The team at blockchain based betting platform, ZenSports, has announced the commencement of dividend payouts associated with their distributed ‘SPORT’ security token. These payouts are to be doled out on a quarterly basis, with the first occurring in early October, 2019.
ZenSports was one of the first companies to successfully host an STO, as accredited investors outside of the Unites States purchased these tokens in late 2018.
ZenSports CEO, Mark Thomas, took the time to share his thoughts on this announcement. The following is what he had to say on the matter.
“As a decentralized platform, cryptocurrencies are at the heart of our philosophy of how we believe the world will eventually manage all securities and streamline utility payment functions. We saw that there could be a better way for private companies to provide returns to investors other than simply having to wait for an IPO or M&A event in 7-10 years. Security tokens offer a streamlined way for doing that. Yes, we also have a traditional stock structure for investors and employees, but the notion of a security token as a means to provide investment returns is near and dear to us, and we believe it’s the future of securities. That’s why we’re super excited for today’s announcement.”
SPORT vs SPORTS
In order to operate with high levels of efficiency, ZenSports makes use of their very own utility token, known as ‘SPORTS’. This blockchain based asset allows users of the platform to quickly, and securely, complete transactions on the platform, in addition to acting as the foundation of the ZenSports loyalty program.
This utility token should not be confused with a previously released token known as ‘SPORT’, by ZenSports. While ‘SPORTS’ facilitates platform functions and acts as a utility token, ‘SPORT’ is structured as a security token. This security token represents equity shares within the company itself, and entitles their holders to regular dividends garnered from company revenue.
One of the interesting features within the ZenSports platform, is the ability to allow users to create their own bets. Since transactions take place on a peer-to-peer basis, through use of blockchain, makers and takers of bets can rest easy that funds are always secure.
Bets created can be as simple, unique, or complex as one likes. ‘Does anyone want to bet that Pascal Siakam will continue his ascent towards stardom, and win MVP this coming NBA season?’
ZenSports is a San Francisco based company, which was founded in 2016. The team behind ZenSports has developed a peer-to-peer marketplace, tailored around online sports betting. Development and use of the mobile-based platform is made possible through the use of, both, the utility and security tokens distributed by ZenSports.
CEO, Mark Thomas, currently oversees company operations.
In Other News
Blockchain and online betting platforms have long been discussed together, as each can benefit from the other. We recently took a closer look at EZ365, a young company looking to utilize blockchain for an online casino, exchange, and educational platform.
The post ZenSports to Begin Issuing Dividends to ‘SPORT’ Holders appeared first on Securities.io.