SharpLink Gaming, a leading entity in the iGaming and sports betting sectors, has revealed ambitious plans to tokenize its common stock using the Ethereum blockchain. The company has forged a partnership with Superstate, a financial technology firm, to facilitate the tokenization of its Nasdaq-listed stock (SBET) through Superstate’s Open Bell platform. This move is anticipated to radically influence the future landscape of global capital markets.
Joseph Chalom, co-CEO of SharpLink, underscored the significance of this venture, describing it not merely as a technological advancement but as a profound commentary on the trajectory of financial markets. The collaboration with Superstate positions SharpLink alongside other firms exploring the tokenization of their equities, including Forward Industries, which initiated its own tokenization on the Solana blockchain this week.
Founded in 2019, SharpLink Gaming has reportedly become the second-largest public holder of Ether (ETH), a title it earned after pivoting towards a corporate Ether reserve in mid-2025. Following the announcement of its ETH treasury, the company’s stock witnessed a staggering increase, more than doubling from approximately $40 to nearly $90 within just a few days at the end of May. However, this surge proved to be temporary. By mid-June, the stock price plummeted to around $10 and has since struggled to maintain levels above $40.
In its recent filing with the US Securities Exchange Commission, SharpLink indicated intentions to collaborate further with Superstate to explore how tokenized public equities can be transacted on automated market makers (AMMs). AMMs operate as decentralized exchange protocols that employ smart contracts and liquidity pools to facilitate automatic trading of digital assets, circumventing traditional market mechanisms.
SharpLink’s commitment extends beyond AMMs; the company aims to enable compliant trading on various decentralized finance (DeFi) protocols. This initiative aligns with the SEC’s ongoing Project Crypto innovation agenda, which seeks to modernize US securities regulation and enhance the integration of digital assets and blockchain technologies within established markets.
