Conjure, an “incentivized, decentralized” video sharing project currently registered as a Delaware LLC, has issued details of its token sale, which is planned to begin on March 1st, 2019. Conjure previously announced that it would be delaying its February 2019 token sale, and shift to a Security Token Offering “in response to the current legal landscape” for token sales.
Security Token Offering
Conjure’s securities offering will offer 70,000,000 Conjure (CJR) tokens for sale out of a 100,000,000 CJR total supply. The first pre-sale phase begins on March 1st, 2019, at US$0.05 per token. The first main sale phase begins on June 1st, 2019 at US$0.10 per token.
The sale is open to “U.S. and non-U.S. accredited investors.”
Multimedia Content Platform
Conjure’s product plans to challenge the monopoly of technology giant Google and its video sharing platform, YouTube, in an attempt to “return control to the independent content creators” that caused its initial popularity. According to Conjure, a shift away from monetization of independent voices on YouTube, combined with an embrace of “whitelisted” corporate programming, looks “more like a purge than a mistake.”
Conjure seeks to “decentralize the content monetization process” by using cryptocurrency to facilitate direct agreements between content creators and advertisers.
Additionally, Conjure plans to categorize its content in a Linnean classification system that groups like-minded content together for the convenience of both Conjure’s users and prospective advertisers.
Development Path
Conjure founder Max Helsel stated on Reddit that “AllCode is assisting with token sale management, generation, and distribution.” After the sale, AllCode will focus on integration of Conjure’s blockchain components into its website and platform. He elaborated, “We plan to build out an all-around team that’s capable and up to the task” of building out a YouTube competitor, and notes a “sizeable allocation” of it token sale proceeds would go towards development resources.
The Conjure Alpha, which is planned on the development roadmap for July 31st, 2019, aims to integrate video, text, and message board content.
Conjure’s full announcement of its securities offering may be viewed at the following link: https://medium.com/@conjurenetwork/conjure-updated-token-sale-details-77378e4672b1
About The Author: Colin Closser
Colin Closser, M.D., was a speaker at the first NEO DevCon in San Francisco. A devoted contrarian, he has managed the improbable: a peaceful and healthy life, despite holding a medical degree. He aspires towards the wisdom of Michael Lewis and Nassim Nicholas Taleb.
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