Etherparty Reveals Token Crowdfunding Tool

In an attempt to optimize utility token offerings, Etherparty has launched a new crowdfunding platform.

Vancouver-based smart contract developer Etherparty Smart Contracts released on Monday a new platform aimed at making it easier for start-ups to launch and track offerings of utility tokens.

Rocket, as the Ethereum-based platform is dubbed, is meant to assist users who are planning to raise money through the sale of digital tokens but want to do it without a development team. At the beginning, Rocket will support only utility token-based projects, but later this year, Etherparty expects to be able to include also crowdsales of security tokens, as well as projects related to securitized assets.

The Rocket service costs clients $49,800. In addition to getting access to the token creation platform, users also receive a page on the crowdsale, online guidance, and customer support. Clients can pay for the software through Etherparty’s own FUEL token, Ethereum (ETH) or Bitcoin (BTC).

So far, around 600 projects have signed up for the platform, compatible with Ethereum and Bitcoin’s blockchains, according to Etherparty.

“This product, our first of many to come, democratizes the token generation process and allows anyone to create in a safe, secure, and trusted environment — Shopify for smart contracts," said Kevin Hobbs, CEO of the blockchain start-up.

In continuation to Rocket’s launch, Etherparty announced a contest giving away 15,000 FUEL coins to three users who write comments on the company or the Rocket project on social media.

Currently outside of the top 200 cryptocurrencies by market cap, FUEL is Etherparty’s native ERC20 token. In an offering of FUEL coins that ended in October 2017, the Canada-based firm raised over $33.7 million, falling short of its $65 million target.