Flash Sports & Media signs 12-month deal with MindWave to build FlashChain blockchain network
FLZH•Flash Sports & Media Holdings signed a 12-month software development and technology services agreement with MindWave Innovations to build FlashChain. Consideration includes FLZH common shares, 20% of the total FLASH TOKEN supply and an annual maintenance fee equal to 50% of contract consideration; its aggregate dollar value was not disclosed.
1. FlashChain development agreement
MindWave will build FlashChain to track digital broadcasting rights, video assets, match ticket inventory, digital tickets, sports memorabilia and media-asset transactions. It will deploy a dedicated MindChain Layer-2 subnet, run validator nodes, provide keys and operate the network.
2. Payment terms
Consideration includes FLZH common shares, 20% of the total FLASH TOKEN supply and an annual maintenance fee equal to 50% of contract consideration. The aggregate dollar value of the consideration was not disclosed.
