World Tokenomic Forum, a social-enterprise think tank and consortium, on Thursday launched its Sandcastle Social Enterprise Fund focused on early stage, protocol and decentralized application investments for cybersecurity, infrastructure, identity, payments, and social impact companies. The objective is to find 64 top blockchain technology companies, across the world, to compete in its Sandcastle Startups Challenge 2018.
The fund model has a tiered give-back distribution of between 20-40 per cent of the general partners’ carried interest profits to non-profit organizations whose missions support next-generation entrepreneurs, global startup ecosystems, social enterprises, blockchain advocacy groups, research organizations and university incubators, according to its statement. This will be coupled with an active trading and annual dividend structure based upon the fund’s parallel token trading strategy.
The Forum’s focus is to “enable public-private cooperation, interoperability and innovation as we move to a new economic order in a token-based global economy”, said the statement.
An-industry agnostic consortium, it’s committed to building bridges not walls, shaping the future of our token economy and drills deep into the true efficacy and consequences of adopting or failing to embrace a digital society and harness the technologies that power it, said the statement.
Three 501(c)3 funding beneficiaries have been identified to date: StartupAZ Foundation, Global Blockchain Foundation and Jindal Centre For Social Innovation and Entrepreneurship.
To be tax-exempt under section 501(c)(3) of the Internal Revenue Code, an organization must be organized and operated exclusively for exempt purposes and none of its earnings may inure to any private shareholder or individual.
World Tokenomic Forum will be culminating its 2018 hunt and open application period in Austin, Texas at a four-day invitation-only BlokHaus party around the formal content themes of:
March 9, 2018: Smart cities, infrastructure, cybersecurity, and mobility
March 10, 2018: Banking, retail, payments, and identity
March 11, 2018: CPG brands, message tech, and enterprises
March 12, 2018: Block Bot-or-Not for ecommerce, healthcare, food and beverage, VR, AR, AI.
“We are delighted to announce what we believe to be a game-changing innovation to the way venture impact investing and carried interest profits are distributed by tying an aggressive growth and ROI strategy of our portfolio companies to an increased give-back that benefits a broader humanity in ecosystems around the globe,” said Chris J. Snook, World Tokenomic Forum founder/executive chairman and managing partner, in a statement.
Headquartered in the special economic zone of Cayman Enterprise City in Grand Cayman, the Forum has regional offices in Scottsdale, Arizona; Colombia, Maryland and Delhi, India.
Sandcastle Applications are open until March 15, 2018, with more information at www.worldtokenomicforum.com.
The World Tokenomic Forum BlokHaus in downtown Austin will invite 300 curated people per day from the corporate, civic, technology, and capital markets for insights, deal-making, and diligence on any applicants of Sandcastle that wish to attend. Request an invitation at www.blokhaus.vip
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