TORONTO--(BUSINESS WIRE)--Tokens.com Corp. (NEO Exchange Canada: COIN)(Frankfurt Stock Exchange: 76M) (OTCQB US: SMURF) (“Tokens.com” or the “Company”), a publicly traded company that invests in revenue-generating crypto and blockchain assets linked to Decentralized Finance (“DeFi”), Non-Fungible Tokens (“NFT”) and metaverse real estate, is pleased to announce that the Company has closed its purchase of a 50% stake in Metaverse Group.
Tokens.com issued two million common shares at an issue price of CAD$0.84, valuing the acquisition at CAD$1,680,000, making it one of the highest value equity investments ever in a specialized Metaverse real estate company. Tokens.com received twenty-five million shares of Metaverse Group for its 50% ownership position.
Metaverse Group is one of the world’s first virtual NFT based real estate companies and owns an extensive portfolio of virtual NFT real estate properties in major blockchain-based Metaverses including Decentraland, Somnium Space, The Sandbox, Cryptovoxels and Upland. Metaverse Group operates additional services including virtual property development, property management, and assisting companies with marketing and advertising in the Metaverse.
“The Metaverse is a game-changer for how advertisers and brands market their products. Physical and virtual real estate are extremely similar. As more people congregate in these virtual cities, the land becomes more sought after for its ability to reach a new global demographic. Brands like Adidas1 and Gucci2 are discovering this, as are artists like Snoop Dogg3 and Ariana Grande4," commented CEO, Andrew Kiguel of Tokens.com. “Metaverse Group has the potential to be a major landlord and developer by using the same strategies used by physical real estate managers."
A metaverse is a 3D online city where people can work, play games and communicate in a virtual environment. Tech firms have implemented metaverse elements in popular games including Animal Crossing, Fortnite and Roblox. Other technology companies such as Microsoft have also embraced the metaverse as the convergence of the virtual and physical world which has only been accelerated with the pandemic. Facebook CEO, Mark Zuckerburg made headlines recently when he said the world’s most popular social network will become a metaverse company5. These elements include planning live events such as concerts, conferences, pitch competitions and tournaments where millions of players can interact from around the globe.
Tokens.com Corp is a publicly traded company that owns an inventory of DeFi and NFT based cryptocurrencies. Through a process called staking, Tokens.com’s inventory of cryptocurrencies is used to earn additional tokens. In addition, Tokens.com co-owns Metaverse Group, one of the world’s first NFT based, virtual real estate blockchain companies. Through its growing digital asset inventory, Tokens.com provides public market investors with a simple and secure way to gain exposure to cryptocurrencies linked to DeFi and NFTs.
Further information can be found on the Company’s website: Tokens.com.
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of cryptocurrencies, as described in more detail in our securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.