Earlier in 2018, the company had announced plans to introduce an Initial Coin Offering (ICO) based on ERC-20 compliant utility token (PZS) for use in its ecosystem. A dual token model allows the PZS utility token to continue to be available for the users of the platform for token rewards and transactions within the platform while the company offer its investors security tokens. The decision to launch an STO will provide mutual protection, security, and commitment to valued investors and will ensure that POZESS is complying with regulatory demands across the globe.
The team has also announced a pre-STO equity round where a limited number of early investors can participate in a first come first served manner. This pre-STO equity round will give investors the opportunity to own direct equity of the company and several other early mover advantages during the security token sale.
“The decision involved careful considerations of several factors, but ultimately we believe this is the best decision for our investors and the continued progress of the company. We want the POZESS platform to stand the test of time and to ensure investors of our commitment to make the project a grand success” says Kaustuva Mukherjee, founder and CEO of POZESS.
Why POZESS has decided to transition to STO:
After an initial surge of ICOs in 2017, ICOs saw a significant drop in interest in the crypto community due to several reasons. Regulatory concerns and the increased activity of government regulatory agencies like the SEC & ESMA to clamp down on bad actors was one driving factor behind the cooling off of the ICO market. Perhaps the most pertinent reason, however, was the lack of trust among investors who have become increasingly wary of companies which raise money through an ICO only to fail or disappear with no recourse in getting back their investments.
The POZESS team has invested a significant amount of time, money, and resources in developing the platform and acquiring early users. Having a positive reputation and credibility is paramount to the team to demonstrate their commitment to the future of the project and its longevity. Securitization of their tokens protects their valued investors – each investor will be backed by the equity of the company and is entitled to future dividends and revenue sharing. The security token will also protect the company against regulatory scrutiny as it will abide by all applicable regulatory requirements including a stringent KYC/AML process.
Having a dual token strategy allows consumers to have access to all the functionalities of the platform including earning token rewards and purchasing goods and services while the security token is used to raise capital and is treated as an asset.
About POZESS:
POZESS is a groundbreaking marketplace that combines content curation, social sharing, and digital marketing into a mobile and web application dedicated to shopping and selling fashion and lifestyle products. With a UX that delivers a more seamless customer journey than legacy apps like Pinterest and Instagram, POZESS enables users to share photos and videos of luxury fashion and lifestyle goods, while instantly connecting consumers with verified merchants that they invite to sell on the platform. Each user on POZESS acts as a micro influencer and a potential marketing channel for their favorite merchants and boutiques, and helps bring more visibility and awareness to smaller retailers all over the world.
Unlike the digital offerings currently available that lack real substance, the POZESS platform is not built on just an idea or concept, but is based on a functional product with a well thought out business plan and is backed by an experienced team that has spent the past 3 years doing market research, developing an MVP, building a user community and getting user feedback.
POZESS launched its website application in 2018 and continues to have robust plans for the future, including the release of the alpha mobile application (iOS and Android) in the first quarter of 2019. Development is underway and the fully functioning beta version of the platform is expected to be released in the third quarter of 2019. Selection of retail merchants will begin in the coming months and retailers will be invited to join POZESS as early as the second quarter of 2019!
The team is proud to have built a collaborative platform aimed towards growth, security, and mass adoption, and looks forward to cultivating the multiple strategic partnerships that are in the pipeline.
To support the POZESS project and to participate in the POZESS STO, investors can sign up on the Pozess.io website, and join the telegram and bitcointalk channels.
To participate in the pre-STO round please email kaus@pozess.com.
Information provided via press release
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