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I’m currently with ii - as I understand it from them, the issue is the brokers can’t find a way to hold them, thus being recommended to go directly. Happy to go through Brokers but I guess we’ll await news as to how they hold them
He probably meant at the time of de-listing. We originally had the option of going certificated.
By asking for tokens now, we are in effect doing that, as I see it.
IMO it will probably be simpler to leave the shares in the brokers' account. It's not as if we can trade them anyway until this gets the green light.
Pete emailed me a month ago to say that I hadn't opted in to receive my tokens.
I opted in months ago !
Replied with the information again and heard nothing since!
No idea what's going on
Nothing from HL.i was toying with emailing them today,but on balance will probably wait a bit longer on the assumption that if they had any substantive news they would probably impart it.
Any updates on people receiving tokens? I was dealing directly with Pete at Naps but all gone a bit quiet now and still not received anything
Too true Albert. Larry Fink (Blackrock) has even stated that BTC is ''a flight to quality''. What Larry wants he gets. Spot ETF by year end me thinks.
Even Jurrien Timmer, Fidelity’s Director of Global Macro said Bitcoin’s risk-reward is “in a different universe”.
What a difference a year makes.
Best of luck all.
Inevitably SBF has secured himself a lengthy stretch.
However , like AI , crypto is here to stay. Whether it's beneficial or otherwise will depend on whose hands it's in.
The bad news was out of the way when SBF was arrested. And Bitcoin's value has since rebounded.
Now it's time for the authorities to do a thorough spring clean. Which will benefit the likes of Algorand/Napster
Hello PureGypsum
Ok, I get it now, that's going to make things a whole lot trickier I guess. Let's hope H&L settle in cash otherwise it's back to the Pera wallet and then try to find a way to cash out.
Best of luck to all
Hi Jambor and Trousers!
I'm afraid you will not be receiving Algorand Tokens.
The tokens you will receive are are called Napster Tokens and are abbreviated to NAPS. The tokens have no current value as there is no market for them. Logically, being owned by Algorand they built on the Algorand chain, which is perhaps where the confusion arises.
Greetings Jambor
As far as I understand it the tokens we may receive are called Algorand and they are currently trading at about £0.079441, down about 73% over the past year. I suppose we should be happy we didn't get them a year ago!!! By market cap they are rated 43rd out of tens of thousands of coins and tokens, so not too bad.
https://www.livecoinwatch.com/price/Algorand-ALGO
For what it's worth the next 'Bitcoin halving' is due around April 24. Historically the cycle high point has occurred about 10 months after the 'halving' and as Bitcoin rises so should most other coins and tokens in the space. My point is if I do get Algorand tokens then I shall certainly hang onto them until around Jan/Feb 25 and then sell.
Hope this helps.
Best of luck to all.
Filled out my forms and sent back last Thursday, fingers crossed all goes smoothly. Do you think when these tokens go live in March, there will be monitory value to them or do you think they will just be used on the platform to buy things, I kinda lost touch with this over the year as I thought nothing would come from it but heres hoping!
The first NFT seems to be available in a prize draw. Seems like entry for the prize draw is a reward for subscribing to some form of white paper. The NFT will allow users some benefits, including early access to various things. I like the graphic design.
Enter for yourselves, or simply have a look at;
thecatisback.xyz
In my case after submitting the forms I received the tokens next day, however that has not been typical. From initial contact to it took three weeks.
Thanks GPH, i will give it a try.
Sorry that didn't copy the email address properly.
ir@napsterfoundation.org I got it from a previous post on here
Tubs,
Copy of email received below. Can't see how to attach anything to the post or would also attach the forms.
Investor Relations
Hi Greg,
We need you to complete the 2 attached forms and then provide evidence of your holdings near the time of the merger (March 31, 2022) in the form of an official statement.
Thanks,
Pete
Hi GPHolding, can you let us know who and what email adress you used to get in contact?
PG could you let us know approx how long it took from submitting forms to receipt of tokens? I got a pretty swift response from Napster with forms for completion (now done).
Thanks very much for that, trousers, appreciated. looks like we will know the options reasonably soon.
Greetings Italian / PureGypsum and all, I sent the following message to H&L yesterday....
''I understand H&L is still working on how to exchange Naps shares for Algorand tokens, is this correct?
I can let you have an Algorand wallet address into which you can transfer my Algorand tokens. Is this possible?
I have heard from other non H&L investors who have gone direct to Pete Wylie CFO at Napster and obtained the forms to claim their tokens and are receiving something in the order of 122.22 Algorand tokens per Naps share. Do you recognize this figure in your own calculations?
Ends
Today I received the following reply....
''The Napster tokens were issued at the end of March 2023. The tokens have an initial lock up period of 12 months from 31 March 2023, which means these tokens can't be traded or valued right now.
Hargreaves Lansdown can't hold crypto tokens on our platform. Your tokens are currently being held in an escrow account overseen by the Napster Innovation Foundation (an organisation formed to distribute the tokens). Napster Innovation Foundation is currently investigated options for token holders, including platforms like HL, that cannot hold the tokens.
Currently, our platform is still looking into options for our clients to be able to move the tokens to their own wallets. When we hear more, we will update you.
Thank you for your patience in the meantime''. ENDS
Hope this helps. All the best and be lucky.
Cheers Italian
I will message H&L and try to find out how they are going to handle this? It's about time!
All the best, be lucky
Hello PureGypsum, that's very helpful, thank you.
For anyone else out there like me who hates doing any banking etc on mobiles (it's a fat finger disaster area) then swerve the Pera wallet. Instead, I can recommend the Exodus desk top wallet. It's relatively very easy to use and you can instantly get a deposit address should we have to accept Algorand tokens. Once the tokens are safely in the wallet I would wait until about December 2024 because this will be about 8 months after the Bitcoin halving when historically crypto prices peak and this should be a good time to sell. You will need to open an account with an 'exchange' like Kraken, Coinpass, Bitstamp etc. Then it's just a case of sending them your Algorand tokens, you exchange them for cash, and then you transfer the cash into your bank.
Hopefully though H&L will settle with Napster for cash which hopefully can then be distributed among us???
Guess for now it's just a case of wait and see although I think I shall email H&L and try to fathom out how they intend to play this?
Best wishes to all, be lucky.
Finally got hold of Pete Wylie (Napster CFO) on Friday - he’s sent me the forms to apply to have to token into a crypto account rather than go through the brokers. I’ll see how I get on
Afternoon trousers.very probably correct.from a personal perspective I've concluded that i would prefer a cash payment i lieu,even if it is at some discounted rate.i doubt i have the necessary facility to deal comfortably with the mechanics of a crypto payment.also i have a very small holding in my drawdown sipp (most were in my own and my wife's HL isas) and in light ion PGs comments earlier about possible tax consequences i would prefer a simple cash receipt.just my personal view of course.
The math is pretty much correct trousers! The wallet I used was called Pera Wallet but essentially yes its an Algorand wallet.