Afterschool, a two-sided after school activity marketplace based in Dubai, announces its ICO starting on September 26, 2017, by issuing its own digital currency. The four-week crowdsale which is expected to raise a minimum investment of $1 million up to 50,000 ETH, will be the company’s first step towards its goal to decentralize its marketplace on ethereum blockchain and fund expansion plans in the Southeast Asia and the GCC.
Afterschool is an online platform that helps parents to find the best after school activities, nurseries and schools for their children.
The decentralized Afterschool booking platform makes use of an existing operational platform, backed by ethereum blockchain technology to allow parents to use Afterschool Tokens (ASTs) as well as other cryptocurrencies, such as ETH and Bitcoin (BTC) to pay for their children’s after school activities and its activity providers to accept the same.
Aside from using it as a form of payment, another motive of Afterschool is to incentivize both parents and providers through a reward system using Ethereum smart contracts, encouraging participation within the platform.
Joanna Santillan, CEO and Founder of Afterschool is excited by the global possibilities of Afterschool’s decentralized booking platform. “In the future, we aim for the Afterschool token to become the go-to digital currency for all payments and transactions across the education industry as a whole,” she added.
The main advantage of Afterschool is its existing functional, revenue generating platform. Investors are invited to help it bring the underlying technology forward by implementing blockchain. Growing since 2015, Afterschool has more than 500 activity providers, 25,000+ parents registered and has generated millions of dollars’ worth of activity bookings.
Afterschool has set the total cap for AST tokens at 800 M. Base price is set at $0.05 and ICO will begin with a starting bonus of 60% and the price of ETH will be locked to the value of USD on the day of the launch.
Afterschool intends to use the proceeds of the ICO as follows:
- 60% for sales and marketing to drive expansion plans
- 30% for product development and maintenance
- 10% customer service
Funds raised during the ICO will be held in a multi-sig wallet controlled by the team council. Tokens allocated to the founders and team (15%), and investors (10%) will be reverse-vested for 24 months with monthly cliffs. The platform has set aside a portion of tokens (15%) for future partnerships as well.
To participate in the ICO, individuals can create a wallet on MyEtherWallet.com, Parity or Mist. Participants can purchase Ethereum (ETH) from various exchanges such as Coinbase or Bitsquare, or buy with other cryptocurrencies from platforms such as Bittrex and Poloniex.
Afterschool’s ICO will start on September 26, 14:00 (UTC +4) and will continue for a month till October 26.
Learn more about Afterschool and its upcoming ICO at:
Website – https://tokensale.afterschool.ae.
Presentation – https://www.dropbox.com/s/ha8xp2boj6d1bpr/201709_afterschool_ico_pdf.pdf?dl=0
Facebook Page – https://www.facebook.com/afterschool.ae/
Twitter Page – https://twitter.com/afterschoolae
Slack – https://afterschool-ico.slack.com
Telegram – https://t.me/joinchat/EmxA0AwwQiWiUxLgvE7J0Q
Bitcointalk – https://bitcointalk.org/index.php?topic=2170828
LinkedIn – https://www.linkedin.com/company/18246439/
Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.