The Digital Securities Weekly is a weekly digital security news publication that offers in-depth coverage of the cryptocurrency and blockchain industry. Today, this publication reported on what it called “an intriguing new move by Porsche to acquire GreyP,” which has created another major player in the world of alternative investment vehicles.
The “what are nft tokens” is a new type of digital asset that can be traded on the Ethereum blockchain. The “Digital Securities Weekly” discusses how Porsche has acquired GreyP, a company that specializes in tokenized IPOs and other forms of securities.
Upstream makes its debut.
Have you ever wished for a mobile-friendly worldwide marketplace that catered to asset types like NFTs, digital securities, and others? ‘Upstream,’ which was just established, aims to fill the void.
Upstream intends to hit the ground running as a joint venture between MERJ and Horizon, with early support from well-known musicians like Timbaland and Pitbull.
Timbaland shared his thoughts on the collaboration and the role Upstream will play alongside ‘Beatclub.’
“Beatclub is ecstatic to be teaming up with Upstream to let fans to buy and sell music shares, NFTs, and other digital experiences… Allowing fans to purchase shares in their favorite songs in exchange for royalties, tours, and other initiatives provides artists and composers with a significant new instrument for self-funding while also increasing fan involvement.”
Upstream claims to be the “first digital asset securities market based on the Ethereum blockchain and administered under a fully-fledged securities exchange license and rules.” This implies that Upstream users will be able to produce and trade a wide range of asset types while being completely compliant with regulatory requirements. The following are a few instances of what various asset classifications involve, according to Upstream.
- Initial Public Offerings (IPOs) using Tokens
- Tokens of Security
- Film and Music Royalty Rights
In addition to giving access to the aforementioned assets, Upstream emphasizes its ease by allowing users to manufacture and sell NFTs on a single platform.
GreyP is acquired by Porsche.
GreyP was one of the first organizations to organize a successful STO almost two years ago. This was accomplished with the assistance of NeuFund, a German FinTech firm at the time. The legendary vehicle manufacturer, Porsche, has announced its majority purchase of GreyP, proving that this event was valuable for investors in the project. With this result, NeuFund estimates that $1.8 million USD will be awarded to the 1000+ investors that participated in the STO.
GreyP has shown the power of blockchain to deliver new options to a larger class of investor as one of the first successful STOs. It will be fascinating to watch whether other firms who obtained money via NeuFund (Nu+, Emflux Motors, Black One Entertainment, and so on) are able to exit successfully in the future.
“The Greyp Bikes exit illustrates that private firms can successfully use blockchain Public Offerings, while decreasing the barrier to entry for individual investors,” said NeuFund CEO Zoe Adamovicz. To think that the whole cycle of investment is going to be finished, from fundraising to exit, by a firm that isn’t situated in Silicon Valley or other tech centers makes us tremendously pleased and demonstrates that global, open, transparent, and blockchain-based fundraising is the future”
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