Primary Market
The primary market is where new Channel Revenue Token (CRT) offerings are sold directly to Investors for the first time through GigaStar Market, the SEC-registered funding portal.
Understanding Primary Market
The primary market refers to the initial sale of Channel Revenue Tokens (CRTs) to Investors through GigaStar Market. When a YouTube Creator partners with GigaStar and decides to offer CRTs, the primary market is where those tokens are first made available for purchase. This is analogous to an initial public offering in traditional finance, but conducted under SEC Regulation Crowdfunding (Regulation CF).
In the primary market, each CRT offering is accompanied by a Form C filing with the SEC, which provides Investors with detailed information about the Creator, the revenue share terms, the maximum raise amount, risk factors, and other material disclosures. Investors review these documents and decide whether to participate in the offering based on their own assessment of the opportunity and risks involved.
Primary market offerings on GigaStar Market have defined funding goals and maximum raise amounts. Offerings remain open for a set period during which Investors can commit capital. If the funding goal is met, the offering closes successfully, and CRTs are issued to Investors. Distributions from the Creator's YouTube revenue then begin on a Monthly basis according to the terms of the offering.
The primary market is distinct from the secondary market, where previously issued CRTs can be traded between Investors. After purchasing CRTs in the primary market, Investors must hold them for a mandatory 12-month period before they become eligible for secondary trading on the GigaStar Secondary Market, operated by GigaStar Securities.
Key Points to Remember
- Primary Market is regulated by the SEC under Regulation Crowdfunding
- All investments carry risk — past performance doesn't guarantee future results
- Review all offering documents carefully before investing
Related Terms
Channel Revenue Token (CRT)
A digital asset that represents a percentage of a YouTube channel’s future revenue. A CRT becomes tradable in the secondary market after a 12-month holding period from its initial purchase.
Form C
An SEC filing required for all Regulation Crowdfunding offerings. Contains offering details, financial statements, and risk factors for Investor review.
Funding Portal
An SEC-registered, FINRA-member entity that facilitates securities offerings under Regulation Crowdfunding (Reg CF). GigaStar Market is a registered funding portal.
GigaStar Market
GigaStar Market is an SEC-registered funding portal and FINRA member where Investors can purchase Channel Revenue Tokens (CRTs) in primary offerings from YouTube Creators.
GigaStar Secondary Market
GigaStar Trading is GigaStar's upcoming SEC-registered Alternative Trading System (ATS), where CRT holders may buy and sell their positions, launching in 2026.
Investment Limits
SEC-mandated annual caps on how much non-accredited Investors can invest under Regulation Crowdfunding, based on income and net worth.
Offering
A CRT offering is when a YouTube Creator raises capital through GigaStar Market by selling Channel Revenue Tokens to Investors, with each offering backed by a Form C filed with the SEC.
SEC Regulation CF
SEC Regulation Crowdfunding (Regulation CF) is the federal securities framework that allows companies like GigaStar to offer CRTs to both accredited and non-accredited Investors, up to $5M annually.
Frequently Asked Questions
How is the secondary market different from GigaStar Market?
GigaStar Market (Primary Market) is an SEC-registered Funding Portal and member of FINRA that offers securities under a Regulation Crowdfunding (Reg CF) platform. This is the primary marketplace where Channel Revenue Tokens (CRTs) are first issued and sold directly to investors to fund a Creator. GigaStar Trading (Secondary Market) is an SEC-registered broker-dealer (BD) operating a digital Alternative Trading System (ATS) for the trading of Digital Asset Securities. This is a secondary market trading venue separate from the primary market, where eligible investors may buy and sell CRTs with one another. Primary offerings raise capital for Creators. Secondary trading allows existing investors to trade CRTs, transferring ownership, subject to market availability. NOTE: Investment offerings are speculative, illiquid, and involve a high degree of risk, including the risk of loss of your entire investment. Securities purchased in GigaStar Market must be held 12 months before trading in the secondary market. There is no guarantee of an active or liquid secondary market and investments are subject to market risk and will fluctuate in value. Past performance is not a guarantee of future results.
Are these the same CRTs I bought in the primary market?
Yes. Secondary trading involves the same Channel Revenue Tokens (CRTs) originally issued during primary offerings.
Can anyone invest in CRTs?
Investors aged 18 and older can invest in CRTs through GigaStar Market. Under Regulation Crowdfunding (Reg CF), non-accredited Investors have annual investment limits based on their income and net worth. All Investors must complete identity verification (KYC) as part of the account creation process before making any investment.