London – 26th January 2018
Exciting news today as the London Football Exchange (LFE), the world’s first football-based cryptocurrency powered by blockchain technology, has officially launched. This is the first ever cryptocurrency offering fans the chance to buy shares of football clubs, powered by blockchain technology.
For fans it aims to create the ultimate sport community – by investing in the LFE Token they get exclusive access to football related services, merchandise, events and unique VIP experiences
For clubs it enables an injection of fresh capital to create added value to boost club financing, improve fan engagement and promote social good, youth development and gender equality.
The first of its kind
LFE’s cryptocurrency is intended to allow a fan-driven football community the opportunity to take part in various club and fan experiences from match day tickets, tours, and player meet and greets, to specific merchandise and third-party partner offers. London Football Exchange will use the blockchain to help clubs provide loyal fans with better services at a reduced cost.
“Our vision is to allow football clubs to take advantage of the token funding economy for their financing needs by providing them with a tokenized financing infrastructure which involves token design and issuance services.” said Charles Pittar, Corporate CEO of London Football Exchange.
A vision for clubs and fans
Discussions are already underway with over 50 clubs including UK Premier League Clubs and some of the most prominent teams throughout Europe, USA and Australia.
“The LFE aims to become a ‘one-stop-shop’ for clubs of all sizes to raise capital via equity sales and offer LFE contributors a wealth of fan experiences and social interaction. Clubs will be encouraged to offer some equity through the LFE and are required to offer a minimum number of unique experiences or special offers so that the real fans can take part in their favorite clubs.” commented Scott Smith, Football CEO of London Football Exchange.
LFE is being advised on the launch by leading law firm CMS. Sam Robinson, a partner at CMS, said: “It is very exciting to advise LFE on establishing a business that is aiming to have an impact on the entire football industry using blockchain technology. As a firm, CMS has a particular focus on FinTech and we are delighted to be able to support businesses like LFE that are at the cutting edge of regulation and technology”.
LFE engagement services will include LFE Points, a blockchain-enabled loyalty, rewards, and offers platform. LFE members benefit through special discounts, exclusive offers, rewards and other incentives only available to LFE token holders. The more LFE token holders engage with their favorite clubs and leagues, the more LFE Points they will receive.
For the clubs, the LFE tokens aim to also help them eliminate the antiquated ticketing technology from legacy operators where they pay fees ranging from 5% to 8% in commission based on the notional value of tickets sold.
The fixtures
As part of its Initial Token Offering, LFE will generate a total of 4 billion tokens with 2.4 billion tokens made available for general sale. The tokens will be priced at $0.20, which equates to a fundraising goal of approximately $350 million. The pre-sales run from 15th January 2018 to 11th February 2018, with the public sale taking place directly afterwards, from 12th February 2018 to 20th May 2018.
The LFE Platform will use the Ripple and Stellar networks to support token issuance, trades, and transfers, with Bitcoin, Ethereum and Ripple all accepted as part of the token sale. Bank transfers of British Pounds, Euros, US Dollars, Australian Dollars and Swiss Francs will also be accepted.
Find out more…
The London Football Exchange is a global movement to create the ultimate sport community where fans partake in exclusive club and fan experiences. The LFE Token is a utility Token which provides holders with exclusive access to football-related services, merchandise, events and unique VIP experiences.
LFE is set to be huge! There are over 4 billion fans worldwide and discussions are already underway with over 50 clubs including UK Premier League Clubs and some of the most prominent teams throughout Europe, USA and Australia.
For more information, and to read the white paper, visit: https://lfe.com
