SharpLink Gaming,Inc. is making history. The company plans to tokenize its Nasdaq-listed SBET shares directly on Ethereum. Superstate, a financial tech firm, will act as the Digital Transfer Agent.
SharpLink announced this move on September 25. The company will use Superstate’s ‘Opening Bell’ platform for compliant onchain issuance. Joseph Lubin, Ethereum co-founder and chair of Superstate, believes this step shows the future direction of global capital markets. “Tokenizing equity on Ethereum is not just a tech feat; it’s a statement about the future,” Lubin said.
The partnership goes beyond issuance. SharpLink and Superstate aim to explore automated market makers (AMMs) for compliant secondary trading of tokenized equity. this aligns with the SEC’s Project Crypto,a framework for blockchain-based markets.
Trading on AMMs could offer real-time settlement, global access, and transparent price discovery. This could make sharplink’s tokenized equity more useful than traditional stocks. The partnership also shows SharpLink’s commitment to Ethereum. However, investors are cautious. SBET stock fell 7.63% on Thursday, reflecting broader crypto market trends.
Key points:
- SharpLink to tokenize Nasdaq shares on Ethereum
- superstate’s Opening Bell platform manages issuance
- Exploring AMMs for secondary trading
- Aligns with SEC’s Project Crypto
