Canadian Blockchain startup BitRush has announced that its London-based subsidiary AdBit is prepared to launch an Initial Coin Offering (ICO) later this year to finance further development of its ad brokerage platform with its ANOON payment platform as the integrated payment platform.
Within the ICO, AdBit will issue AdBit Coins as a new cryptocurrency to buy and sell ad spaces on websites or social media channels worldwide. The AdBit Coin can be bought by advertisers, publishers and investors within the ICO. It is intended that the AdBit Coin will be traded on the leading cryptocurrency exchanges for Bitcoin, Ether or other cryptocurrencies.
The AdBit Coin will be positioned as the cryptocurrency for the future of the ad industry. The company believes that its Blockchain technology has the potential to disrupt the existing online marketing and advertising industries, shifting them towards a peer-to-peer economy without business models such as those used by Google.
The ICO will be done in a 3-step approach starting today with a public discussion to get feedback and involve potential buyers. AdBit launched the ICO website on October 26th, 2016. The ICO has been prepared in close cooperation with leading experts from all involved fields such as technology specialists, subject experts, lawyers, accountants and investment professionals.
BitRush intends to raise sufficient funds with the ICO to further the development and rollout of AdBit and ANOON, thereby increasing shareholder value by gaining access to capital without diluting shareholders or taking on debt.