On Ethereum, Oddity unveils a Linked Digital Security Token

On Ethereum, Oddity unveils a Linked Digital Security Token ...

On the Ethereum blockchain, Il Makiage's owner, Oddity, has launched a digital security token called the Oddity Token.

Security tokens allow private firms to increase money before an IPO, thereby potentially improving fundraising opportunities for companies by allowing them to invest before an IPO.

The move is one of the first times that a business that isn't focused on cryptocurrency has linked its equity ownership to a blockchain-centered security.

"In the form of offering this trailblazing token, we are democratizing investor opportunity by broadening individual access to Oddity securities, as we continue to disrupt and redefine the beauty and wellness category," says Oran Holtzman, the company's co-founder and CEO.

To give the token, Oddity is using Securitize, which is also registered with the Securities and Exchange Commission.

Security tokens are a form of regulated asset similar to bonds and bonds, even if they are created and traded like cryptocurrency.

"Crypto and blockchain technology offer consumers and capital markets enormous opportunities," Holtzman said. "With this agreement, we are building a new bridge to connect traditional markets with the vibrant world of digital assets, where innovation potential is huge."

Oddity, which gained $130 million last January, had a valuation of $1.5 billion. It is possible that the company will go public as soon as possible.

Oddity will receive funding from more than just venture capitalists, but it'll receive funding from accredited investors, who either have a net worth of $1 million or offer $200,000 a year.

The trading of the token will not be permitted until the first day of the initial public offering.

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