What is Galleon Quest?
Galleon Quest IO (GQ) is an international investment group for the funding of treasure recovery projects in shipwrecks around the world. Galleon Quest will receive part of the treasure which it will hold as assets or sell part of for reinvestment in its crypto market, creating the first treasure backed crypto currency in the form of the Galleon Quest SEA Coin.
What is the Galleon Quest SEA Coin?
Galleon Quest’s SEA Coin will be an electronic crypto currency that intends to be traded and available for purchase through Galleon Quest ICO sale. After the SEA Coin is ready for release, it will be listed and sold on multiple exchanges.
Is the SEA Coin a Security?
Under U.S. Securities laws, Yes. That is why we are registering the offering under the Securities Act, Section 506(c) as to sales to U.S. Investors who must be accredited investors. Such SEA Coin is subject to applicable securities laws for U.S. Investors, including a holding period as set out in the prospectus and other documents.
How many Galleon Quest SEA Coins will there be?
There will only ever be 1,000,000,000 SEA Coins, which is hard wired into the Smart contract that controls the crypto currency. The Company does have the right to increase this amount before the ICO offering, but only in proportion to the offering price. Offering price is set at .20 per coin.
Do I need to be an Accredited Investor to Purchase SEA Coins during the ICO Offering?
Yes. During the ICO Offering only accredited investors from the United States will be allowed to purchase. Outside of the U.S. is a different standard.
Is there a Holding Period for the Galleon Quest SEA Coin?
Yes, for U.S. investors. Once the SEA Coins are prepared and listed on Exchanges, it can be transferred to the U.S. Investor. They are subject to the holding period as agreed by the investor for a minimum of six months.
Does GQ Hold Rights to any Suspected Treasure Sites Currently?
Yes. GQ has contracted rights to a number of shipwreck site areas including ones with proven shipwrecks in the area. Some with a limited amount of shipwrecks and some that may have a high number of shipwrecks in the area. However, under our model, we will not be tied to any certain sites since we will research and fund sites around the world.
How Many Galleon Quest SEA Coins will initially be sold?
In the Pre-ICO Phase there are up to 20,000,000 SEA Coins for sale to private investors. During the ICO Offering there will be up to 300,000,000 SEA Coins sold. The remainder outside of Team and Advisors will be held for bounty programs and secondary matters.
Can the SEA Coin be “Mined” Like other Crytpos?
No. The GQ SEA Coin is a base crypto currency that is not divisible and can not be mined like other crypto-currency.
What Gives Value to the GQ Sea Coin?
Galleon Quest’s SEA Coin value will be created through market forces related to what Galleon Quest holds as recovered assets from shipwrecks, the prospects of future recoveries from existing and future shipwreck sites, and liquidity of trading of the GQ SEA Coin, among other factors.
What is Galleon Quest SEA Coin?
Galleon Quest is a blockchain ecosystem making marine archaeology and treasure hunting more inclusive and decentralized. For the first time ever, people around the world can participate indirectly in treasure hunting expeditions through tokenization of the assets from search and recovery efforts. And, through our decentralized applications (DApps), Galleon Quest provides a secure and transparent recovery backed crypto-currency.
What problems does Galleon Quest solve?
Very few people are able to participate in the treasure recovery processs. Galleon Quest SEA Coins solves that problem by eliminating barriers to entry for people who want to participate in an investment for marine archaeology recovery, and something that is reflective of the treasure and artifacts that can be recovered.
Does Galleon Quest have competitors?
Currently Galleon Quest is planned to be the first-to-market crypto currency which is backed by recovered treasure and artifacts. There are treasure recovery companies, but none with an ICO backed by the treasure recovered. There is an archaeological auction to buy and sell treasure, but is not similar to Galleon Quest.
What makes you unique from other marine salvage companies?
For starters, we are not a marine salvage company at all. We are a salvage investment company. That means we will not invest in a treasure site unless they prove to us the best viability of recovery. That way we are not locked into a site or set of people, but instead make the best choices of the most promising sites.
What if you do not recover any treasure, what happens then?
This is quite simply the biggest risk factor. Even though we plan to go after multiple sites that are proven, there is never an assurance that we will recover treasure or large amounts of treasure. Read our prospectus and risk factors before making any investment decision. This is not for the faint of heart.
Can you mine Galleon Quest Coins?
Galleon Quest coins cannot be mined.
As a Holder would I have rights to Artifacts and Treasure?
As a Galleon Quest coin holder your will not have direct rights to ownership of recovered treasure, however we may make portions available for certain level holders or purchasers.
Do I have to do registration and KYC?
Yes, it is mandatory for U.S. Citizens or Persons. Please make sure you register and provide all required KYC documentation.
Can I send ETH from an exchange address to buy tokens?
No. DO NOT use crypto currency exchanges like Coinbase, Binance, Huobi or others. You MUST send from an ERC 20 compatible wallet such as MyEtherWallet, ImToken, etc.
What is the minimum investment?
Private sale 10,000.00 USD Minimum. During the Pre-ICO and Crowd Sale there will be a $1,000.00 USD min on coin purchases.
How can I be part of the private sale?
A minimum 10,000.00 USD investment is required for the private sale. Please contact us directly at info@GalleonQuest.io for more information.
Are all investors welcome to participate in token generation event?
For the most part, yes. For residents of the United States, we can only accept accredited investors under U.S. Securities laws. OFAC sanctioned countries are NOT permitted to participate in our token sale. For more information on OFAC listed countries please visit, U.S. Department of the Treasury
Which exchanges will Galleon Quest be listed in?
While we have no control of any decentralized exchange listing for the Galleon Quest SEA Coin, we will be talking and negotiating with major centralized exchanges to list the Galleon Quest SEA Coin. For regulatory issues, we cannot comment on exact details of the exchange.
Do I need a special wallet for Galleon Quest Coins?
Any wallet supporting ERC 20 tokens such as MyEtherWallet, ImTokeb, etc. will work.
How will you peg a portion of the Recoveries to Galleon Quest and what is the reason for doing so?
Upon our first successful expedition a portion of the recovered treasures such as gold or silver will be placed in a reserve in order to bring stability to our SEA Coin and liquidity for future expeditions and development of new blockchain technologies.
What is the difference between Galleon Quest IO and Galleon Quest LLC?
Galleon Quest IO is the originator of the Galleon Quest SEA Coin for listing on the crypto exchanges. That initial monies, and subsequent sales will be used to enter into contracts by Galleon Quest LLC with the treasure recovery sites. So, Galleon Quest LLC acts as the agent investing and controlling the recovery relations with the treasure sites. Galleon Quest LLC will also be responsible for conserving, protecting and when chosen, selling the recovered objects as well as museum and other displays.
But Won’t Countries Want their Treasure Back from their Ships?
First, we will only work with salvors who have admiralty orders or rights from a jurisdiction country. When they do, they have rights of recovery, it is a kind of a maritime legal finders keepers. The only real time a country can claim a ship is if it was a warship, which we will strive to avoid. The vast majority of ships from any period that were lost with valuable objects were merchant ships. Many times, the identity of a vessel can never be ascertained.
How many Ships are there to be found?
The numbers are huge on unrecovered shipwrecks. It is estimated that less than one percent of the worlds shipwrecks have ever been subject to salvage. Large percentages of ships from the early 1520s to the later 1800s were lost at sea, many of them in shallow recoverable waters.
How are Shipwreck Sites Decided Upon?
Research, due diligence, and more research. Our expert archaeologists know the industry, the players, shipwreck histories, and most of all how to research the histories of shipwrecks, from the museums in Spain, to Havana, and around the world. We simply will take the best places possible that have produced and should produce before we ever invest the first money in any project.
What will Galleon Quest do with the Treasure and Artifacts?
Any objects that we recover: gold, silver, coins, jewelry, firearms, old liquor bottles, and any other items will be conserved to clean and protect them. We have locations and persons available to do that. Then we will store some, display some, loan some to museums, perhaps road shows, and can sell some to put the proceeds back into our crypto market as a buy back. But mainly we will keep control and ownership of these items as assets.
Can I get a chance to go on a recovery operation?
Yes. With some levels of investment, we are planning to arrange visits at one of the recovery operations. While this will not mean you can necessarily dive due to the dangers and liability, the opportunities to be there will likely be offered. We will announce more on this later.