Monster Products files for $300 million initial coin offering

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.