Monster is a famous electric accessories manufacturer that was founded in 1978 under the name of Monster Cable by Noel Lee. Main focus included “design, engineer, market and sell of headphones, cables, docks, speakers, power products and mobile accessories.” Distribution of its own items was the main profile of the firm but now it seems it will step its game up by launching a very own ICO. The target is none less than $300 million and the idea is selling Monster Money tokens to build the “Monster Money Network” according to the filing with U.S. Securities and Exchange Commission.

It was not easy for the company in the last few years and the plan is to gain back some of the lost market share via this idea, which was most probably the result of the breakup that Monster had to go through with Beats Electronics. Since this case, the two companies have been constantly entangled in a legal case where both claim that the other is owing money.

Monster Money Network aims to be a platform where Ethereum tokens will be accepted and the merchandise will be its own products. The company will create 500 million tokens and will sell 300 million during the ICO. Duration of the offering is one year or until the predestined amount of tokens sold off while in addition a 75 million shares of common stock will also be issued in order to offer safety. These stocks would serve as a mean of exchange if the network fails. Every four tokens could be changed for one share of stock if needed. The token is meant to be a fast and cheap payment method that would serve users for when the e e-commerce website is finally launched. The company hopes to go against companies like Amazon, Ebay or Alibaba with the platform.

The Network itself will be used “for payment processing, market analysis, accounting, audit and payroll services, inventory management and shipping operation” related to the company’s products sold online. The company truly believes in the idea, as the filing quotes:

“In the future, Monster intends to leverage its global connections and brand visibility along with blockchain technology to bring more and more other e-commerce platforms onto Monster Money Network and expand the user base of MMNY Tokens. We hope to set up the blockchain standard for e-commerce platforms.”

If the project turns out to be successful, Monster would love to see other e-commerce firms join the network. The ICO reveals that half of the funds would be for technical developments and around half of the rest is for marketing purposes –if the fundraising succeeds.