Loeb Smith advises Forkast on merger with CryptoSlam
7 March 2023
Loeb Smith Attorneys is pleased to announce that it has advised Forkast on its merger with market tracker CryptoSlam. Forkast Labs, which is a new data intelligence service formed by the merger, has already launched a series of new non-fungible token indices that aim to capture the health of the digital asset economy in real time.
Sarah Chang, Co-Founder and Chief Operating Officer of Forkast Labs, explained that the main Forkast 500 NFT index aims to be “a proxy of the entire NFT market”, measuring real-time performance across twenty-one blockchains including Ethereum, Solana, Polygon and Cardano. In contrast to traditional digital asset market rankings that primarily rely on data including prices, sales and transaction volumes, the Forkast 500 NFT index “provides a much more holistic and complete view of the overall market”, Sarah said.
The Loeb Smith team was led by Hong-Kong based Corporate and Finance Partner Peter Vas and acted as Cayman Islands counsel to Forkastalongside a leading international law firm in Hong Kong.
Peter commented on the transaction and said: “We are delighted to have assisted Forkast on this transaction. Forkast Labs’ new NFT indices reflects investors’ growing demand for actionable information about the digital asset economy and we are pleased to have advised our client on various complex points of offshore law to bring this transaction to a successful close.”