BlaCat, a development platform for blockchain games centered around the NEO blockchain, has announced its intention to raise US$10 million through a Digital Securities Offering. The offering, which will be available to accredited investors in the United States, intends to be fully compliant with securities regulations.
In preparation for the equity offer, BlaCat’s developer, FunJumping, Inc., has prepared offering documents including a whitepaper, pitch deck, and offering memorandum, which outline its case for the sale. The BlaCat equity sale will be a Regulation D and Regulation S offering.
In its two-page offerings summary, BlaCat describes itself as “a scalable and comprehensive blockchain video game environment for every style of game.” It claims to offer game developers “an open-source software development kit based on NEO blockchain technology” while also providing “speedy payments and gameplay, easy monetization of games and digital assets, crowdfunding opportunities and in-game advertising.”
BlaCat also states that it “avoids third party publishers, letting developers keep the majority of their profits.”
BlaCat founder and CEO, Sean Chen, has taken the lead in the project’s promotion. Chen is said to have played a role in the development of internet games and game engines, and claims responsibility for past game products with total revenues approaching US$100,000,000.
Alternative Trading Systems
Future trading of all digital securities is planned for regulated Alternative Trading Systems (“ATS”). Today’s leading cryptocurrency exchanges are not expected to offer digital securities markets because they lack the necessary licensing to do so.
Digital securities exchanges are a very young and rapidly developing field.
One of the best-known and highly publicized ATS that currently exists is the TZero exchange. As an Overstock.com subsidiary, whose platform is registered with and regulated by the U.S. Securities and Exchange Commission, TZero recently listed its second digital security in June 2019.
More information on BlaCat’s digital securities offering can be found at the following link: https://investor.blacat.game/