Hong Kong firm unveils crypto-based concert funding model, marking the city’s latest step in fintech innovation and gold tokenisation
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.
For instance, prospective investors can buy tokens linked to the Chris Wong concert using Hong Kong dollar bank transfers.
