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The world’s first blockchain-based football club stock exchange is being established – dedicated to offering the opportunity for investors and enthusiasts alike.
Whether or not an London Football Exchange (LFE) token can provide true ownership is still up for debate, but they are classified as utility tokens rather than security ones.
The LFE plans to buy small percentages of participating football cubs through a legal entity, and then on-sell its direct equity. This will give investors an indirect stake in the club!
LFE tokens are the cryptocurrency that power this platform, and they can be used for all sorts of things like match day tickets or player meet & greets.
With a fundraising goal of US$350m, 4 billion LFE tokens will be released over the next four months.
According to the latest announcements, “Swiss Super League club FC Lugano, English third-tier club Oldham Athletic, top division Polish club Lechia Gdansk and Rayo Ciudad Alcobendas – a team from the sixth division of Spanish league football – have recently signed partnership agreements.
The four clubs follow earlier agreements penned with FC Bari (Italian 2nd Division) and Futbol Alcobendas Sport (Spanish 4th Division).”
We’ve got two types of clubs at the moment, so every club we’re talking to is head over heels with this idea, but some of them aren’t interested in the equity raise and some of them aren’t interested in the fan experience.
LFE director James Aylward
The LFE platform will operate on the Ripple and Stellar ledgers and is expected to be operational during the first quarter of 2019.
In March, ASX-listed company Fat Fish Internet Group was appointed as a Blockchain advisor to the London Football Exchange ITO.
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