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This case study is an addendum to our security tokenization audio documentary, entitled "Tokenize The World," which has +100k downloads. If you haven't heard it yet, check it out at securitytokendocumentary.com.
About this episode:
In this case study, our guest Rob Nance from CityBlock capital is brutally honest about the arduous process of issuing his fund's NYCQ security token.
(Note: if he’d known from the outset how difficult the journey would have been, he might never have started... especially given the bear market, immaturity of legal precedent, etc.).
Here’s some real talk: I regularly hear people who have never actually issued a security token advising companies to tokenize. In fact, on at least 10 occasions, people have suggested that Nomics -- the company that runs and runs this podcast -- tokenize our equity (as if it were a simple process). Nothing could be further from the truth.
As far as I know, this is the first published end-to-end case study and deep dive on what it actually takes to tokenize.
This case study is broken up into three chapters:
- Chapter 1: Tokenized funds – what they are, how they work, and the benefits they provide.
- Chapter 2: The five steps required to launch a tokenized fund.
- Chapter 3: Rob’s take on what the future looks like.
In this episode we discuss:
- The five-step equity tokenization process
- Whether CityBlock could do its work without tokens
- The inspiration for CityBlock’s business model
- How capital deployment decisions are made
- What kind of information CityBlock provides in terms of disclosures to token holders
- The standard methodology for evaluating a privately held, venture-backed company
- What a tokenized fund is
- How to invest in a tokenized fund
- Why investors need to expect to wait at least three years to sell
- The difference between building the team, product, thesis, and pitch for a tokenized fund versus a non-tokenized fund
- The up-front costs of tokenizing
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