Kryptonite 1 plc Investment
07 October 2016 - 12:48PM
UK Regulatory
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 : 01624 676716
Email : scorran@bridgewaters.co.im
ISDX Corporate Adviser
Peterhouse Corporate Finance Limited
Fungai Ndoro and Mark Anwyl
+44 (0)20 7469 0930
END
(END) Dow Jones Newswires
October 07, 2016 07:48 ET (11:48 GMT)