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Tokens.com (OTCQB: SMURF) has announced the acquisition of Playte Group, a company focused on building tools for the play-to-earn (P2E) economy. The deal involves the issuance of 1 million shares, with performance-based milestones for further shares. Playte will enhance Tokens.com's subsidiary, Hulk Labs, by integrating its platform for player management in Africa. This acquisition aligns with Hulk Labs' strategy to lead in P2E gaming technology and capitalizes on the growing interest in the play-to-earn market.
Positive
Acquisition of Playte Group will enhance Hulk Labs' player management capabilities.
Integration of Playte's technology is expected to strengthen Tokens.com’s position in the play-to-earn gaming market.
Potential for significant growth in the play-to-earn economy, with a focus on investor and gamer interest.
Negative
Playte is currently a pre-revenue entity, raising concerns about immediate financial contributions.
Debt dilution risk exists from the issuance of 1 million shares for the acquisition.
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 it has acquired Playte Group, a company that builds tools to power the play-to-earn (P2E) economy.
Playte will be integrated into Tokens.com subsidiary, Hulk Labs, where Playte’s platform will be used to manage its player network in Africa. In consideration of the acquisition, Tokens.com will issue 1 million shares. The Playte team is eligible for additional shares based on meeting various performance-based milestones.
“Hulk Labs is tying together the key pieces to create an integrated play-to-earn gaming platform,” commented Andrew Kiguel, CEO of Tokens.com. “The massive video game market is shifting to play-to-earn games. Hulk is establishing itself as a technology leader in player management and in analyzing gaming profitability. Hulk labs currently provides the top gaming calculators for free on its website for players to view. The Playte acquisition is a perfect fit with our exclusive access to video game players in the DRC recently announced.”
Playte is a pre-revenue entity domiciled in Ontario with 5 employees. Playte’s mission is to build a platform to automate the management of P2E assets and players in the blockchain play-to-earn ecosystem. In addition, Playte is building tools to manage players and assets for games on networks including Ethereum, Solana, and Avalanche. Playte is actively focused on building tools for games including Axie Infinity, Crabada, and Thetan Arena. In addition, the Playte team is in the process of building an on-the-ground network of 1,000+ players in Africa.
“We expect an explosion of interest in the play-to-earn economy from investors and gamers,” said Deven Soni, COO of Tokens.com. “We are excited to work with the team from Playte to help build tools and infrastructure to grow this ecosystem.”
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 Hulk Labs
Hulk Labs is a Tokens.com subsidiary company that invests in the NFT ecosystem with a focus on play-to-earn games. The company acquires gaming tokens and NFTs and monetizes them through staking and gaming guilds.
Playte Group is a Ontario-based play-to-earn blockchain technology business that is building a set of software and tools to onboard, manage, and track players and assets in the play-to-earn economy.
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.
