The London Football Exchange (LFE) has announced that it has partnered with Lightyear.io, a software company that develops applications and infrastructure for the Stellar ecosystem, and will be building the LFE ecosystem on the Stellar network.
The LFE’s goal is to transform fan engagement of professional football. By combining the passion of the global football fan base with the global reach and speed of the Stellar network, the LFE will unlock new possibilities in ticketing, merchandising, broadcasting and fan experiences through the LFE ecosystem, including the LFE Market and LFE Exchange.
Built on Stellar’s blockchain technology, the LFE Exchange will be a stock exchange that will offer members the opportunity to invest in the shares of football clubs. The LFE Market will provide members with the opportunity to partake in the various football club and fan experiences, such as ticketing, tours, player meet and greets, content, broadcast and streaming services, and merchandise. The LFE ecosystem, including the LFE Marketplace and LFE Exchange, aims to connect its members with football clubs to provide new fan experiences that weren’t previously possible. For the first time, fans will have the ability to acquire a stake in their favourite football clubs. The new capital injection that fans will make will enable football clubs to create added value for their fan investors in areas such as squad strengthening, stadium improvements, sporting infrastructure, youth development and marketing strategies.
Ben Leigh Hunt, founding partner of the London Football Exchange, commented: “The LFE’s mission is to bring the football world the best in cutting-edge technological and financial solutions. Together, LFE and Stellar make the perfect match to transform the fan experience while introducing millions of loyal football fans to the benefits of the blockchain technology through speed, inter-connectivity, and efficiency.”
The LFE Market and LFE Exchange are powered through the use of the LFE Token. Additionally, LFE intends to establish a remittance and payment service for its token holders, which will be enabled by the Stellar network.
Director of Partnerships at Lightyear.io, Boris Reznikov stated: “We’re looking forward to working with the London Football Exchange to introduce the global football community to the benefits of blockchain technology as a new and powerful force in the democratization of access to value. The revolution in football finance has begun”.