The London Football Exchange is planning to launch a new kind of cryptocurrency especially made for football fans. The platform will offer numerous features such as the ability to meet with players, purchase tickets and book events through third parties.
The goal of the platform is to make it easy for clubs of any size to raise funds via an initial coin offering. Once the clubs have launched their own tokens, they can then be used as an incentive for people to interact with their brands.
The platform’s LFE token also confers some special benefits to its holders. Privleges include special offers, rewards, and discounts on club-related goods and services.
The platform will reportedly allow clubs to utilize their own LFE cryptocurrency tokens for funding. The London Football Exchange will then help the clubs with the design and issuance of the tokens.
The platform states that it is in discussions with over fifty clubs spread throughout the world – including clubs which are in the UK premier league. As an ecosystem, the LFE intends to make it easy for football clubs to raise funds through social and fan experiences.
The London Football Exchange held its pre-sale on 15th January 2018 which ended on the 11th of February.
The public sale started on May 1st and continued until the 4th of August.
71,320,000 USD was raised for a hard cap of 350,000,000 USD.
Four billon tokens were issued.
LFE tokens were sold at a rate of 1 LFE to 0.2 USD.