Sharplink Gaming (sbet), Ethereum Treasury company led by Joseph Lubin, revealed the plans on Thursday to tokenize its equity at Ethereum Blockchain as the warehouse tookenization trend gets steam.
The Minnesota-based company said it has tapped tokenization specialist superstaten as its digital transfer agent, while its equity token will be issued naturally through Superstate’s opening clock platform, a system designed to issue SEC-registered shares directly on blockchain rails.
The move comes as a tokenization of financial instruments such as equity wins speed across crypto markets. A number of tokenized stock offerings debuted in the last few months predominantly to investors outside the United States, including by Robinhood, Gemini with Dinari, Ondo Finance’s Global Markets and Xstocks of Kraken and supported Finance. However, some products raised concerns such as limited shareholder rights and fragmented regulation.
Sharplink’s tokenized stock will be legally identical to traditional equity, while it can be stored in digital wallets and integrated with on-chain protocols, the press release said.
In addition to issuance, Sharplink and Superstate also plan to investigate how such shares could eventually trade with decentralized exchanges and automated market manufacturers (AMMs). This step, if approved, would test how tokenized securities can circulate in markets built around smart contracts while remaining in accordance with US securities rules.
Sharplink’s initiative follows the digitally active investment company Galaxy’s (GLXY) Similar efforts to tokenize its common shares in class a With opening bells.
The sbet is lower by 7% in the early trade Thursday along with a steep slide in the price of ETH to under $ 4,000.
