Nashville-linked RecordGram to launch $300MM TUNE token sale
RECORDGRAM, the Miami-based and Nashville-linked provider of a music-collaboration app, today announced during TechCrunch Disrupt San Francisco its plans for a $300MM initial coin offering (ICO), using its token, dubbed TUNE. The offering is scheduled to begin mid-October.
On its crowdsale page, RecordGram says its ICO signals the introduction of "blockchain smart contract technology and TUNE tokens that will have at least 7 utility functions including app transactions and providing intellectual property rights and royalty payment transparency."
Venture Nashville reported Aug. 16 that RecordGram Co-Founder and CEO Erik Mendelson, an alumnus of the Nashville Entrepreneur Center's Project Music, said that if the company succeeded in raising $100MM or more via a token sale, the company is not likely to require another outside capital raise prior to its eventual exit.
Today's whitepaper points to the tech team at Frost Brown Todd as providing legal counsel on the RecordGram ICO offering and related matters.
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