What Is London Football Exchange?
The London Football Exchange (LFE) plans to launch a cryptocurrency, which will lead to the creation of a fan-driven football community. This community will allow members to partake in various activities such as tours, meet and greets with players, match day tickets, and certain merchandise from third parties. The LFE plans to use the blockchain to assist clubs to offer their fans better services at a lower cost.
London Football Exchange Loyal Fan Market Vision
The vision of this initiative is to make it possible for football clubs to utilize the token economy for financing. To achieve this, they will give them a tokenized financing option, which will entail token designing and issuance services. The platform claims that it has already started discussions with more than 50 clubs in Europe, USA, and Australia. Discussions include clubs that are in the UK premier league.
The aim is to make LFE a one-stop-shop where clubs of any size can raise capital via an equity sale and offer LFE contributors numerous social interactions and fan experiences. Clubs are encouraged to have some equity via LFE. Besides that, they will need to offer a minimum amount of special offers and unique experience to fans.
Who Is Behind London Football Exchange?
This is a serious project and LFE has already hired an advisory law firm. All legal issues will be handled by CMS, a law firm. According to a partner at CMS, Sam Robinson, the law firm was quite excited to be advising LFE on how to establish a business that might have a huge impact on the football industry with the aid of the blockchain. CMS is a firm that has had a focus on FinTech for some time now. Sam Robinson added that he was excited to be working with LFE, which is at the cutting edge of tech and regulation.
London Football Exchange Services To Be Offered
Some of the engagement services LFE will offer include LFE points. This is a blockchain-powered loyalty platform. Members of LFE will benefit via exclusive offers, special discounts, rewards, and many other incentives offered only to holders of LFE tokens. The rewards increase as the token holder engages more with their clubs and leagues.
For clubs, the LFE tokens will help to get rid of the ancient ticketing technology they use today. These systems usually end up costing them operating fees that range from 5 to 8 percent as commissions.
London Football Exchange LFE Token ICO Details
LFE is going to utilize the Stellar and Ripple blockchain networks to support the issuance of its tokens, and transfers. For the token sale, Bitcoin, Ethereum, and Ripple will be accepted as payment. Bank transfers in Pounds, Euros, USD, Australian Dollars, and Swiss Francs will be accepted as well.
As part of the ITO, LFE will generate 4 billion tokens. There will be 2.4 billion LFE tokens offered at the general sale. Tokens are priced at $0.20. Thus, the end fundraising goal is about USD 350 million. The pre-sale is live and will end in about 10 days. After that, the public sale is going to launch.