A Perth-based blockchain company that just held the first of a three-round token offering says it is also working on a potential NASDAQ listing.

Phaeton says its PHAE coin has been listed on the Estonia-based LA token platform as well as an exchange known as P2P2B2B2.

The first round of the sale sold out last week within 24 hours, raising US$1 million for the project, but there’s still the opportunity to participate next month at five times the price.

“Phaeton is a coming-of-age decentralized blockchain network that allows developers to leverage Sidechains and Smart Contracts to build scalable blockchains,” the company said.

Phaeton’s white paper says the network will include a “biometric smart card” and a single-sign-on platform with multi-factor authentication.

There will also be a blockchain incubator focused on helping social impact businesses, Phaeton says, as well as “sidechains” to help the network “scale”.

“The Sidechain application, Biometric card and Supply Chain application are designed and well-suited to complement and improve transparency, security, trust, and efficiency for our customers.”

A five-member team is behind the project, including chief executive officer Ron Forlee.