The South African company launched a token presale of WealthE in December 2017.
“We are in the process of finalising our presale in order to ensure that we have all the safety precautions in place in terms of security for contributors and plan to launch the public sale portion of the token sale on March 14th,” Wealth Migrate CEO Scott Picken told Ventureburn in an email.
“As you have published before, ensuring that a token sale is successful takes a great deal of planning and we are ensuring that we put the planning in place,” Picken (pictured above) added.
Wealth Migrate raised US$2.2-million in its early contributor round (private pre-sale)
When asked for comment on how the token pre-sale had performed, he said the company would not release any figures around the pre-sale until it was completed.
However, he said Wealth Migrate had received what he termed as an “enthusiastic response” to the company’s early contributor round (private pre-sale) — having raised US$2.2-million against a target of US$1-million.
“Unlike numerous initial coin offerings, Wealth Migrate is an established business already running on an existing blockchain-based platform. Additionally, our executive team — which spans five continents — has collectively invested over US$1.4-billion for clients in real estate transactions over the last 20 years,” he said.
“Our reputation, sector expertise and global expansion plans have proven to be compelling for investors during phase one of our sale, the results of which we plan to announce in advance of the public sale,” he added.
Wealth Migrate aims to raise US$30-million — inclusive of the early contributor round, pre-sale and public sale — off an allocated 300 million WealthE coins.
According to Wealth Migrate’s whitepaper, one WealthE coin is equivalent to $0.10.
The company intends to use the proceeds of the sale to finance development of its platform, roll out global hubs in Asia, Australia, US, UK, the Middle East and in Africa as well as pre-purchase real estate among other activities.