Among the newest batch of offerings is SardineCoin, a digital token backed by “vintage” canned sardines. It’s being offered by MY Sardines, a Luxembourg company that’s betting on the storability and durability of the densely-packed fish, which the company says can last hundreds of years as a collectible. There’s also the Bananacoin, which is pegged to the export price of 1 kilogram of bananas, and the notorious Dogecoin, which has a market capitalization of close to $300 million.
But the CurioInvest-MERJ venture stands out because it’s properly regulated, said MERJ’s Needham.
“The technology is really only half of the story -- the other half is about proper regulation,” he said. “You’re talking about a very well-regulated, well put-together offering that will be listed on a full securities exchange. I might be wrong but I think that’s probably different to someone tokenizing vintage sardines.”
This article was provided by Bloomberg News.