Phunware Announces Dual Token Structure

Cloud
31.05.2019 11:38 am

Phunware, Inc. (NASDAQ: PHUN), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, today announced the introduction of the Phun utility token (“Phun”) for its Multiscreen as a Service (MaaS) platform. The company’s dual token structure for MaaS ensures PhunCoin security tokens (“PhunCoin”) remain a regulated store of value, while Phun utility tokens act as a medium of exchange within the Phunware ecosystem.

Brands are able to purchase credits on the company’s blockchain-enabled data exchange to access the curated data in Phunware’s Knowledge Graph. Consumers are able to opt-in and engage with brands while maintaining full control of their digital identity. While PhunCoin captures the value of data, Phun is used in parallel to facilitate both ecosystem transactions and data collection.

“PhunCoin is a regulated investment vehicle that is available pursuant to existing securities regulations in the United States,” said Randall Crowder, Chief Operating Officer of Phunware. “However, we are excited to introduce Phun as a new utility token to not only support our ecosystem’s commercial launch worldwide, but also to enable the international community to get more actively involved as we drive towards mainstream adoption beyond our domestic borders.”

PhunCoin security token purchases afford fractional equity interests in the company’s blockchain-enabled data exchange, including ongoing monthly PhunCoin dividends to token holders totaling 2.5% of the monthly credits purchased by Phunware customers based on their respective pro rata ownership percentage. Token offerings for the United States, excluding New York residents, have been available via Reg D 506(c) and Reg CF. The Reg D 506(c) offering remains open to accredited investors, while the Reg CF offering for accredited and unaccredited investors was completed earlier this month on Republic at 350% of plan. Accredited investors can contact the company for more information about PhunCoin at phuncoin@phunware.com, while both accredited and unaccredited investors outside the United States can contact the company for more information about Phun at phun@phunware.com.

“We want to empower consumers to take control of their digital identity by decentralizing data and eliminating the need for untrustworthy intermediaries that continue to defraud brands and consumers alike,” said Alan S. Knitowski, Co-Founder and Chief Executive Officer of Phunware. “Personal data is an inalienable human right and we intend to deliver the benefits and promise of blockchain to the world’s population through the most important medium of interaction between consumers and the brands they love – a mobile device.”

A formal announcement of the company’s blockchain-enabled data exchange and mobile loyalty ecosystem launch will be provided in late June, including intermediate updates over the next several weeks as new partnerships and MaaS components are activated in support of these initiatives.