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Monster Inc. headphones at CES 2015. Photo: Ethan Miller/Getty Images

Monster Products, known for products like headphones, speakers, and very heavy cables, has filed with the U.S. Securities and Exchange Commission for a $300 million initial coin offering (ICO). Coindesk first reported the filing.

Why it matters: Monster will be one of a very few existing consumer companies to turn to digital tokens to raise capital. The company says that it will use the proceeds to build a network through which tokens can be used to purchase its products, as well as to finance other business activities.

Offering details:

  • Monster will create 500 million tokens and will sell up to 300 million of them at $1. The remainder will be kept by the company and distributed at its discretion.
  • The offering will run for one year, or less if it sells out faster.
  • If the network doesn't materialize and the tokens don't become publicly tradable by June 30, 2020, token holders will be able to convert them to common stock at the rate of four tokens to one share. The tokens don't come with equity or voting rights.
  • Though Monster will start with an Ethereum-based token for payments, it eventually wants to build its own blockchain.

Go deeper

Trump's assault on Chinese tech left loose ends galore

Illustration: Sarah Grillo/Axios

President Trump's haphazard war on Chinese tech has left the Biden administration with a raft of unfinished business involving efforts to restrict Chinese firms and products in U.S. markets.

Why it matters: The Chinese and American tech industries are joined at the hip in many ways, and that interdependence has shaped decades of prosperity. But now security concerns and economic rivalries are wrenching them apart.

Biden's thin, short path

President Biden has a thin, short path to success in his first six to nine months, top advisers tell Axios. His success, or failure, will dictate whether he can hold off both Republican critics — and activist Democrats who want him to go bigger, faster.

The big picture: Biden has to get vaccinations moving and the stimulus bill pumping, so the economy will start rocking, advisers said. That’s why he loaded his White House with veteran loyalists focused almost exclusively on these two topics.

Most states aren't prioritizing prisons for COVID vaccines

Illustration: Eniola Odetunde/Axios

Most states have not made much of their incarcerated populations eligible for the COVID-19 vaccine.

The big picture: Jails and prisons have seen big outbreaks and a higher death rate than the general public, but with supplies still limited, most governors aren't putting prisoners at the top of the list for vaccines.