Electronic accessory company Monster plans to host one of the biggest initial coin offering (ICOs) of all time.
According to a filing with the US Securities and Exchange Commission, Monster wants to raise $300 million through the sale of “monster money tokens”.
These tokens will be used to build a platform called the Monster Money Network, which will function as an online store for its products.
Monster’s coin offering will run for one year and sell up to 300 million tokens out of a total of 500 million.
“As we develop Monster Money Network and our backend systems, we intend to utilise the blockchain technology for our marketing, accounting and audit, internal control, and shipping management functions,” it said.
“We believe the blockchain innovation will bring disruptive advancement to our ecommerce and business operation systems.”