Our company LEXIT launched its ICO yesterday with the LXT token sale, offering the chance for early entrance into a platform which seeks to change how businesses buy and liquidise assets and how you will exit your startup.

Mergers and acquisitions make up a global industry that is worth nearly $5000 Billions per year and over the past two years we’ve worked on developing a platform to disrupt it. The LEXIT solution means that M&A deals will be concluded up to four times faster, at about a quarter of the traditional costs not to mention much safer due to Blockchain technology we build it upon.

Our marketplace will also be the first ever to allow intellectual property to be traded freely and efficiently online across the world.

The concept was developed by me and my co-founders Deniss Raider and Maija Majamäki after we tried to sell IP from a previous startup about two years ago.

My Co-Founders Maija, Deniss and me

We realised that we had this IP tech from a previous startup we did, and we thought this is pretty viable, someone can use it – we should sell it to somebody. Then we realised quickly that finding a buyer would depend entirely on who we know which is severely limiting.

I thought: ‘Why isn’t there a place I could sell this tech, or even better exit my startup?’ – I found it incredible there is no marketplace tailored to the needs of entrepreneurs, especially in the tech space.

So LEXIT connects sellers to buyers through a search-optimised marketplace – powered by blockchain technology and Artificial Intelligence – where bids can be placed, value estimates given, progress and transaction volumes protocolled on tamper-proof ‘smart contracts’.

I see the platform as being predicated largely on trust – a key aspect of mergers and acquisitions and sometimes why they are slow, costly processes – and I believe that it can remove any possibility of a misunderstanding.

Because you have two parties, strangers essentially, dealing over the internet often with millions on the table. Both sides want to make sure everything is legitimate, safe, and that nobody can be screwed over.

Through blockchain anything related to financial transactions is obviously very safe. Everything is protocolled into the ledger so there’s no misunderstanding over what happened, when, and who did it. The immediacy of the transactions are very good also; you don’t waste any time.

The application to intellectual property gives LEXIT a wide scope and I think gives us almost limitless reach. For example, institutes of higher education often carry out actionable research yet they usually lack the resources or contacts to use it or sell the intellectual property.

The crazy thing with universities is that most of the IP they create is basically gathering dust on shelves. With some of those inventions the students or professors will start a company but this is a rare case. We can help them to liquidise their IP and bring things to fruition.

The LEXIT token sale started on June 19 and finishes on July 27 at 11:59 UTC. We’re releasing 50% of the total supply to market because we believe in putting power in the hands of the entrepreneurial community.

If this piques your interest then get involved today!

www.lexit.co