Dragonchain incubator project, Look Lateral has announced that their upcoming token will be a security token which will pay dividends to token holders.
Look Lateral is the first European platform for global contemporary art, which will see the transparency and accessibility of art on the blockchain.
Look Lateral CEO Niccolò Filippo Veneri Savoia presented to the audience at Blockchain Seattle by presenting their big announcement:
"[..] The #LOOK token holders will have a daily #dividend based on the transactions hosted on #fimart platform."— LOOK LATERAL (@LookLateral) September 10, 2018
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RSVP • email@example.com - a special #announcement still waiting for you :) #looklateral pic.twitter.com/1sgXp7Uxr3
The live announcement mentioned that $LOOK token holders will be paid daily dividends when holding the tokens. The tokens also represent a share in the company, with a 12 month lock up.
The move means that the $LOOK token will operate a security token. A great move for ICO investors in the project. Look Lateral has been flying under the radar for most of 2018. However, the project is one of Dragonchains early incubator projects and the partnership is set to potentially create the first successful "art on the blockchain" project.