT platform for pre-sale of tokens, to comply with US securities regulations
By launching in this way, qualified investors will be able to purchase GZE at a discounted rate during the private pre-sale. GZE tokens will be available at a discount for the duration of the pre-sale, which opens at 07.00 PST 18 October and closes at 11.00 EST on 28 November 2017.
A SAFT is a Simple Agreement for Future Tokens which allows investors to purchase tokens before they actually exist. By using a SAFT platform, the issuer can comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
Selling through a SAFT ensures compliance with any future rulings made by the Securities and Exchange Commission (SEC) regarding tokens sold in presale needing to be treated as securities and adhering to relevant regulations.
Gaze Coin founder and CEO Jonny Peters said: “By making GZE available through SAFTLaunch, we are meeting early demand for tokens while also complying with all the necessary regulations. SAFT platforms help ensure that raising finance is done in the right way for both issuers and investors and SAFTLaunch has already been used successfully by other token issuers. That’s why we feel it’s the right platform to allow eager investors to access GZE at a discounted rate.”
The main sale of tokens to the crowd will start at 11.00 EST on 28 November and last for one week. The target for finance is $12million and there is a hard cap of $35million. Ethereum (ETH) will be accepted in the main sale and holders of other cryptocurrencies will need to exchange them to ETH if they want to participate.
GazeCoin token (GZE) is a unit of exchange based on the ‘gaze control’ measurement that exists in VR/AR worlds. The Gaze Coin platform allows advertisers to receive precise metadata on how audiences interacted with their ads and then incentivise audiences to engage. Gaze Coin is the solution for content creators, advertisers and brands to monetise engagement in these new environments.
The company has outlined a roadmap of innovations that it will pursue depending on the amount of finance raised. These include a Gaze Coin API that can integrate into any VR/AR world, a navigation system that allows users to transport themselves between virtual worlds and a mixed reality game that will act as a test-bed for developers.