World Chess has announced a 'hybrid IPO' for 2020 that will see it issue digital tokens before floating shares on the stock market.
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The tokens will grant private investors early ownership of the World Chess shares, as they can either be converted to shares following the IPO or privately traded between accredited investors. Merenzon said in a press release on Friday that the "hybrid IPO" could set a precedent for new technologies to be used more widely in fundraising rounds.
World Chess' IPO plans follow a string of alternative sports broadcasters and gaming platforms who have made their stock public in recent years.
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