Joseph Lubin, co-founder of Ethereum and head of ConsenSys, has stirred speculation about the future of SharpLink (SBET) after dropping a cryptic hint on social media. The message, shared in response to a request for SBET tokenization, left the door open for a potential crypto token tied to the company.
According to Lubin, the company is working on a decentralization strategy. He mentioned that in the near future roadmap of SharpLink, they plan to protocolize their already existing services, which in most cases need a native token.
SharpLink Gaming, also known to watchers as the “ETH MicroStrategy), has drawn interest due to its possessions of nearly $500 million of Ether. The firm provides exposure to the stock market to Ethereum in the form of its SBET listing on NASDAQ, a similar step to what MicroStrategy did with Bitcoin in connection with its business.
Although no immediate plans for an SBET token have been revealed officially, when asked about which products of his leadership could be supported by native tokens, Lubin highlighted that the answer was everything. Importantly, he said any such tokens would exist as a part of a larger, interconnected governance system.
Lubin’s SharpLink Comments Spark Investor Curiosity Amid Growing ETH Holdings
The short yet hinting statement of Lubin, namely, so much more, was interpreted by many members of the crypto space as an indication of what is yet to come. The recent Ethereum (ETH) purchase and the place that SharpLink holds in the Web3 realm have done nothing but pour gasoline on the speculation.
At the moment, the SBET stock of SharpLink is trading at $9.21 in pre-market after being extremely volatile. The stock is still under monitoring as the company has an ETH-oriented orientation, even though it dropped by 71%.
Meanwhile, unrelated tokens named SBET have emerged on a number of blockchains. Lubin clarified that none of them are affiliated with ConsenSys and asked investors to be careful of unofficial projects.
LINEA and DIN Tokens Set to Launch Ahead of Any Official SBET Cryptocurrency
Lubin also described a staged token launch strategy on other ConsenSys-supported projects. The Ethereum Layer 2 protocol, known as LINEA, is likely to introduce its governance token first. Subsequent to that, DIN, a decentralized infrastructure service (the successor of Infura), will launch its token as well.
The move is part of a broader effort by Lubin to initiate governance and utility tokens throughout his ecosystem. Though no confirmation of an SBET token has been forthcoming, the company’s eyes are still firmly focused on the next move.
The crypto community are keeping a close eye on the developments of SharpLink as Lubin scales his Web3 endeavours. An SBET-linked token launch in the future would be one of the first steps in merging conventional equity with blockchain-based finance.
