Place/Date: London, UK - July 10th, 2018 at 8:05 pm UTC · 4 min read
Contact: Flynn Kennedy, Source: London Football Exchange
The London Football Exchange (LFE) announced that it has partnered with Lightyear.io, a software company that develops applications and infrastructure for the Stellar ecosystem and will be building the rapidly expanding LFE ecosystem on the Stellar network.
The LFE has an ambitious vision to transform fan engagement in the world’s most popular sport – professional football. By combining the passion of the global football fan base with the global reach and speed of the Stellar network, the LFE will unlock new possibilities in ticketing, merchandising, broadcasting and fan experiences through the LFE ecosystem, including the LFE Market and LFE Exchange.
Built on Stellar’s blockchain technology, the LFE Exchange will be the world’s first ever stock exchange that will offer members the opportunity to invest in the shares of football clubs.
The LFE Market will provide members with the opportunity to partake in the various football club and fan experiences, such as ticketing, tours, player meet and greets, content, broadcast and streaming services, and merchandise.
The LFE ecosystem, including the LFE Marketplace and LFE Exchange, aims to connect its members with football clubs to provide new fan experiences that weren’t previously possible. For the first time, fans will have the ability to acquire a stake in their favorite football clubs.
The new capital injection that fans will make will enable football clubs to create added value for their fan investors in areas such as squad strengthening, stadium improvements, sporting infrastructure, youth development and marketing strategies.
Ben Leigh Hunt, founding partner of the London Football Exchange had these words to offer about the partnership;
“The LFE’s mission is to bring the football world the best in cutting-edge technological and financial solutions. Together, LFE and Stellar make the perfect match to transform the fan experience while introducing millions of loyal football fans to the benefits of the blockchain technology through speed, inter-connectivity, and efficiency.”
The LFE Market and LFE Exchange are powered through the use of the LFE Token, which is intended to be the world’s foremost football-based cryptocurrency. Additionally, LFE intends to establish a remittance and payment service for its token holders, which will be enabled by the Stellar network.
Boris Reznikov, Director of Partnerships at Lightyear.io stated;
“We’re looking forward to working with the London Football Exchange to introduce the global football community to the benefits of blockchain technology as a new and powerful force in the democratization of access to value”.
“The revolution in football finance has begun”.
The London Football Exchange (LFE) — run on cutting-edge blockchain technology — is the world’s first fully-integrated football club stock exchange and marketplace. Through a tokenized marketplace LFE technology will remove friction costs and increase transparency in transactions such as ticketing, merchandise, hospitality and broadcast services subsequently creating new value, benefits, and experiences for fans through the money it is saving.
This new form of financing will give fans straightforward access to own equity in clubs and will also make them contributors to The LFE’s charitable foundations supporting football development projects worldwide.
Lightyear supports global partner activities through the development of applications and infrastructure for the Stellar network, a free, open-source financial protocol that connects diverse financial systems. The company, which leverages the Stellar network, is aligned with Stellar.org’s primary mission of creating an open and public financial infrastructure, enabling more access for individuals, lower costs for banks, and more revenue for businesses.
Stellar.org is a Silicon Valley-based nonprofit organization that supports the Stellar network, a free, open-source network that connects diverse financial systems and lets anyone build low-cost financial services — payments, savings, loans, insurance — for their community.
The Stellar network enables money to move directly between people, companies, and financial institutions as easily as email. This interconnectivity means more access for individuals, lower costs for banks and more revenue for businesses.
Disclaimer: London Football Exchange is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high-risk tolerance. Only participate in a token event with what you can afford to lose. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.