Staramba SE (XETRA: 99SC), listed in the General Standard, has decided to issue its own digital currency for its social VR network STARAMBA.spaces. With its own brand currency “ROYALTY”, which is based on blockchain technology, STARAMBA SE can profit from the expected growth of Virtual Reality (VR) due to the extreme scalability of its revenues.
Christian Daudert, CEO of Staramba SE, expects that ROYALTY will contribute to the global positioning of STARAMBA.spaces as the market leader in virtual reality: “ROYALTY is a groundbreaking innovation for our customers, partners and investors for three reasons:
In order to ensure a functioning currency and an additional value of ROYALTY in the long term, especially in exchange for specific products and services on STARAMBA.spaces, ROYALTY is issued via the Leondrino Exchange (so-called ILO). A token design that is scalable to the development of STARAMBA.spaces, the growing number of users and the trading behaviour of investors counteracts pure speculation. Leondrino Exchange pursues the regulatory recognition of BaFin in Germany, SEC in the USA and FinMa in Switzerland.
The introduction of ROYALTY is to take place gradually. The launch is the creation of up to 500 million tokens based on blockchain technology, which are then converted into coins. A portion of the currency volume is to be offered to selected investors in advance at discount conditions. The aim is to issue ROYALTY after its approval for public trading via the Leondrino platform. Staramba SE will announce details on application cases and the market launch of ROYALTY on 28 November 2017 at a press conference on the margins of the German Equity Forum in Frankfurt.
“ROYALTY opens the door to a worldwide launch of STARAMBA.spaces. To this end, the recognition of the tokens by the supervisory authorities of the target markets at the start of the public issue and trading is just as important for the acceptance of ROYALTY by consumers and investors as the acceptance obligation of the currency for own products and services. Therefore, we do not plan to issue tokens and coins with conversion right for shares of Staramba SE. ROYALTY, as the currency to be used for payments, is an instrument that develops independently of the share price,” says Christian Daudert, emphasising the advantages of ROYALTY.