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Akemona Announces Contracts with Sports Companies for Raising $10 Million Through Tokenization

Akemona, the first SEC-registered, FINRA-member, crowdfunding platform that allows businesses to issue digital securities in the form of blockchain tokens, has announced the signing of two contracts, with a US football league and a sports infrastructure company, for raising $10 million on its platform. Both these offerings are expected to go live on the Akemona platform in 2022. Ravi Srivastava, Founding Partner of Akemona, noted that Akemona expects to sign 3 to 4 significant deals before the end of the quarter.

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The Akemona platform provides small businesses, sports leagues, teams, athletes and artists the ability to issue tokens for their projects and to invite their customers, fans and the general public to invest in the projects by buying these tokens. As issuers, they can sell tokens representing bonds, which may be convertible into membership interest, common equity, or repayable in cash upon maturity.

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Akemona provides a seamless investment transaction between businesses and its fans. Its technology allows the issuing businesses to easily manage their obligations to investors, while digital tokens provide investors the ability to trade directly with other interested parties. On the Akemona platform businesses set their own terms for issuing tokens. “Investors like it because they can expect to share in the profits or get a payback with interest. These benefits provide a better value to businesses than seeking a loan from a bank,” Ravi Srivastava said.

Blockchain-based digital securities enjoy rising interest from investors as they offer direct ownership of the tokens purchased and the ability to trade them with interested buyers in the secondary market. Akemona is the only funding portal that can issue blockchain-based digital tokens as soon as the investor commits a payment.

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[To share your insights with us, please write to sghosh@martechseries.com]

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