Beyond, Inc. Launches Tokenized Digital Security for buybuy BABY on tZERO Platform
MURRAY, Utah—(BUSINESS WIRE)—Beyond, Inc. (NYSE:BYON), the parent company of Bed Bath & Beyond, Overstock, buybuy BABY, and a portfolio of blockchain assets, has announced the launch of a new digital asset security offering on the tZERO platform. The tokenized security, named 'BABY,' is linked to specific intellectual property from buybuy BABY, one of Beyond, Inc.'s subsidiaries. Marcus Lemonis, Executive Chairman and Principal Executive Officer of Beyond, Inc., expressed enthusiasm about the initiative, stating, "We are thrilled to see Zion Peaks, our subsidiary, introduce this innovative offering. It marks significant progress in our strategy to leverage blockchain technology and capitalize on the growing interest in digital securities." The BABY digital asset security represents a share of the revenue generated by certain buybuy BABY trademarks and licenses. By tokenizing these assets, Beyond, Inc. aims to make them more accessible to a broader range of investors, including those who might not typically have the opportunity to engage with such high-value intellectual property. Tokenization allows the intellectual property to be divided into smaller, tradeable units, which can be bought and sold on the tZERO platform. Zion Peaks, Inc., the entity responsible for handling Beyond, Inc.'s blockchain and digital asset activities, has been working diligently to bring this project to fruition. The company's efforts align with the broader trend of using blockchain technology to democratize investment opportunities and streamline financial transactions. "The launch of BABY is a testament to our commitment to innovation and growth," said Jon Nielsen, President of Zion Peaks, Inc. "By leveraging the tZERO platform, we are providing a secure and transparent environment for investors to participate in our success. This is just the beginning, and we are excited to explore further possibilities in the digital asset space." The tZERO platform, known for its robust security and compliance measures, will facilitate the trading and management of the BABY token. This ensures that investors can trust the integrity and safety of their investments, a crucial factor in the rapidly evolving world of digital securities. Beyond, Inc.'s move into tokenized assets demonstrates the company's forward-thinking approach to business and finance. In an industry often criticized for lagging behind technological advancements, Beyond, Inc. is setting a precedent by embracing blockchain and digital securities. This step could potentially open up new avenues for capital raising and investor engagement, benefiting not only Beyond, Inc. but also other companies looking to explore similar innovations. The BABY token is set to go live on the tZERO platform in the coming weeks, following a thorough review and compliance process. Investors interested in participating should keep an eye on the platform's updates and Beyond, Inc.'s official communications for the exact launch date. This launch follows the success of Beyond, Inc.'s previous tokenized real estate offering, which highlighted the potential of blockchain technology in creating new investment vehicles. The company's continued exploration of digital assets underscores its strategic vision to stay at the forefront of technology and finance integration. "With the BABY token, we aim to create a new standard for how companies can engage with their intellectual property and investor base," Lemonis added. "This is not just a financial product; it is a significant milestone in our journey to redefine traditional business models and embrace the digital age." As the marketplace for digital securities grows, Beyond, Inc.'s initiative with the BABY token is expected to attract attention from both retail and institutional investors. The company's track record in pioneering tokenized offerings and its robust lineup of well-known brands position it as a leader in this emerging sector. In conclusion, the introduction of the BABY digital asset security on the tZERO platform represents a bold step forward for Beyond, Inc. and sets a new benchmark for how companies can utilize blockchain technology to unlock value in their intellectual property. This move is likely to influence other businesses to explore similar opportunities, further driving the adoption and evolution of digital securities.
