10 Unique Ways Cryptocurrencies are Being Used
Table of Contents Over recent years, cryptocurrencies have rapidly gained popularity with traders as an investment option. Now, as digital
“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 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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