Tokenization allows to buy shares before anybody else does, in fact before shares become available to public. Ambisafe intends to do it with stock of SpaceX. The mission to Mars did not launch yet, the IPO is in planning only, yet tokenized share of SpaceX will launch before the underlying original shares. This is what our Chief Editor discussed with Andrii Zamovsky, Ambisafe CEO:
Q1) Tokenized stock of SpaceX will surely be in demand, as we recently saw with digitized shares of Tesla, Facebook and Google by DX.Exchange. Does the initial interest confirm your expectations?
So far everyone we have spoken with has been very interested in the project. It is a very unique offering, and people are excited to see how blockchain might add value to buyers and sellers on the secondary market for private equity.
Q2) Who may buy the tokenized SpaceX and who cannot? Are there any limitations?
Generally most of the developing countries are allowed to participate and more regulated countries, like the United States, are restricted.
We are continuously updating the list of countries that are allowed to participate based on changing regulations and regulatory filings. Please refer to our website for the most recent version.
Andrii Zamovsky, Ambisafe CEO
Q3) At present, the equity of SpaceX is in private hands. What is it then you offer now?
Yes, for now SpaceX is a private company, so it is not currently on the US stock exchange. That means that the only way to purchase it is through a secondary market for private equity. During its last round of funding, SpaceX was valued at $169 / share, however, the secondary market for private equity would involve some markups and is negotiated on a one-to-one basis. There are also usually very high minimums for these purchases with direct share purchases starting at $100K and derivatives starting with $20K minimums. In comparison we offer economic interest in 1/10th of a share at about $30, with a minimum purchase of about $100.
Q4) How many SpaceX shares do you aim to purchase for further tokenization?
The number of SpaceX shares we will purchase will be equivalent to the amount of economic interest purchased by token buyers.
Q5) What you aim to sell is called UPSX tokens. What are they? Please give us details.
USPX is a blockchain-based share of our fund Unicorn Equities, which will own economic interest in SpaceX through a contract for profit of shares with a SpaceX shareholder.
6) Do I understand it right that you want to sell the tokens before SpaceX goes public and once its shares are available for purchase, you will buy them and disgribute to your investors. If so, how to protect investors into your tokens against what may happen with this discrepancy in time?
Not quite. We are selling the tokens in order to sign a contract for profit of shares with a current SpaceX shareholder. This means that we will own all economic interest in the SpaceX shares equivalent to the number of tokens we sell. We have a signed letter from our partner US Capital Global which shows that they have secured a buyer for us as soon as we complete the sale.
Q7) Do you plan to sell these tokens directly to investors or do you plan to list them on trading platforms and/or cryptoexchanges, such as Coinbase?
We will sell the tokens directly to investors and list them on trading platforms. We have already arranged to list the tokens on our decentralized trading platform Orderbook, as well as Vertex.Market and Quantreq. Moonbase.exchange will also be offering futures contracts for the tokens.
Q8) Once I buy the UPSX tokens, can I then change them to shares by SpaceX, once it goes public?
Once SpaceX goes public token holders will experience a cashout event. They will receive cash, in the form of stable coins, proportional to the value of their USPX tokens. The token value, will be determined based off of the new price of SpaceX public shares.