MSX has introduced on-chain pre-IPO share offerings for major unicorns like SpaceX and ByteDance, marking a significant step in tokenizing private equity markets. This move follows Robinhood's pilot of tokenized private equity products in Europe and Hyperliquid's launch of perpetual contracts for companies such as SpaceX. These initiatives aim to lower entry barriers and provide broader access to pre-IPO investments, traditionally limited to accredited investors. The on-chain pre-IPO market is exploring two main paths: perpetual contracts, which offer price exposure without actual equity ownership, and tokenized equity mirrors, which allow investors to hold tokenized equity through compliant structures. MSX's partnership with Republic enables tokenized equity offerings with a minimum investment of just 10 USDT, potentially democratizing access to high-growth unicorns. This development could reshape capital market access by bridging traditional finance with blockchain technology.