Breakthrough! Steem Monsters raises $100,000 in 27hrs through a Steem Engine Security Token Offering!

in #steemmonsterslast year

Well, there's a lot to break down in this, but it's really great news for Steem Monsters, Steem Engine, and the whole Steem Ecosystem!

What's a Security Token Offerring?

In the last round of token sales that mostly happened on ethereum there were lots of companies that put out tokens and sold them. They were securities, but the owners didn't bother to register them that way. They promised equity holders profits and ended up selling illegal securities.

That's bad!

So, what Steem Monsters did was incorporate our business in the States. Matt and I are primary owners of a C-Corp. We worked with a law firm (the same one we're going to facilitate other STOs to use) to setup our ability to issue a token registered as a restricted security under SEC Reg D.

Steem Engine

So, not only did we make Steem-Engine as a way that we could sell packs on a decentralized exchange, not only are we going to use it for our in-game currency, but we've been planning to use it for our Security Token since we first discussed it.

We created a token on Steem Engine called SMTT. This stands for Steem Monsters Team Token. We capped it at 20M. We reserved some for the capital raising activities and split some between Matt, me, and reserved more for team members.

$100k in 27hrs

So, Matt had a lead investor friend of his that wanted to contribute to the fund raising round. We want to raise larger amounts of money, but it's always tricky to establish value. So, we targetted a small capital raise of $100,000 as a way to gauge interest and set the price.

We notified our Monster Mavericks (our most active player base and largest card hodlers) through Discord that we're selling equity and 27 hours later less than 10 people committed to funding $100k.

What are we going to use the money for?

an exit scam with hookers and blow

The primary use of funds will go towards executing on our product road map. Specifically, we are targetting getting the mobile app developed, and speeding up development by hiring out more part-time help.

We are likely to do further rounds this year and next to hire a few full time developers and make a bigger marketing push, which will include larger tournament prizes for players.

What's this mean for the community?

Honestly, we think this is a game changer. The vision is to use Steem-engine.com as the next round of the bull run for companies to choose to come here to legally host SEC approved Security Token Offerings.

We can provide the legal services.
We can create and trade the tokens.
We'll have other cryptos as tradable tokens on the exchange this or next week.
We have our first successful capital raise on the Steem blockchain through Steem Monsters on Steem Engine!

Trail Blazing

Matt and I are both vision committed to supporting the Steem ecosystem to the best of our abilities as is the Steem Monsters and Steem-Engine team.

We built the first game and have helped to attract other games and businesses here.

We built keychain to make logging in to all of these applications and completing transactions easy and safe. We're REALLLY looking forward to the day Steemit implements it...

We built Steem-Engine to allow businesses to form here and aggregate capital here.

We completed the first STO of our own business on our hometown exchange.

If you don't think that's fucking awesome check yourself for a pulse!

Good times lie ahead for this community and I can't wait to see how this impacts our players, our traders, new businesses and our ecosystem as a whole.

Help us!

If you think this is good we're looking for help.

Spread the word about Steem Monsters.

If you have a business make a token on Steem-Engine for it (consult an attorney first to stay out of trouble).

If you have some web dev skills please visit the github for Steem-Engine and consider making some utopian vote eligible coding changes to help us expand what it can do.

Buy some Steem Monsters cards to play with or simply to rent.

Spread the word. Put this story on Twitter and other social media outlets. Share your impression of what it means.

Steem has some epic shit happening on it and no one knows and they won't know unless YOU tell them.

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Hi @aggroed,

thx for this post.
I am very interested in the steem engine.
You write that the equity raise is compliant with SEC standards / SEC approved.. is there any blog or comment where I can read about this, how this works legally?

Kind regards,

solarwarrior

Go Trail Blazers @yabapmatt and @aggroed !! Exciting times indeed on this awesome platform! I am also looking forward to when keychain is implemented on Steemit.
And YES it is fucking awesome and going to be EPIC!! Upped and resteemed plus shared on Twitter to help spread the word!! 🙋👍❤💪
ITS GOING TO BE LEGENDARY!!

Steem has some epic shit happening on it and no one knows and they won't know unless YOU tell them.

All the time I am telling everybody about STEEM (and Steem Monsters), but most people (fortunately not all) are so hard to convince to try out something new - it's killing me! :)

This post has been included in the latest edition of The Steem News in 10 posts - a compilation of the key news stories on the Steem blockchain.

Awesome stuff @aggroed.

But can't we mix a little of the below in with all the other plans ....

an exit scam with hookers and blow

Hilarious .... I am happy to see some personality from a creator of a game and not copy and paste / flat line responses and updates.

Steem-Monsters to the moon !

I wish I could code or had some web dev skills so I could help out but sadly I do not.

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

You had me at

What are we going to use the money for?
an exit scam with hookers and blow

Lol me too! I was like how soon can I launch my STO and then jordon belfort for a few days

Very good stuff you're doing for steem blockchain and our community.

The only thing I would suggest is that you should stop using the word decentralize in your posts.

Your business is far from that, which I don't care, but let's call spade a spade for the sake of transparency.

The answer takes nuance. Our business is not decentralized. Our exchange is decentralized. We're a private entity with aspects that are actually decentralized. We do try to keep the part separated and clearly defined, but even if we're using all the right language it can be hard to get across especially across different languages while describing things heavy with crypto Jargon.

That is brilliant news! Wow looking forward to the release of the mobile app thats going to be a game changer, you guys are really setting the pace for the rest of the dapps.

Really excited to be a part of it all in my own small way. Now I have to go and check out steem engine I've been putting it off for some time

You guys create so much value for this blockchain. Steem Engine can be the official release of SMT!

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an exit scam with hookers and blow

lol

wishing the best to happen ... much success to you @aggroed

Nice congrats! :)

Incredibly impressive! 🚀

Is it still called Steem Monsters or Splinterlands now?

Posted using Partiko Android

Thanks for all the work you do for the ecosystem. Awesome the value you provide here. I wish you good luck! :)

I think STEEM ENGINE is awesome, and I'm considering to create my own token ;-)

I'm collecting a few STEEM ENGINE tokens... so if you want, you can send me some ENG, haha, so I can start with the whole process :-)

Here is my post about STEEM ENGINE
https://steemit.com/steemengine/@steemitri/steemitri-the-mannequin-do-you-have-token-on-steem-engine-send-me-some

Big Plastic Hug from Switzerland
Steemitri The Mannequin

When will you take over or manage Steemit.com?
Just joking, great vision and accomplishments!
We are all very happy to have you here and support you guys!
Let the good vibes come to Steem and Steemmonsters!

I didn't understand any of that, but I fucking support it 100%! :)

Jesse Reich Is DA MAN! Is he related to the LATE WILHELM REICH? Mass hypnosis for everyone, ORGONE IS KEY! :P

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Hi, @aggroed!

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Congratulations on the successful funding round. You guys are executing consistently and its awesome :)

Congrats!

(...and thanks.)