AUSTIN, Texas, Oct. 25, 2017 /PRNewswire/ -- Algebraix Data, the developer of a platform that will enable people to earn from their personal data, has launched its token pre-sale, or Simple Agreement for Future Tokens (SAFT), offering 5 billion ALX Tokens to accredited investors.
Algebraix Data has scheduled an ICO, where a larger number of tokens will be offered to the public, for March 2018.
The company developed the SAFT with attorney Marco Santori of Cooley LLP, and will offer its tokens on the SAFTlaunch.com platform. SAFTlaunch.com is a new instrument for cryptocurrency launches, developed within regulatory guidelines.
"This brand-new platform is a place for companies in cryptocurrency to conduct SAFTs," said Suley Duyar, Director at SAFTlaunch.com. "We are happy to facilitate this marquis deal with Algebraix Data."
The launch of ALX Tokens—which are emblazoned with the Latin phrase 'Ego Meum Indicium Habere,' or 'I own my data'—is part of a process that will enable Algebraix Data to build a distributed, permission-based advertising network where individuals can earn tokens for sharing data and agreeing to view ads.
"This is the first step in bringing cryptocurrency to everyday Americans," said Charles Silver, Chairman and Chief Executive of Algebraix Data. "We will allow people to take ownership of and monetize their most important asset—their personal data."
Today, Internet giants collect and monetize information about individuals' shopping habits, interests, political leanings, health concerns, investment decisions, social interactions and other data. To date, there has been no mechanism for individuals to own and benefit from their own personal data.
The cryptocurrency-enabled, permission-based ad network in development by Algebraix Data will be the beginning of the era where consumers understand the value of this data, and benefit financially from sharing it.
To invest in the SAFT, visit SAFTlaunch.com. For more information on Algebraix Data, please visit AlgebraixData.com.
About Algebraix Data
Algebraix Data's secure, blockchain-based platform will empower individuals to own, control, and monetize their personal data. Its permission-based ad network will be fueled by the new ALX cryptocurrency and powered by the company's unique, patented Data Algebra ® technology.