The deal concerns an investment into Streami Inc, a South Korean blockchain company and the parent company of the Gopax (a South Korean crypto exchange) and Dask (regulated national crypto despositary service). "Issued on the Ethereum blockchain ERC-20 asset-backed tokens represent claims on the future cash flow from the investment," per the Tuesday VNX company statement.

VNX is a Luxembourg-based company launched at the end of 2019 which aims to revolutionise and democratise the marketplace for venture capital investments through the tokenisation of assets on public blockchains. 

Steami co-founder and CEO Junhaeng Lee said, “This digital solution was very useful for fundraising when faced with the new reality brought by pandemic, lockdown and travel bans. With the money raised we plan to bolster our product and marketing to become a leading provider of financial market infrastructure for crypto in South Korea.”

VNX CEO and founder Alexander Tkachenko added that his company believes "in the future of blockchain based digital assets and are happy to be bringing that future closer".