Kryptonite 1 plc Investment

 
TIDMKR1 
 
Kryptonite 1 Plc 
 
                          ("Kryptonite1" or the "Company") 
 
                                  Investment 
 
Kryptonite1 is pleased to announce that the Company has completed its first 
investment into an Initial Coin Offering (the "ICO") of SingularDTV ("SNGLS"). 
The Company has invested GBP5,605 into the ICO held on 2 October 2016, acquiring 
462,931 SNGLS tokens. The tokens represent ownership in a unique decentralised 
organisational structure called a Centrally Organized Distributed Entity 
(CODE). 
 
SingularDTV is a project put forward by Consensys, the largest decentralised 
application producer in the blockchain space. Consensys is building a film, 
music and TV content distribution platform, using smart contracts hosted on the 
Ethereum blockchain. The aim for the project is to reduce the role of 
'middlemen' as people try to access digital content online. Using smart 
contracts, people who view or listen to content through the platform will pay 
the content creators directly with cryptocurrency. This allows participants to 
reward their favourite content creators directly, and the content creators 
receive more money for their work as less is taken in fees. 
 
The SNGLS tokens confer holders with a claim to a portion of revenues and IP to 
show content. They will not have voting or governance rights, but they may have 
additional rights in the future. The SNGLS tokens are freely tradable on the 
blockchain platform. 
 
The directors of the issuer accept responsibility for this announcement. 
 
                                   --Ends-- 
 
Contact Details: 
 
Stephen Corran 
 
Kryptonite 1 Plc: 
 
Tel : [phone] 
 
Email : [e-mail] 
 
ISDX Corporate Adviser 
 
Peterhouse Corporate Finance Limited 
 
Fungai Ndoro and Mark Anwyl 
 
[phone] 
 
 
 
END 
 

(END) Dow Jones Newswires

October 07, 2016 07:48 ET (11:48 GMT)