In a collaborative effort, Bidnow, an online auction platform, pitchIN, a registered Recognised Market Operator (RMO) with the Securities Commission Malaysia that operates a Token Crowdfunding (TCF) platform (also referred to as Initial Exchange Offering) and Gambit Custody, a digital asset custody platform, unite to educate the public about Token Crowdfunding, digital assets investments, and the critical importance of secure digital asset storage.
As part of this strategic partnership, Bidnow, renowned for its one-stop solution platform for auctions, is set to play a pivotal role in Malaysia’s digital asset ecosystem through its upcoming token fundraising on the pitchIN platform. Token crowdfunding is a cutting edge way for businesses to raise funds by selling digital tokens to investors.
These tokens can be designed to provide different rights and features to investors. Unlike ICOs (Initial Coin Offerings), where tokens are sold directly by the project team to investors, in TCF, the registered platform acts as an intermediary and facilitates the token sale. In this case, pitchIN will be the recognized token crowdfunding platform for Bidnow. It is crucial to note that Bidnow’s token sales are contingent upon receiving approval from Securities Commission Malaysia.
Bidnow, known for being one of the leading online auction platforms, boasts over 20,000 active users and 8,000 real estate brokers. With a strategic roadmap that aims to be the first TCF issuer in Malaysia, Bidnow aims to introduce a token-based loyalty and rewards system enabled through blockchain. This will allow Bidnow users to utilize $BID tokens for various services offered by Bidnow, such as membership subscriptions, transaction fees, and rewards for agents.
To kickstart this initiative and promote awareness, a series of webinars and workshops are set to be jointly hosted by Bidnow, pitchIN, and Gambit. Taking place from 19th February to 3rd March, these educational sessions will provide valuable insights into the crypto market, digital assets, and the intricacies of Token Crowdfunding. Whether in-person or online, these workshops aim to empower potential investors with the knowledge needed to navigate the evolving landscape of digital assets.