Kryptonite 1 Plc
(“Kryptonite1” or the “Company”)
Kryptonite1 is pleased to announce that the Company has completed its first investment into an Initial Coin Offering (the “ICO”) of SingularDTV (“SNGLS”). The Company has invested £5,605 into the ICO held on 2 October 2016, acquiring 462,931 SNGLS tokens. The tokens represent ownership in a unique decentralised organisational structure called a Centrally Organized Distributed Entity (CODE).
SingularDTV is a project put forward by Consensys, the largest decentralised application producer in the blockchain space. Consensys is building a film, music and TV content distribution platform, using smart contracts hosted on the Ethereum blockchain. The aim for the project is to reduce the role of 'middlemen' as people try to access digital content online. Using smart contracts, people who view or listen to content through the platform will pay the content creators directly with cryptocurrency. This allows participants to reward their favourite content creators directly, and the content creators receive more money for their work as less is taken in fees.
The SNGLS tokens confer holders with a claim to a portion of revenues and IP to show content. They will not have voting or governance rights, but they may have additional rights in the future. The SNGLS tokens are freely tradable on the blockchain platform.
The directors of the issuer accept responsibility for this announcement.
Kryptonite 1 Plc:
Tel : 01624 676716
Email : [email protected]
ISDX Corporate Adviser
Peterhouse Corporate Finance Limited
Fungai Ndoro and Mark Anwyl
+44 (0)20 7469 0930