Smith Anderson represents the Fan-Controlled Football League (FCFL), a start-up launching the first initial coin offering (ICO) pre-sale on Indiegogo and MicroVentures’ newly announced global ICO platform.
The platform allows both accredited and unaccredited investors to invest in token offerings.
FCFL, the first professional sports league guided by people who buy its tokens, or FAN tokens, is truly designed for the digital blockchain age. The FAN token is a Smart Token built on the Ethereum blockchain platform, which will record and maintain all fan-driven decisions and changes of ownership transparently making all activities accessible to League participants.
With Smith Anderson’s counsel, FCFL successfully launched its token pre-sale on December 12, 2017, offering bonus tokens in advance of a final utility token sale as a reward for early investor support. Surpassing its $5 million goal for the pre-sale, the company plans to enter the next stage of its ICO and sell tokens publicly in the first half of this year.
The offering was led by Smith Anderson Partner Margaret Rosenfeld (Picture), who leads Smith Anderson’s Blockchain Technology and International Law practices, and included Smith Anderson attorneys Heyward Armstrong, Joshua Bryant, James Jolley, Davis Roach and David Sartorio. The team counseled FCFL through launching its token pre-sale on the new platform and will continue to advise the company as it enters next stages of the offering, the public launch of its ICO.
Involved fees earner: Margaret Rosenfeld – Smith, Anderson, Blount, Dorsett, Mitchell & Jerni; Heyward Armstrong – Smith, Anderson, Blount, Dorsett, Mitchell & Jerni; Joshua Bryant – Smith, Anderson, Blount, Dorsett, Mitchell & Jerni; James Jolley – Smith, Anderson, Blount, Dorsett, Mitchell & Jerni; Davis Roach – Smith, Anderson, Blount, Dorsett, Mitchell & Jerni; David Sartorio – Smith, Anderson, Blount, Dorsett, Mitchell & Jerni;
Clients: Fan-Controlled Football League;