FTX is one of the largest digital asset exchanges in the world. Famous for listing tokenized stocks of non crypto companies on it’s exchange. Some of the tokenized stocks listed on FTX are TESLA (TSLA), APPLE (AAPL), GOOGLE (GOOGL), NETFLIX (NFLX) AND FACEBOOK (FB).
Now the exchange has launched another tokenized asset Airbnb (ABNB) on the eve of it’s highly anticipated IPO on Nasdaq.
The trading pair ABNB/USD has received trading volume of $2,44,910 at the time of writing and is currently trading at $80.785, up 34.95% from it’s launch price of $60. This data is sourced from FTX website.
Acc. to reports, Airbnb first planned to price its shares in the range of $44- $50 each but now, it has raised the prices to $55-$60 apiece. This would boost Airbnb’s fully diluted valuation from $35 billion to $42 billion.
As it is a pre IPO listing, ABNB’s performance is linked to the market capitalization of Airbnb’s stock at the end of its first public trading day. At the end of the first trading day, these derivative contracts will automatically roll over to Fractional stocks contracts with respective Airbnb stock.
Further the exchange says, If Airbnb stock does not list and trade publicly by March 9, 2021, FTX reserves the right to roll back trades on its ABNB product.