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 security representing contractual rights to receive a share of a YouTube Creator's potential future revenue, offered through GigaStar's SEC-registered platform.
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's upcoming SEC-registered Alternative Trading System (ATS) where CRT holders may buy and sell their positions, launching March 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
Are CRTs cryptocurrency?
No. CRTs are traditional securities registered with the SEC under Regulation Crowdfunding. They represent contractual rights to a share of a Creator's YouTube revenue, not a digital currency or blockchain token. Unlike cryptocurrency, CRTs have regulatory oversight from the SEC and FINRA, required disclosure documents (Form C), and Investor protections built into the offering structure.
Can I participate if I don't already own any CRTs?
Yes. Eligible investors may buy CRTs on the secondary market even if they have never invested in a primary offering.
What happens if a Creator stops making videos?
If a Creator significantly reduces or stops content production, their YouTube revenue would likely decline, which directly reduces or eliminates your distributions. This is one of the key risk factors of CRT investing—your distributions depend on ongoing Creator activity and YouTube revenue generation. While existing videos may continue to earn some revenue, new content is typically the primary driver of channel performance.