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Tokens.com Corp. (OTCQB: SMURF) has announced the acquisition of the Music District in Decentraland through its subsidiary, Metaverse Group, in partnership with 13th Floor Ventures. This significant purchase involves 34 parcels, totaling 91,936 sq ft, strategically located near Festival Land and Genesis Plaza. CEO Andrew Kiguel emphasized the site’s potential for hosting major cultural events. This acquisition positions Metaverse Group as a leading landowner in Decentraland, reinforcing its strategy to capitalize on advertising and immersive experiences in the Metaverse.
Positive
Acquisition of 34 parcels in Decentraland enhances Metaverse Group's status as a major landowner.
Strategic location allows for high foot traffic and potential advertising revenue.
Planned development for events like movie premieres and concerts indicates strong future revenue opportunities.
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None.
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 share that its subsidiary, Metaverse Group, has purchased the Music District in Decentraland, as a joint venture with 13thFloor Ventures, an institutionally-backed investment fund focused on virtual real estate opportunities in the Metaverse.
The Music District is comprised of 34 parcels, equivalent to 91,936 sq ft of flat land in physical terms. The district is positioned in a strategic location as the land borders Festival Land, Decentraland’s live music district that has featured live performances from many prominent artists and Genesis Plaza, the heart of Decentraland where all users enter the virtual world and retains high foot traffic volumes.
This district purchase solidifies Metaverse Group’s position as one of the largest landowners in Decentraland, as the group continues to collect strategically located parcels in Decentraland. Owning parcels in locations like the Music District allows the company to offer advertising space in the most popular and most highly sought-after areas.
“We plan on developing this land to host movie premiers, music launches and concerts,” commented Andrew Kiguel, CEO of Tokens.com and Executive Chair of Metaverse Group. “We believe that music and fashion will be leading drivers of value in the Metaverse, thus the strategic importance of this acquisition.”
The Music District acquisition is one of the largest virtual land purchases of 2022 to date.
“The Music District is the perfect site to execute our shared vision to create immersive experiences across all forms of talent and entertainment,” said Evan Abraham, Co-founder and Managing Partner of 13thFloor Ventures. “We are thrilled to partner with an industry leader like Metaverse Group on this acquisition and look forward to growing our joint venture through additional virtual land developments. This is the first of many significant investments in the category as 13FV establishes itself as a key investor in Metaverse assets.”
Brands or virtual landowners interested in partnering with Metaverse Group should contact Info@metaversegroup.com.
About Tokens.com
Tokens.com Corp is a publicly traded company that invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming based digital assets. 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.
Keep up-to-date on Tokens.com developments and join our online communities on Twitter, LinkedIn, and YouTube.
About Metaverse Group
The Metaverse Group is a vertically integrated NFT based Metaverse real estate company. The group, with its global headquarters in Decentraland’s Crypto Valley, also owns an eight figure real estate portfolio across many leading virtual worlds. The company intends to continue to purchase, develop and rent out its portfolio of real estate assets. Tokens.com, a publicly- traded company, is the majority owner of Metaverse Group.
13th Floor Ventures was formed to address growing investment demand from institutions, family offices, and high-net-worth individuals seeking to comfortably access opportunities in the Metaverse. Drawing upon our founders’ experience in the C-suite, successful execution of varied private equity investment structures, and deep relationships within diverse blockchain communities, 13FV is well positioned to generate best-in-class risk-adjusted returns for investors. Each investment – Class A virtual real estate, Metaverse infrastructure, or Metaverse platforms – is driven by our distinguished industry standard of deal structuring and meticulous diligence.
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.
