Global Future City Holding announced that it will begin a public offering of securities for sale within California on November 4, 2015, following New York’s formal approval on October 6, 2015, and the effectiveness of Company’s Post-Effective Amendment to the S-1 with the Securities and Exchange Commission as of October 19, 2015.
What’s interesting in terms of the blockchain community is the business model that one of their subsidiaries’ operations have commenced. GX-Life Global is a multi-level marketing company offering a diverse line of products presently in the following categories: beauty, energy, nutrition, and tea, as well as the sale of all-inclusive travel packages, plastic surgery medical tourism packages and discounted fine art.
Membership in GX-Life Global’s multi-level marketing program incorporates status and reward point features which can be redeemed in cash or digital securities built on blockchain technology (similar to the Bitcoin platform) known as “G-Coins” or can be used to purchase products offered by GX-Life Global.
GX-Life Global say they are in the process of developing a robust, scalable platform to support multi-level marketing (“MLM”) opportunities throughout the world. This platform, coupled with its complement of over 25 consumer products, will initially be marketed through the multi-level marketing platform. GX-Life Global has acquired a sizeable block of “G-Coins” from Great Coin, Inc. (“Great Coin”), a Nevada corporation, which is in the process of developing the G-Coins which are an open source digital security that functions as a store of value and a medium of exchange. These coins are being registered by Great Coin with the Securities and Exchange Commission. GX-Life Global plans to deploy the G-Coins it acquires from Great Coin by distributing them to members of their MLM program community as loyalty points for the members’ participation in the MLM program. Members of GX-Life Global will be able to redeem their status points, reward points, and status reward points for G-Coin at 100% of their points’ dollar value. Each member of the MLM program will be issued a GX-Life Global-branded debit card that holds both redeemed cash and G-Coins. Additionally, holders of G-Coin will be able to use their G-Coins to purchase products offered by GX-Life Global.
Ning Liu, CEO and President of FTCY stated,
“WE ARE EXTREMELY PLEASED WITH THE PROGRESS OF THE BUSINESS DEVELOPMENT OF OUR WHOLLY-OWNED SUBSIDIARY, GX-LIFE GLOBAL, AND THE INTRIGUING PROSPECT OF UTILIZING DIGITAL SECURITIES TO FACILITATE ITS MULTI-LEVEL MARKETING PROGRAM. WE BELIEVE STRONGLY THAT BLOCK CHAIN TECHNOLOGY IS THE FUTURE OF THE INVESTMENT AND FINANCE WORLD AND ARE EXCITED TO INTEGRATE SUCH CUTTING-EDGE TECHNOLOGY INTO OUR BUSINESS PLANS.”
The Company has also recently re-launched its corporate website at www.gf.city and encourages all investors and shareholders to visit the website to stay up to date on the Company’s developments.