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TOKENS COM CORP (SMURF) is a leading company in the digital asset industry, specializing in blockchain technology and tokenization services. They offer a range of products and solutions for businesses looking to tokenize assets, manage digital securities, and streamline transactions. With a strong focus on innovation and partnerships, SMURF has established itself as a key player in the growing digital economy.
Tokens.com Corp. (OTCQB: SMURF) reported its Q1-2023 financial results, revealing revenues of $152,000, down from $326,000 year-over-year. The Company holds $10.4 million in cash and cryptocurrency, with staking revenue also declining to $40,000 compared to $216,000 in Q1-2022. Despite a non-cash loss of $1.3 million on cryptocurrency revaluation, the Company recorded a reduced net loss of $1.6 million. Notably, both subsidiaries, Metaverse Group and Hulk Labs, have become revenue positive, reflecting a strategic shift towards sustainable web3 businesses amid market volatility.
Tokens.com Corp. (OTCQB: SMURF) will release its Q1 2023 financial results for the period ending December 31, 2022, on February 14, 2023. A webinar is scheduled for February 15, 2023, at 10:00 AM ET, hosted by CEO Andrew Kiguel, to discuss the results. Tokens.com focuses on investing in web3 assets, including crypto staking, metaverse operations, and play-to-earn gaming. Its subsidiaries include Metaverse Group and Hulk Labs, enabling them to capitalize on blockchain technology and high-growth trends in the web3 space.
Tokens.com Corp (OTCQB: SMURF) provided an update regarding its assets held with Genesis Global Capital, which filed for Chapter 11 bankruptcy on January 19, 2023. Tokens.com has a loan with Genesis, secured by collateral valued at approximately
Tokens.com Corp. (OTCQB: SMURF) provided an update on its assets held with Genesis Global Capital. The company has a loan facility with Genesis, requiring collateral worth US$890k against an outstanding loan of US$138k. This collateral represents only 3.7% of Tokens.com’s total assets of US$20 million as of September 30, 2022. Due to Genesis pausing redemptions and rumors of potential bankruptcy, the value of the company's collateral is at risk. However, the company asserted that the unavailability of these tokens does not significantly impact its financial position, as it remains capitalized to meet future plans.
Tokens.com Corp. (OTCQB: SMURF) announces that its subsidiary, Hulk Labs, has acquired a validator node license for the play-to-earn game Splinterlands. This partnership allows Hulk Labs to earn Splintershards tokens and game vouchers, enhancing its yield generation focus in web3 gaming. Splinterlands has over 350,000 players and records over 12 million transactions daily. Hulk Labs is also collaborating with NFTy Arcade to onboard new players. The strong performance of Splinterlands, such as the successful pre-sale of a new tower defense game, underscores the game's viability in the current crypto market.
Tokens.com Corp. (OTCQB: SMURF) announces the acquisition of CocoNFT by its subsidiary, Metaverse Group. This NFT platform enables non crypto-native creators to mint NFTs from Instagram using blockchain technology. The acquisition brings in Coco's co-founders as key executives and aims to enhance Metaverse Group's B2B offerings in the NFT space. The integration of Coco's technology and strategic partnerships, including with Opensea and Rarible, is expected to enhance their product capabilities and market reach.
Tokens.com Corp. (OTCQB: SMURF) reported its financial results for FY2022, ending September 30, highlighting a total revenue of $678k and a year-end cash balance of $5.8 million. Despite facing significant market challenges, both Metaverse Group and Hulk Labs became revenue positive this year. The company recorded a net loss of $5.9 million, primarily due to non-cash losses on digital assets. However, management remains optimistic about growth in web3 assets, focusing on innovative business strategies in the metaverse and play-to-earn gaming.
Tokens.com Corp. (OTCQB: SMURF) will release its year-end financial results for the nine months ending September 30, 2022, on December 29, 2022. An investor call, led by CEO Andrew Kiguel, is scheduled for December 30, 2022, at 10:00 AM ET to discuss these results. The company focuses on investments in web3 assets across three segments: crypto staking, metaverse, and play-to-earn gaming. Through subsidiaries like Metaverse Group and Hulk Labs, Tokens.com aims to leverage blockchain technology to foster business growth.
Tokens.com Corp. (OTCQB: SMURF), investing in web3 assets, announced it has sold portions of its digital asset inventory, totaling approximately CAD$1.4 million, to bolster cash reserves amidst ongoing volatility in the crypto market. This move follows the fallout from the bankruptcies of FTX and BlockFi. The company now emphasizes holding Layer 1 assets, primarily Ethereum and Polkadot, to navigate potential prolonged downturns. Despite reductions in Layer 2 assets, Tokens.com remains well capitalized with a strong cash position and is focused on revenue growth in its subsidiaries, Metaverse Group and Hulk Labs.
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