Tokens.com Announces that it has Staked its CryptoPunk

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 Web3 crypto assets and businesses linked to the Metaverse and NFTs, is pleased to announce that The Company has staked its recently acquired CryptoPunk #5067, using the NFTX platform.

NFTX is an NFT DeFi platform that enables users to borrow, lend, and trade various top NFTs. Depositors like Tokens.com can stake their CryptoPunk or other digital assets for yield. Yield is paid in additional tokens.

Trading generates fees for users that have deposited into the vault. The fees are split between the members of the vault based on the percentage of their total capital allocation. The current annualized yield for depositing a CryptoPunk into an NFTX vault is over 17%.

“Using the NFTX platform to stake our CryptoPunk opens a new revenue stream for Tokens.com. We are happy to use and explore new DeFi applications and continue to bring shareholders the most exciting aspects of Web3,” said Andrew Kiguel, Tokens.com CEO.

“NFTX is an innovator in the DeFi space and is taking steps to create more liquidity in the NFT ecosystem. We are big believers in the macro growth potential for DeFi and NFTs and think this is just part of a large trend of increased liquidity for NFT holders. We anticipate this will further increase demand for top NFT projects like CryptoPunks,” commented Deven Soni, COO of Tokens.com.

About Tokens.com

Tokens.com Corp is a publicly-traded Web3 company that owns an inventory of Metaverse, P2E, DeFi and NFT based digital assets and businesses. Tokens.com is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned Tokens.com subsidiary, focuses on investing in Play-to-Earn revenue generating gaming tokens and NFTs. Additionally, Tokens.com owns and stakes crypto assets to earn additional tokens. Through its growing digital assets and NFTs, Tokens.com provides public market investors with a simple and secure way to gain exposure to Web3.

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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.