Bitfinex Securities raises $50M for tokenized nickel trading via ALKN token

Bitfinex Securities is raising $50 million through a tokenized security backed by nickel wire. The ALKN token represents limited partnership interests in Alkemya Metacore SCSp, a vehicle whose crown jewel is roughly 7 million linear meters of ultra-pure nickel wire sitting in a Swiss vault. That inventory has been independently valued between $1.6 billion and $1.64 billion. What the ALKN token actually is Each ALKN token is priced at $1.00, but the offering documents peg its intrinsic launch value at approximately $2.05 per token. The total supply is capped at 800 million tokens, and the minimum capital raise threshold sits at $50 million. Investors need to put up at least $120,000 to participate, which firmly places ALKN in institutional and high-net-worth territory. The return structure resembles a traditional private equity waterfall. Investors receive their capital back first, then a 6% preferred annual return before any surplus profits get split 80/20. The underlying asset, roughly 7,026,905 linear meters of 99.99% pure NP1-grade nickel wire, is stored in a secure Swiss facility. Independent valuation puts the hoard’s worth north of $1.6 billion. The tech stack and trading ven...