Blockhain technology, despite its recent inception, has already made a dent in many industries from medical to financial. Its permission-less, border-less, fast and efficient nature has enabled operators and users to cut on tedious and expensive layers of management. A sub-niche within the financial mega-sector is Venture Capital investment.
The so called ‘VC” is a private equity investor or investment firm that provides capital and funding to promising startups, companies or “talented founders” in exchange for an equity stake or any other form of ownership. As the interests at stake are humongous, VC has been an extremely selective and elitist “circle” of individuals.
The recent internet era has introduced the concept of crowd-funding through platforms such as Kickstarter where a multitude of people co-fund promising companies in exchange for perks and benefits. Ownership is not involved.
A new tech company built on the Blockchain, called GALACTIC, is merging the crowd-participation aspect with the investment and ownership perk.
GALACTIC is a decentralized, permission-less, crowd-governed investment fund built on the Binance Smart Chain. Founded by 5 serial entrepreneurs and experts in the Marketing, Blockchain, Fintech & Business Operations fields, GALACTIC is set to be fairly launched on decentralized exchange PancakeSwap in late May.
Founders, who have decades of business experience, along with a pool of Advisors will be identifying opportunities to acquire existing or launch new companies in the Tech, Fintech, Digital and Blockchain realm. Such options will then be presented to the community of GALACTIC (which will issue a utility token) token holders who will be asked to express their vote and govern the Fund plan of action. Once a company, either acquired or founded, enters GALACTIC’s portfolio, it will be managed and scaled with the aim of maximizing its profits and overall business health. All the quarterly net proceedings those companies generate will be equally distributed to GALACTIC’s token holders.
The Fund balance is self-funded by a 2% automated fee built into the GALACTIC smart contract. In fact, every transaction or trade has a total 6% fee taken from its amount and consists of:
A 2% of tokens burned and locked into liquidity making it deflationary. A 2% of tokens redistributed to all existing token holders making it yield generating. And, as said above, a 2% that is distributed to the fund to be used for investment opportunities.
Stay tuned for its launch as it represents a turning point for old school venture capital finally opening its doors to the masses.