Scratch, the decentralized finance company, goes beyond SCRATCH Token to offer investors equity in itsfungible token (NFT) financial services.
San Juan, Puerto Rico, October 21, 2022 /PRNewswire/ — Scratch—the research and evaluation company NFT—is officially disbanding native Scratch Token offer its community the possibility of becoming co-owners of the company. Its real-time data-based NFT assessment tool – Scratch Engine – is an industry first, and the company is looking to capitalize on the latest developments in NFT.
“The NFT and crypto space is constantly changing, and we need to change with it,” says Shawn Owen, co-founder of SCRATCH Engine, LLC. “In the interest of protecting our early adopters and SCRATCH Engine, LLC in the changing regulatory landscape, we no longer believe that SCRATCH Tokenin its current form, has a viable future.”
The looming threat of SCRATCH Token being considered an unregistered title severely limited the company’s ability to respond to changing market conditions or follow something like a consistent product development cycle of “launch, measure, iterate”.
“Since its inception, Scratch Engine’s goal has been to provide transparency and standardization in the NFT market.” Owens continues. “We continue to believe deeply in this mission: to empower buyers and sellers to transact based on verified and up-to-date information. When we launched SCRATCH Tokenwe did it only as part of this mission.”
Now with the dissolution and end of support for SCRATCH Tokenthe Company wants to make the community something more: owners.
Shawn Owenco-founder of Scratch, believes deeper community involvement will lead to a far superior product:
“We are providing the opportunity for our first users to have company ownership following a reorganization from a limited liability company to a corporation. Together with our incredible community, we have already completed all elements of our roadmap of phase one and have continued on to Phase Two, which we believe will include the launch of the Scratch Engine BETA V1 in Q1 2023. Together, we can build the Scratch Engine stronger and better than ever.”
Although the Company initially planned to submit the SCRATCH Token for qualification as security – and can pursue such regulatory qualification of a future associated digital asset to power the Scratch Engine, they now believe the best way forward is to focus on the product. Then, during the public launch of the Scratch Engine, the Company will consider releasing a related digital asset.
Scratch realizes that they cannot build this alone, and the company plans to raise the necessary capital through the sale of the shares in the near future.
As part of this increase, they intend to accept SCRATCH from all holders starting on 21/10/2022 at 7:35 a.m. CST .in return for ownership. Any token holders who, for whatever reason, do not wish to participate in this increase and become shareholders of the Company, will be able to hold their SCRATCH Tokens. The Company will make every effort to exchange these untraded SCRATCH tokens for a Company digital asset in the future.
Further information can be found at Scratch Medium Page.
To learn more about the equity investment opportunity in SCRATCH Engine, LLC, please visit our average article for more details, or contact the Scratch team at [email protected].
With over a decade of experience in the combined digital asset space, Scratch is a company with the experience to bring the tools, standards, and strategic partnerships needed to build trust and financial services to NFT economies. , metaverse and blockchain. “Security, stability and scalability” is the Scratch team’s mantra, underlying all of its projects. To learn more about Scratch and the Scratch Engine platform, visit scratchengine.com.
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