Astronaut Capital, a leading cryptocurrency fund, has become an early-stage investor in the private sale token event for TrustToken (TRU).
The TrustToken Platform aims to be a protocol to tokenize and transact on real-world assets on blockchains in a legally enforceable, fully accounted and collateralized way. Specifically, it is a proprietary legal and technical framework utilized to tokenize various real-world currencies and assets.
Potential areas that can be tokenized are assets such as real estate, patents, media, copyrights, sports teams, collectible art, and commodities like gold and oil.
While the details of the sale are still yet to be confirmed, the company anticipated to be holding an initial coin offering (ICO), where it will raise up to a maximum cap of $16 million during a public sale.
“There have been several platforms launch recently that are seeking to tokenize specific verticals such as property and infrastructure. In terms of full legal enforceability, we have seen nothing that compares to TrustToken thus far..” says Matthew Dibb, the CEO of Astronaut Capital.
But TrustToken aren’t just stopping at one cause. The company has already released their first token known as a stablecoin (TrueUSD or TUSD). The token is already listed on Bittrex and commands a higher average volume than Maker’s DAI.
“There is no doubt that TrustToken is on the cusp of creating something big. There is over $256 trillion of assets out there that can potentially be tokenized into a liquid tradable form through what they are developing.” says Matt.
It is expected that the TrustToken team will release more details relating to the sale shortly.
The Astronaut Investment Committee (IC) approved the investment citing “the market opportunity for creating fractional ownership of real-world assets on this scale is significant” and, “in comparison to others in the ecosystem, TrustToken is an established company with some segments of its roadmap already operational (TUSD).”
To accompany the contribution, Astronaut Capital released a full research report explaining its rationale for the investment. The research has been prepared through Picolo Research, an independent analysis firm focused on emerging blockchain companies.
A full overview of the venture and Astronauts participation can be found here.
About Astronaut Capital
Astronaut Capital is a research-integrated asset manager focused on early-stage cryptocurrency exposure and initial coin offerings (ICOs). The firm is backed by a leading institutional research house, Picolo Research, and utilizes the expertise of certified financial analysts for investment due diligence. Astronaut is a tradable token under the code ASTRO. More information can be found on the official website www.astronaut.capital.