LONDON, Aug. 12, 2021 /PRNewswire/ -- In a monumental move, the St Kitts and Nevis Patriots – a cricket team in the Caribbean Premier League – has partnered with a fan-first sports platform developed on blockchain known as Ragefan. The partnership involves a multi-year strategic collaboration that will boost fan engagement by launching fan tokens that will offer supporters exclusive content, rewards and experiences. The tokens will be made available on Ragefan's "Fanpad" for holders of $Rage.
The St Kitts and Nevis Patriots will become the first team in the Caribbean Premier League to launch fan tokens along with NFTs – a non-fungible unit of data stored digitally. The team's openness to digital assets reflects the country's broader commitment to technological advancement – a leading reason why the islands have become a popular destination for tech investors and entrepreneurs.
Recently, the dual island nation became one of the first in the Eastern Caribbean to pilot a digital currency known as DCash. St Kitts and Nevis also passed a Virtual Assets Bill in 2020 to enable citizens to trade in assets like cryptocurrency in a simplified and straightforward way. These measures and initiatives have attracted foreign investors to become citizens on the island, particularly through St Kitts and Nevis' Citizenship by Investment (CBI) Programme.
Established in 1984, St Kitts and Nevis pioneered the CBI industry when it launched its programme three decades ago. Today, it is the longest-standing programme of its kind and has been hailed as a 'Platinum Standard' brand within the investment migration market. This, coupled with the islands' banking-friendly approach to assets like cryptocurrency, has contributed to a growing financial services sector.
"While small in size, St Kitts and Nevis has a global outlook that appeals to astute investors," says Micha Emmett, CEO of CS Global Partners, an investment migration firm specialising in citizenship solutions. "Whether it's revolutionising the CBI Programme or embracing digital assets, the country is undeniably forward-thinking."
The programme confers second citizenship onto successful applicants who can make the required investment, pass the necessary security checks and demonstrate a clean source of funds. Once gaining citizenship, investors achieve visa-free or visa-on-arrival to nearly 160 destinations, alternative business prospects and the ability to pass citizenship down through descent, thus securing their legacy for generations to come.