We’ve connected with Ron Chernesky, the CEO of InvestFeed a few times and he is a tenacious entrepreneur who works long hours and believes ferociously in his product. While some businesses have a meteoric trajectory from the get go, others take more time (and capital) to build out, and his falls somewhere in the middle of those two.
Fast forward to Summer 2017 where he has decided – based on user feedback – to add digital currencies to the investFeed platform (plus a host other blockchain-specific featurs) and completely walk away from equities. A wow moment for the industry, I would say. We have very good friends at several of the major trading platforms, and we keep waiting for the day when they take the step to add digital currencies to their platforms and make trading these products easier for their existing client base, rather than having to go to other exchanges like Coinbase to trade their bitcoin, etc. Ron is paving the way with Investfeed. The firm is also rolling out an ICO this summer as well.
“investFeed, a community-powered stock trading network, is making the ambitious move to drop U.S. equities from its platform and to replace them with high-performing, highly-liquid digital currencies.
The New York-based firm, which launched in 2014, made the decision to pivot to blockchain-based assets due to a growing demand from its 15,000+ users, as well as the explosive growth of the $100 billion USD cryptocurrency industry. investFeed will be perhaps the world’s first company to create a single platform combining a next-generation social investing network, incentivized information sharing, digital asset trading analytics and insights, and an advertising hub for new blockchain companies seeking public exposure.
CEO of investFeed Ron Chernesky said: “Our strong belief in the future of cryptocurrencies prompted our decision to pivot from equities to decentralized digital assets. We feel that investFeed’s future should fully embrace the greatest technological breakthrough since the Internet. We decided to refocus our offering in order to take advantage of the vast opportunities in crypto, including the exponentially-growing number of people globally interested in trading, finding accurate ticker prices, and seeking out peer ideas. After opting out of a $5 million dollar traditional raise, we think there is a superior way to fund development, a Token Generation Event (TGE).”
In contrast to the majority of new token sales conducted in 2017, investFeed will conduct a token sale capped at the relatively low 28,000 ETH maximum. Participants will be issued the majority of FEED tokens immediately after the TGE. The tokens will be released within 90 days of the raise, and 2.5% will go to the creation of the new investFeed platform, 5% will go to the Core Team, 1.5% will go to a bounty and rewards system, 2% will go to the advisors, and the participants will receive the remainder.
“Our TGE will provide us with the minimum we need to construct the platform, keep it sustainable, and rapidly grow our community. In this process we have discovered the public’s immense interest in what we are doing. Our advantage is that investFeed is already an established social network, with 78% of our user base being experienced stock traders. Coincidentally, a large portion of these stock traders reached out to us directly expressing a desire to include cryptocurrencies and other blockchain-based assets and opportunities on our platform. We are confident that our product will become the most popular marketplace and community hub for cryptocurrency startups, traders, enthusiasts, and news junkies,” said Chernesky…”
Full Story: Finextra