NX Limited (INX ATS: INX), ("INX"), the owner of blockchain-based trading platforms for digital securities and cryptocurrencies, has signed a Letter of Intent with ALK Capital, owner of the English Premier League's Burnley Football Club, to list a publicly traded digital security token linked to specific club revenues.
Security tokens are digital assets that trade and settle on the blockchain. Unlike cryptocurrencies or basic fan tokens, these are securities that will be registered with the U.S. Securities and Exchange Commission. They will offer an innovative opportunity for communities and supporters to gain financial exposure within professional sports and directly participate in the success and welfare of their favorite teams.
ALK has been working with INX on a unique opportunity for fans and others to invest directly in a team's success and revenue streams. The security tokens would be available for purchase globally by retail and institutional investors, and then listed on the INX trading platform, which is open 24/7/365.
"We've been researching and focused for quite some time in pinpointing the correct digital financial instrument that gives our fans the greatest opportunity to be involved in building a strong financial foundation for our clubs, while giving them exposure to various revenue streams going forward with the comfort of an established regulatory scheme," explained Alan Pace, Chairman of Burnley Football Club and Managing Partner of ALK Capital. "We're always looking at ways to innovate, so we're excited to get our supporters involved on a whole new level."
Uniquely as a Premier League team, Burnley aims to work directly with its fanbase to build upon the team's financial foundation with a digital security that is expected to pay dividends to holders that should fluctuate with the team's successes on and off the field.
"INX is delighted to work with ALK Capital and Burnley Football Club to provide an innovative investment vehicle for fans and supporters of this storied football club. We look forward to working with Alan and his team to bring transparency, liquidity, and a unique investment opportunity to their global community," stated Shy Datika, Founder and CEO of INX Limited.
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