A Floki exchange-traded product is set to go live in Europe in early 2025, a project developer told CoinDesk.

Meme-turned-utility project Floki is working with an unidentified asset manager to develop an exchange-traded product (ETP) tracking its FLOKI token that could be available to investors in Europe early in the new year, one of the developers told CoinDesk.

If approved, FLOKI would be the only meme token other than dogecoin (DOGE) with an institutional product in Europe.

“We’ve been actively working with a respected Asset Manager and an ETP Issuer to launch a Floki ETP (Exchange-Traded Product) for quite a while now, and after months of due diligence and painstaking effort, we’ve been told that the Floki ETP is on track to go live in early Q1, 2025,” lead developer B told CoinDesk in a Telegram message on Wednesday.

The developers as seeking approval from the Floki DAO community to provide early liquidity to the product when it goes live. The vote runs for 48 hours and will end at 11:00 UTC on Dec. 27.

They are seeking approval to allocate part of the FLOKI required for the ETP from a treasury wallet that holds 16 billion tokens, worth just over $2.8 million at current prices. Tokens in that wallet were purchased from the open market over three years after the passage of another community vote.

If the proposal is approved, the FLOKI tokens would provide liquidity for the ETP while remaining Floki’s property and could be withdrawn if there is enough third-party liquidity in the ETP.

“The Floki ETP is currently in an advanced stage and will become tradable on the SIX Swiss Exchange, the largest stock exchange in Switzerland and the third-largest in Europe,” B said. “When it goes live, the Floki ETP will allow institutional investors, regulated entities and retail investors to get exposure to FLOKI in a regulated way.”

B said the team could not disclose further specifics about the ETP due to non-disclosure agreements, such as opening prices, fund structure and institutional partners.

FLOKI is up 1.1% in the past 24 hours, in line with the broader crypto market.

The post Floki on Course for Europe ETP as DAO Floats Proposal to Provide Early Liquidity appeared first on Crypto Insider.

Ecosystem tokens and its flagship Valhalla game will be widely featured on stadium screens and as uniform sponsors, boosting the project’s visibility as part of an initial one-year contract.

Meme coin Floki will feature its FLOKI token and Valhalla game on various English Premier League properties as part of an initial one-year contract to help boost visibility for the $1.2 billion capitalization token.

The English Premier League sit on the top tier of England’s football pyramid, and features twenty local teams. It is the most-valued football league as per sports data site Transfermarkt.

Floki has been steadily trying to move away from its meme status, building the metaverse game Valhalla, real-world asset tokenization platform TokenFi, and introducing staking and banking features to boost appeal for the FLOKI token.

FLOKI tokens will be the cryptocurrency partner for Nottingham Forest. Their upcoming game Valhalla will feature on the back of the Sunderland AFC jersey, and will additionally be displayed as on-screen ads throughout all league games.

“It is a potential multi-year agreement and a minimum one-year/season deal,” a Floki team member told CoinDesk in an interview. “Regarding the benefits to Floki holders, there are many such as increased brand awareness & recognition as well as the exposure to our ecosystem and community.”

The team did not reveal specific costs for the various sponsorships, citing deal confidentiality. However, head of marketing Sabre told CoinDesk that there was no bidding process as the team had “direct contacts” – circumventing a key step in such deals.

Crypto teams often sponsor sporting events and notable stadiums to boost the visibility of their projects. In 2021, exchange Crypto.com paid $700 million to gain naming rights for the Staples Centre in Los Angeles. Defunct exchange FTX signed multiple hundred million deals to place its brand on sports centers and avenues worldwide, and crypto project Terra signed a five-year contract worth $40 million, with the Washington Nationals in 2022.

It is unclear, however, how much these partnerships eventually help the brands and influence token prices. But Floki’s Sabre remains upbeat on the prospects.

“Unlike many exchanges and large projects that invest heavily in securing partnerships, we achieve exceptional value by spending a fraction of the cost. Our direct relationships with well-established and highly respected organizations enable us to maximize our impact in the blockchain space.”

“As we’ve seen with similar timing and partnerships from top exchanges, we expect this exposure to capture retail interest as we approach and enter 2025,” they added.

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