Source: London Football Exchange
FC Bari 1908 has agreed (subject to contract) to become the first Italian club to join the London Football Exchange (LFE) in order to access the LFE Fan Experience platform by trading football equity on the blockchain and giving thousands of ordinary fans a level of access that they have never seen before.
“We will be delighted to welcome FC Bari to the LFE. This clearly demonstrates the real life use case of how LFE platform can benefit both clubs’ funding options and fans’ involvement in the game. We applaud the forward-thinking senior management of this historic club who deserve a lot of credit for embracing this revolutionary new model of football finance and engagement,” said Charles Pittar, Corporate CEO at London Football Exchange.
The LFE Exchange will be the first ever football stock exchange that offers fans the chance to buy shares of football clubs built on blockchain. As well as being a one-stop shop for clubs of all sizes to raise capital via equity sales, it also offers LFE contributors a wealth of fan experiences and social interaction.
“We look forward to developing this relationship and being one of the first clubs in the world to take advantage of this revolutionary technology, considering that FC Bari is a club with a rich history, our fans are our life blood and we see this as a way to give back to them and reward their loyalty,” said Cosmo Antonio Giancaspro, Chairman of FC Bari 1908.
Sam Robinson, a partner at international law firm CMS, who advised LFE on their Initial Token Offering, said “Having worked with LFE to launch their platform, it’s extremely exciting to see football clubs starting to embrace the LFE model. I’m sure many more will follow FC Bari’s lead in recognising the opportunity that LFE can represent for clubs and for fans.”
The underlying technology of LFE is unique because it is the first application of blockchain to enable football fans to buy fan experiences and football club shares.
This is made possible because the LFE platform will be built on the Stellar and Ripple networks, which will support speeds of around 1500 transactions per second.
Contributed | what does this mean?