Episode Details

This story was originally published on HackerNoon at: https://hackernoon.com/the-tokenized-spacex-fiasco-and-the-future-of-pre-ipo-tokens.
The SpaceX tokenization fiasco exposed flaws in pre-IPO product design, not blockchain. Here's how the industry can build tokenized equities that work.
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The failed tokenized SpaceX IPO wasn't a failure of blockchain, it was a failure to secure the underlying shares before opening orders. Ultan Miller argues that tokenized private markets need to prioritize asset sourcing, legal certainty, and custody before distribution, and outlines two models that could make pre-IPO tokenization more reliable.