SharpLink Makes Historic Move With Onchain Equity
SharpLink Gaming, Inc. announced on Sept. 25 that it will tokenize its Nasdaq-listed SBET common stock directly on the Ethereum blockchain. The company has appointed Superstate as its Digital Transfer Agent to manage compliant issuance through its Opening Bell platform.
Superstate, chaired by Ethereum co-founder Joseph Lubin, emphasized that the move reflects how blockchain infrastructure can unlock shareholder value and improve efficiency in capital markets.
Lubin stated:
“Tokenizing SharpLink’s equity directly on Ethereum is far more than a technological achievement – it is a statement about where we believe the future of the global capital markets is headed.”
Exploring Secondary Market Innovation
Beyond issuance, SharpLink and Superstate plan to tackle a key frontier in digital finance: compliant secondary trading of tokenized equity through automated market makers (AMMs) and decentralized finance (DeFi) protocols.
This initiative connects with the SEC’s Project Crypto framework, which explores regulatory accommodation for blockchain-based markets. If successful, tokenized equities could offer global access, transparent price discovery, and real-time settlement beyond what conventional exchanges provide.
Strategic Commitment to Ethereum
The partnership extends SharpLink’s ongoing Ethereum-focused strategy. Earlier this year, the company announced an ETH treasury plan, reinforcing its role as a corporate leader in the ecosystem.
Market Reaction to the Announcement
Despite the milestone, investors reacted cautiously. SBET shares fell 7.63% on Thursday, closing at $16.26 after a previous close of $17.58. The decline reflects both the volatility of crypto markets and the experimental nature of tokenized equity initiatives.
