SBET, issued by SharpLink Gaming, Inc. and tokenized by Superstate Inc., is a tokenized public equity that delivers real legal shares of the underlying company as onchain tokens carrying the same economic and governance rights as traditional shares. [S1]

Each token represents a real legal share of SharpLink Gaming, Inc. (SBET) and provides equity price exposure to that underlying security. If the underlying issues a dividend or distribution and eligibility requirements are met, holders receive a corresponding amount. The tokens carry no separate yield mechanism beyond equity price exposure, and holders bear gas and wire fees associated with onchain transactions and settlement. [S1]

The legal issuer is SharpLink Gaming, Inc., an SEC-registered public company, while Superstate Inc. acts as the SEC-registered digital transfer agent maintaining the shareholder registry across book-entry, tokenized, and DeFi holdings rather than as the securities issuer. The token represents a real legal share carrying the same economic and governance rights as a traditional share, backed 1:1 by legal shares held in book-entry at the underlying transfer agent. The product is available to eligible retail and institutional investors in supported jurisdictions, with no accredited or qualified purchaser requirement. Holders convert tokens back to book-entry shares by burning them at a designated redemption address. [S1]

Tokens follow the OpenZeppelin ERC-20 or SPL Token 2022 standards, issued onchain on supported public networks that vary by equity. Shares are tokenized from existing book-entry shares or newly issued via the Direct Issuance Program at or below Nasdaq or NYSE price with immediate settlement, and trade on supported DEXs rather than directly on Superstate. [S1]

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Tokenized stocks

Sharplink earns revenue from performance marketing and affiliate services. Its common stock is tokenized onchain and distributed through Superstate Opening Bell.

Sharplink operates sports betting conversion and affiliate marketing technology, and holds a digital asset treasury. Note that the data shown here covers only the tokenized form of its own common stock.

Sharplink, Inc. (formerly SharpLink Gaming, Inc.) is a publicly listed company (NASDAQ: SBET) held by public shareholders.

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Real-world asset (RWA) issuers

Sharplink

Superstate SharpLink Gaming, Inc. (SBET) is a tokenized share of SBET issued by Superstate through Sharplink, Inc. and distributed through Superstate Opening Bell.

The underlying security is listed in the financials sector in North America.

Each token represents one underlying share and entitles holders to dividends.

The underlying shares have Equiniti Trust Company LLC as transfer agent.

Holders can convert between tokenized and book-entry form via the transfer agent.

Sharplink, Inc. is incorporated in the United States, is offered under an SEC-registered offering, and is supervised by the United States Securities and Exchange Commission.

Holder terms are governed by the law of Delaware in the United States.

SBET is native to Ethereum as an ERC-20 token.

Sharplink, Inc.SBET