Minority Investment marks Digital Asset Holdings' First Application of Technology for Securities Issuance
NEW YORK, September 9, 2015 -- Pivit®, the global interactive marketplace of public opinion that produces real-time probability data on outcomes of world events, and Digital Asset Holdings, the distributed ledger software provider, announced today that a portion of Pivit’s latest funding round has been issued utilizing distributed ledger technology. This transaction marks the first successful securities issuance facilitated by Digital Asset.
The capital investment comprises part of a nearly $5 million funding round for Pivit, scheduled to close this month. Proceeds will support the growth of real-time data and gaming partnerships across Pivit’s politics, sports and entertainment verticals. The Company will soon be announcing its first major media partnership, which will extend across global politics with a focus on the 2016 U.S. Elections.
“Pivit leadership has always been on the leading edge of financial technology innovation, and we are excited to use Digital Asset’s software to create a more efficient, cost-effective and secure way of settling financial transactions,” said Pivit Director and Co-Founder Greg DePetris. “Blythe Masters and the Digital Asset team are positioned to bring together a wide variety of constituents from the financial community, and we’re excited to be in a position as a company to take advantage of the efficiencies being created through the institutionalization of blockchain technology.”
In partnership with secure wallet platform provider Case, and blockchain security company Elliptic, Digital Asset ensures that the digitally issued securities always remain under the full control of Pivit and its investors.
“Digital Asset is proud to have provided the technology to permit Pivit and its investors to take advantage of the efficiency, speed and security of issuance of a private security on the blockchain,” said Blythe Masters, CEO of Digital Asset. “The issuance is an important milestone in demonstrating the potential of blockchain technology.”
Pivit is the global marketplace of public opinion that directly connects people with content by asking the ultimate question: “What do you think will happen next?” Players interact in real-time as live events unfold by forecasting how the chances of something happening will change. Proprietary data science services support markets that encompass political contests, sporting events, financial markets, reality programming, weather and other events with broad public interest. The Pivit platform is delivered as a native or integrated platform for digital and broadcast media partners, designed to increase the value of content by actively engaging audiences with the information they are consuming. As a byproduct of global consumer engagement, Pivit also delivers a first of its kind real-time public sentiment data feed, available as a subscription service for qualified institutions and media partners.
“Pivit represents a new form of engagement that can dramatically impact large market segments, including digital media, polling, gaming and data analytics,” said Howard Edelstein, Pivit investor. “Digital Asset is poised to have a similarly profound impact on the financial services industry. I’m happy to join so many other supporters from the finance, media and investing communities in seeing these two companies continue to innovate.”
The securities sold have not been registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and may not be offered or sold in the U.S. absent registration or an applicable exemption from registration requirements of the Securities Act and applicable state laws.
This press release does not constitute an offer to sell any securities or a solicitation of an offer to purchase any securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state. The digitally issued securities are a limited demonstration of the underlying technology and no transfer or secondary market trading is permitted.
Pivit is a global interactive gaming platform that combines data science and news with crowd-based public opinion to produce changing real-time odds on the outcome of events. Founded in 2013 by the minds behind InTrade, Pivit seeks to engage millions of people worldwide in real-time prognosticating on the outcomes of political contests, sporting events and key events happening around the globe. Live odds will change every second as the public weighs in on the increasing or decreasing chance for a given market. Players compete for points, rewards and status as they properly forecast the outcomes of world events. For more information: http://www.pivit.io/
ABOUT DIGITAL ASSET HOLDINGS
Digital Asset Holdings is a technology company that brings 21st century technology to existing financial infrastructure. Digital Asset develops technology that aids efficiency, transparency, compliance and settlement speed using cryptographic, distributed ledgers. The company operates offices in New York, Tel Aviv and Budapest. For more information: www.digitalasset.com
Digital Asset: email@example.com