Space is the new frontier for mankind to explore. Unsurprisingly, the private space travel industry is growing at an exponential rate. Some of the world’s richest and leading visionaries such as Elon Musk and Jeff Bezos are pouring billions into space startups, and one particular startup to watch is SpaceFund.
SpaceFund, a venture capital firm, is one of the many startups seeking to leverage the opportunities that come with private space travel. It is betting on Blockchain technology to expedite its plans and bring its goals to fruition, and it has partnered with two Crypto companies to make this happen: Switzerland’s Smart Valor and Coinbase-backed Abacus.
A World’s First
SpaceFund is not the only company seeking to cash in on the space travel industry, but it is setting the pace. It is the first company to introduce a space security token designed to make it easier for people to invest in space startups.
SpaceFund’s ultimate goal for tokenizing its funds is to expedite the pace at which mankind is exploring space on a private level. However, it will take the realization of its short-term goals to make this happen. The company is depending on the liquidity that will come with tokenization to give its shareholders greater access to funds as well as space startups. It is also looking forward to opening its doors to more investors on a global scale thanks to the flexibility of cryptocurrencies.
SpaceFund comprises of a collection of experts in finance, Blockchain technology, space technology, and other relevant fields. Its team comprises of business leaders with an interest in space travel, space technologists, investment experts, and Blockchain developers. Its management team is also comprised of portfolio managers overseeing dozens of space-oriented startups. Combined, this makes for a stable and ambitious company.
Abacus will lend its experience and knowledge in cryptocurrencies considering that it is backed by Coinbase, one of the leading crypto exchange platforms. It will be tasked with the administration and issuance of SpaceFund’s security token – it is important to note that security tokens are backed by actual assets and, as such, are regulated, unlike ordinary utility tokens.
Smart Valor will also do a lot of heavy lifting. The company, a start-up investment platform that is based on Blockchain technology, is under the regulation of the Swiss Financial Market Supervisory Authority (FINMA). Its operations are currently limited to Switzerland but CEO Olga Feldmeier said that plans are already underway to accommodate international investors – this, consequently, will open SpaceFund up to the global market.
From the U.S. to the World
SpaceFund’s security tokens are currently only available to accredited investors in the U.S. since they are regulated by the Securities and Exchange Commission. However, plans are already underway to make these tokens available to international investors. All three companies are already developing their international legal frameworks and there is optimism that global jurisdictions will become more open towards the idea of global cryptocurrencies in the near future.