Indian Netflix Competitor Spuul Set to Lead the Way for Security Token Offerings
With over 65M users, Spuul, a Singapore-based VOD, OTT and Live TV platform which focuses on untapped local languages and regions including India, Middle East, Australia, and New Zealand, is all set to lead the STO wave with a unique model called the Sequility Token Offering (SQTO).
ICOs or coin offerings are all but dead, and a recent BitMex research report shows that around twelve projects which raised over $50M do not even have their tokens listed yet. This is just the beginning though, and given the obvious flaws in the outgoing ICO model, these developments should not come as a surprise.
Security token offerings are clearly the way forward, not just because of regulatory protections but also because solid projects with long-term goals and actual potential do not shy away from oversight and legal commitments to investors - one such project is Spuul.
Spuul is offering more than just a promise
An immensely successful video-on-demand (VOD), over-the-top (OTT) and Live TV platform which is capturing markets not prioritized by current global leaders like Netflix and Amazon Prime, Spuul has already managed to build a user base of over 65 million, and gross annual revenue of more than $12M.
Now, Spuul is planning to expand its platform by leveraging the blockchain technology and developing a film and TV ecosystem, called SPOKKZ, which empowers consumers and end-users to directly influence content creation and production.
To achieve this, Spuul has already raised $12M+ in funding since inception and SPOKKZ has found a technology partner and is building its blockchain based project on Ontology’s high-throughput protocol. Now, the team is preparing for a security token offering and is utilizing a new, multi-tiered model called the Sequility Token Offering (SQTO), designed specifically by the early-stage blockchain and technology venture company Krypton Capital.
Spuul’s STO model is a win-win for everyone
Instead of going for a typical fund raise, Spuul is following the SQTO model, and raising funds in various stages, starting with the Smart Seed round, during which it offers equity to private investors in exchange for convertible notes.
Meanwhile, as the SPOKKZ platform is further developed using seed funding, the company will prepare to issue security tokens to private investors in a new round (with smart seed investors having a chance to exit), followed by retail investors - all of whom will also receive the platform’s utility token in airdrops for added-value and actual usage.
Using this model, Spuul will be raising the funds it requires for future development while seed investors receive actual equity. Retail investors will also receive actual security tokens backed by Spuul’s revenue and will get utility token airdrops with real value.
The entire public offering will be legally compliant (with Reg D and Reg A+ baked into the tokens) and Spuul plans to be among the first listed security tokens on upcoming exchanges, including tZero and Bakkt.