Imminent ICOs: You42 Announces Its Initial Coin Offering
Friday, June 29th, 2018
The social media and entertainment platform You42 has officially announced that it will be holding its ICO on July 2nd, 2018. The company offers a platform for artists to create, publish, and monetize works of art while connecting with their fans. By releasing its cryptocurrency--the U42 Token--in an ICO, You42 can raise the money it needs to maintain the platform and continue helping artists monetize their art.
You42 leverages blockchain technology to combat one of the serious limitations on modern artistic creativity: the dominance of major studios. A handful of publishing companies control most artistic expression, giving them the power to stifle creative works they don't like and to demand exorbitant prices from both artists and fans. By giving fans and artists an alternative way of engaging with each other while allowing artists to monetize their work, the platform has the potential to make big studios obsolete.
The platform hopes to raise a total of USD $50 million; it has already made significant progress toward that goal, bringing in $21 million during the presale. Through the ICO, You42 can raise the rest of the money it needs for a strong financial foundation.
A Look at You42
You42 wants artists and fans to be able to engage with one another free from the interference of major studios. To that end, the platform uses blockchain and other advanced technologies to offer:
Creative Tools- Artists of all media can create new works directly through the platform. This helps to stoke the creative potential of people who have artistic skills but lack the money and equipment to turn those skills into art.
Publishing Features- As a social media platform, You42 allows artists to publish their art so the whole world can see it. It also provides private publication options, in which artists can make their work specially available as rewards for their biggest fans.
Monetization Options- You42 gives artists the freedom to decide how they want to monetize their work, putting them back in control. With the U42 Token, they'll have more opportunities to advertise their content and broaden their audience.
To continue to develop and improve their platform, You42 has set a goal of raising $50M through sales of the U42 Token. The company has already raised $21M during their pre-sale, representing a substantial portion of the total fundraising goal. With the public ICO on July 2nd, You42 hopes to continue this success and obtain the financing it needs to sustain and grow the community around the platform, giving control back to artists and allowing them to connect with fans in new and exciting ways.