British Virgin Islands-Based Company Launched Tokenized Shares Of Elon Musk's Neuralink

The world of cryptocurrencies firmly penetrated into a variety of adjacent markets. Thus, on top of tokenized shares of Tesla (TSLA) that are already available to buy and trade, now a British Virgin Islands-based firm has listed tokenized pre-IPO shares of Elon Musk co-founded Neuralink as well. The platform, backed by enterprise blockchain software company Ambisafe, said users could purchase $10 minimum limit shares without broker commissions. The authorized trading platform said there is “no minimum order limit” on the purchase of Neuralink tokenized shares.

Neuralink is a U.S. neurotechnology company developing ultra-high bandwidth brain-machine interfaces to connect humans and computers. It was established in 2016 by Elon Musk and has already raised $205 million thanks to the Series C investment round from 13 private undisclosed investors. The total investment amount of the company has reached $363 million.

The public round of Neuralink investment is yet to be launched. After SpaceX, this is Elon Musk’s second project, whose tokenized shares are already listed on a decentralized exchange Orderbook. This long-awaited listing has gathered an army of supporters.

Tokenized shares somewhat resemble convertible bonds. They are digital assets that are backed by the actual shares of an underlying company – in this instance, Neuralink at a rate of 1:1. When buying such assets, an investor purchases tokens securitized by equity shares but not the ownership or shareholder voting rights in the underlying equity. Instead, such ownership entails a derivative collateralized by a share of the underlying stock that tracks its performance.