Special Purpose Token (SPT2)

Abstract

Algae Farm is pioneering a revolutionary disruptive form of tokenization known as Special Purpose Token or “Blank Check Token”.

Utility vs Security Token

A utility token does not imply or offer ownership in the company (see the disclaimer section on the cover page). Its purpose is to be used as a means of payment for goods and services if, where, and when accepted. Additionally, it can be exchanged for other currencies on any exchange that supports SPYT2/USDT.

A security token implies ownership and a share of profits (see the disclaimer section on the cover page), and it must be registered as a security in some jurisdictions, such as the United States of America.

What is a Special Purpose Token (SPT)?

Special Purpose Tokens (SPTs) are non-operating project tokens used to identify and purchase a private or publicly traded company, allowing the acquisition target to establish a connection to the blockchain.

SPTs are also known as blank check companies. When an SPT or a publicly traded company purchases a private company, it is called a reverse merger. A traditional merger occurs when a private company takes a public company private. SPTs are similar in concept to Special Purpose Acquisition Companies (SPACs), but SPTs are not registered as securities to be publicly traded on a stock market or sold privately.

SPT2 IS NOT AVAILABLE FOR SALE TO CITIZENS AND/OR RESIDENTS OF THE UNITED STATES OF AMERICA.