Abreu Advogados advised impactMarket’s IDO and funding round
Abreu Advogados advised in the impactMarket’s IDO (Initial Decentralized Offering) of $PACT utility tokens on Polkastarter and in its 1.15 million Euros seed funding round, valuing the web 3.0 company at 13.2 million Euros.
ImpactMarket is an anti-poverty protocol that enables the implementation of financial inclusion mechanisms, such as the Unconditional Basic Income (UBI), in vulnerable communities. Based on Blockchain technology, this protocol is managed by a decentralized, open and transparent network that supports disadvantaged societies through donations. With the association between UBI and Blockchain technology, impactMarket is unlocking possibilities both for donors to understand their impact, and beneficiaries to access finance without intermediaries.
As of today, impactMarket has distributed more than one million euros to 135 communities around the world, with donations from about 600 funders, leveraging more than 23.000 people from 25 developing countries out of extreme poverty
The Abreu Advogados team involved in these operations was coordinated by Diogo Pereira Duarte, Professional Partner and coordinator of Abreu’s FinTech practice and Hugo Teixeira, Professional Partner of the M&A practice and coordinator of the Start-ups sector.