LEXIT, a digital M&A marketplace, and Metaverse, a leading public blockchain, announced today they are teaming up to transform the way developers and organizations of all sizes transact IP and whole or partial businesses. Through this partnership, the companies hope to create an efficient and low-cost business environment that connects buyers and sellers and facilitates fast, fair, and transparent deals.
The M&A landscape of today is beset by an ironic problem: despite the incredible growth of the modern tech industry and the flourishing of cutting-edge products and ideas, the marketplace for exchanging these products and ideas is still stuck in the past. Acquiring patents and other assets from another party is a time-intensive and costly process that requires completing burdensome appraisal procedures and handling complex legal requirements.
As a result, larger market players often overpower innovators that are not yet established in their respective market, innovators who do not have sufficient resources to navigate these barriers. Moreover, parties on all sides lose out on unused but valuable intellectual and industrial property that is created during the startup process, which ends up being wasted because it is too complex to find buyers and sell these assets securely.
Through their synergistic new partnership, LEXIT and Metaverse will solve these issues and bring the outdated M&A marketplace into the modern age. With this partnership, the tokenization of intellectual property and business ownership rights is made possible. The LEXIT platform will eliminate the barriers to entry that exist in the current M&A market, while Metaverse will provide tools for LEXIT users to register their assets on the secure and immutable blockchain and transact these assets with self-sovereign digital identities.
LEXIT’s vision of a comprehensive M&A marketplace requires careful consideration of several factors such as speed, cost, transparency, and security. Through their new partnership, Metaverse provides a network with which LEXIT can immediately integrate to optimize their platform for users. Metaverse, which launched in 2017, offers a ready-made blockchain infrastructure with three core functionalities — Digital Identity, Digital Assets, and Oracles — that align perfectly with the needs of a robust digital marketplace.
Digital Assets on Metaverse, called Metaverse Smart Tokens (MST), allow users to conveniently and securely generate and distribute their own tokens at low cost. Anyone from small-time entrepreneurs to large enterprises can use this feature to tokenize their unused Intellectual Property and assets, thus storing them on the immutable ledger of the blockchain. Users can then utilize the LEXIT marketplace to connect with buyers and trade their tokenized assets.
Metaverse not only offers users this convenient mechanism for digitizing value of all types, but its Digital Identity Avatars and forthcoming Oracle intermediaries, called Assessors on the LEXIT platform, bring an additional layer of trust, security, and accessibility to LEXIT’s platform. This makes the LEXIT platform truly transformative. Avatars are self-sovereign identity ledgers that will allow LEXIT users to keep a record of their transactions and build up a reputation by interacting with other LEXIT users and Avatars in the Metaverse ecosystem. Oracles are Avatars that act as established intermediaries, working to provide additional verification, expertise, and services to transactions throughout the marketplace.
Through this combination of Avatars and Assessors (Oracles), LEXIT users can gain “digital credit” over time, becoming reputable actors in the LEXIT marketplace, and can rest assured that they are paying or receiving a fair price for transacting property. This ecosystem promotes making valuable contributions to the network and puts power back in the hands of individuals, as users that complete verified transactions, independent of their financial resources or existing assets, will gain credibility and influence as the marketplace develops. Moreover, the transaction process is completely streamlined: tokenized assets can be sent to a company or developer’s Avatar address, and ownership is fully handed over once the terms of a trade are finalized through Metaverse’s Built-in Smart Contracts (BISC).
By establishing their platform on the immutable ledger of the Metaverse blockchain, LEXIT welcomes startup owners, IP buyers, and business assessors of all backgrounds to join their open community and participate in secure, trust-free, and efficient M&A.
“LEXIT and Metaverse both share a fundamental appreciation for blockchain technology. This partnership will allow our development teams to share invaluable insights which will help us to explore the possibilities of blockchain application in the M&A and Digital Identity industries.”
“LEXIT and Metaverse are alike in their drive to provide users with accessibility. We want our users to hold the power of blockchain, and LEXIT wants to increase the number of people that can benefit from M&A. We both share the ideals of the democratization of blockchain services to allow this innovative technology to break down barriers and provide an efficient solution for businesses and individuals alike.”