Beginning October 30, 2020, Japanese investors will be given the opportunity to invest in SBI e-Sports. This newly formed subsidiary of SBI Group (SBI), which focuses on the development of competitive online gaming, will be hosting a security token offering (STO) that will see the sale of equity shares within the company.
In this STO, SBI Group indicates that its subsidiary, SBI Securities will facilitate the issuance of 1000 common stock shares in SBI e-Sports. This will be done through the security token platform, known as Boostry, while SBI Holdings acts as the underwriter for the event.
Shares are expected to be sold at 50,000yen ($472USD) each and made available beginning October 30, 2020.
SBI has provided the following details/specifics regarding the upcoming security token offering.
e-Sports & Boostry
SBI e-Sports was formed mere months ago in June, 2020. As a subsidiary of SBI Holdings, SBI e-Sports was launched with a mission of ‘creating a new culture of esports’. The company recognized that younger generations are increasingly immersed in digital culture, and looked to both, facilitate and capitalize, on this. SBI Holdings specifically noted that it intends to leverage an industry boasting a 450,000,000 viewership to help varying economies.
“SBI e-Sports will contribute to the revitalization of regional economies by helping local governments and regional financial institutions attract esports events.”
To learn more about e-sports, and events occurring within the sector, make sure to peruse gaming.net.
The platform through which e-Sports is hosting its STO is Boostry. Through utilizing blockchain technology, Boostry facilitates the issuance and trading of security tokens. While initially a platform born solely of Nomura, this changed in July, 2020, when SBI Holdings acquired a 10% stake in Boostry. This equity acquisition in Boostry further underscored the company’s initiative to develop services for the new generations.
For SBI Group and its various subsidiaries, this event may mark just the beginning of its foray into security token offerings. The company notes in its communications that moving forward, it is considering developing a service for other companies looking to host similar events.
Furthermore, the company indicates that it intends to tokenize various other assets itself moving forward. It specifically notes real estate, art, and content copyrights – all asset classes often associated with the burgeoning security token sector.
Founded in 1999, SBI Group is based out of Tokyo, Japan. This conglomerate is comprised of various subsidiaries, which services various industries such as digital securities, bio-tech, FinTech, and more. Notably, one of these subsidiaries, SBI Holdings, is a member of the Japan Security Token Association.
CEO, Yoshitaka Kitao, currently oversees company operations.