Disruption Is Coming to the Expansive Sharing Economy as ShareRing Launches Token Generation Event

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Mar 15, 2018, 10:17 ET

MELBOURNE, Australia, March 15, 2018 /PRNewswire/ -- Today, ShareRing is announcing the completion of a USD$3 million capital campaign. The seed funding round comes as ShareRing launches its Token Generation Event intending to issue four billion tokens, with a hard cap of USD$48 million (AU$62 million), through the sale of its utility token, ShareToken (SHR).

ShareRing is an on-demand platform that connects the highly fragmented sharing economy by bringing together sharing services onto a single platform. Using their decentralized marketplace, users can securely access, connect, and pay for services anywhere in the world. The sharing economy is a $100B+ industry^{^[1]} with tremendous growth potential.

This is not the team's first successful endeavor in the blockchain space. Several members of the ShareRing team also founded Keaz, a global leader in white label, car-sharing solutions that boasts more than 300 car-sharing and vehicle mobility locations in its growing worldwide network.

The concept behind ShareRing is built on the founders' vision to reduce global footprints and achieve greater social sustainability by better pooling our collective resources.

Tim Bos, co-founder of ShareRing, said: "The lightbulb moment for ShareRing came about when I was travelling through Japan and noticed the excessive amounts of hard rubbish collection along the streets. I realised just how much waste we produce as a massive consumerist society, and thought to myself, we can do better than this as a united global front if only we tapped into the real potential of the renting, borrowing and sharing community."

The $3.8 million capital was raised from friend and family investors in just six weeks and will be injected into building up ShareRing's current development team, app development, and its ongoing marketing strategy.

ShareRing's token generation event began on March 5^th. It's a private presale that's already attained requests for USD$10.8 million (AU$13.5 million+). Its public presale will open in the next couple of weeks, with the minimum contribution for presale participants set at USD$150,000 (AU$193,500).

Prior to the completion of the ShareLedger blockchain, the SHR token will be issued on the Ethereum blockchain using an ERC20 token standard and will be sold via a whitelist sale process, with a know your client (KYC) verification process for all contributions. ShareRing will also run a number of competitions and events in conjunction with its partners, including a Token Hunt and country specific competitions.

The whitepaper can be downloaded here: https://sharering.network/files/sharetoken-whitepaper-en-web-v1.0.pdf

About ShareRing

ShareRing is an on-demand, two-sided marketplace that brings together sharing services across all industries and geographies with avid, share economy users who can securely access, connect and pay for these services anywhere in the world.

For users, the ShareRing system provides a seamless, one-stop shop of sharing services while removing expensive currency exchange rates and international transaction fees, irrespective of where you are in the world or what you're borrowing, renting, or sharing.

For sharing companies, ShareRing provides a seamless on-boarding process into the sharing economy and offers a more secure way to rent and share assets, allowing companies to scale, build trust in their brand and gain exposure to a much larger customer database.

For more information visit: https://sharering.network/#/

^{^[1]} https://www.brookings.edu/research/the-current-and-future-state-of-the-sharing-economy/

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SOURCE ShareRing