People will soon be able to buy Ethereum-based investment tokens for concerts in March and April, laying the groundwork for the introduction of tokenised gold in Hong Kong, according to an industry leader.
Esperanza Fintech Group CEO Dan Ronald Leung Wai-tsun said on Tuesday the initiative would test public appetite for tokenised assets through entertainment before expanding into gold and stablecoin products.
“Tokenised investments or tokenised concerts are to prepare for tokenised gold or stablecoin execution [in the future],” he said. “It’s an investment that the public could see and enjoy.”
Among the first batch of events are two concerts; one featuring Cantopop singer Chris Wong Hoi-kun at the Hong Kong Coliseum on March 6 and 7, and the other by a yet-to-be-disclosed Korean boy band in Malaysia on April 11.
Investment tokens convert a concert’s production costs and profits into small, tradeable digital units on a blockchain. The model allows members of the public to invest in events directly, replacing the need for organisers to shoulder large upfront expenses.
