With a 20-years worth of experience in the business, leading European parking services network ParkinGo is heading in a fresh direction with the launch, last Tuesday, of an initial coin offering (ICO) of its GOTokens /GOT.
The company, which has 55 parking locations across Europe, says Its objective is to raise USD 10 million and bring a new level of efficiency and transparency to its 2.5 million annual customer transactions, as well as the international expansion of its parking lots near airports and trains.
According to a press release, the public will have the opportunity to buy 20 percent of the overall token supply, with 80 percent of GOTokens already sold pre-ICO to “reservation contracts”.
GOTokens are being classed as utilities by the company, giving access to the benefits of the ParkinGo network.
The tokens will give holders priority access to all ParkinGo Group services, such as first in line check-in and transfer, guaranteed reserved parking, and access to a reward system that distributes extra tokens for providing feedback, checking in online, or buying extra services. These extra services include airport shuttle services, car valeting, refueling, tyre changes, and car delivery to the airport.
Of the USD 10 million target for the ICO, the company said that 45 percent of the proceeds will go to business development and marketing, 28 percent to team growth and 20 percent into software and technology.
The ParkinGo ICO, which will be held on Eidoo's ICO Engine, runs until June 27. The /GOT tokens are ERC20 utility tokens, with a total supply of 100,000. The soft cap is USD 2 million.