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 nor offers any ownership in the company (see disclaimer section on cover page) and its purpose is to be used as a means of payment for goods and services if, where and when, accepted. In addition to an exchange for other currencies on any exchange that supports SPYT2/USDT.A security token implies ownership, the share of profits (see disclaimer section on cover page) and must be registered as a security in some jurisdictions, like the United States of America.
What is a Special Purpose Token (”SPT”)?
Special Purpose Tokens or SPTs are non-operating project tokens whose purpose is to identify and purchase a private or publicly traded company, allowing the acquisition target to have a link to the blockchain.
SPATs are also known as blank check companies. When a SPT or a publicly traded company purchases a private company, it is called a reverse merger. A traditional merger is when a private company takes a public company private. SPT’s are similar in concept to Special Purpose Acquisition Companies* (“SPACs’’) but SPTs’ is not registered as a security 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.“
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