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Tokens.com Announces Additional Investment in Metaverse Group and the Purchase of Additional ETH
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Tokens.com (OTCQB: SMURF) announces a strategic investment of $6 million in Metaverse Group, leading the financing round and maintaining a 67% ownership stake. This funding aims to enhance Metaverse Group's capabilities to acquire virtual properties and expand its services. Additionally, Tokens.com has increased its Ethereum holdings by purchasing an additional 230 ETH, totaling 3,000 ETH. The company continues to invest in crypto assets linked to the Metaverse, DeFi, and NFTs, offering investors exposure to these growing sectors.
Positive
Completed a strategic investment of $6 million into Metaverse Group.
Retains a 67% majority ownership of Metaverse Group.
Increased Ethereum holdings to 3,000 ETH after purchasing 230 ETH.
Negative
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 revenue-generating crypto assets linked to the Metaverse, Decentralized Finance (“DeFi”), and Non-Fungible Tokens (“NFTs”) is pleased to announce the completion of additional strategic investment in Metaverse Group's $6 million financing. Tokens.com was the lead investor in this strategic round of financing and retains its 67% majority ownership.
“This latest financing capitalizes Metaverse Group with the ability to purchase additional marquee properties in the metaverse and build out its services business. We are extremely pleased with the progress at the company and the exciting things in store for 2022,” said Andrew Kiguel, CEO of Tokens.com. “Metaverse Group is well positioned to use this new capital to generate exceptional growth and purchase strategic land assets in the metaverse.”
“This financing round gives Metaverse Group the capital to continue to purchase land and grow our business. We are well capitalized and on our way to building the premier virtual real estate business in the world. Tokens.com has been a pivotal partner to Metaverse Group, and we’re grateful for the Company’s ongoing support,” commented Lorne Sugarman, CEO of Metaverse Group.
In addition, Tokens.com has increased its ownership of Ethereum with a subsequent purchase of 230 ETH tokens, bringing its total ETH holdings to 3,000. In addition to ETH tokens, Tokens.com also owns Solana, Polkadot, Terra, Shiba Inu, Oasis Rose and Ankr. Tokens.com stakes the majority of its token holdings to earn additional tokens.
About Ethereum
ETH and ETH 2.0 are the native cryptocurrency tokens for the Ethereum blockchain. Ethereum is a decentralized, open-source blockchain that is programmable through smart contracts. It is the dominant blockchain used to build DeFi platforms, which allow peer-to-peer financial services without the need of a bank or intermediary. ETH and ETH 2.0 represent the second largest cryptocurrency in the world based on market capitalization.
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.
About Tokens.com Tokens.com Corp is a publicly traded company that owns an inventory of Metaverse, 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 is the majority owner of the Metaverse Group, one of the world’s first virtual real estate companies. Through its growing digital assets and NFTs, 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.
Keep up-to-date on Tokens.com developments and join our online communities at Twitter, LinkedIn, and YouTube.
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.
What is Tokens.com recent investment in Metaverse Group?
Tokens.com announced a strategic investment of $6 million in Metaverse Group, retaining a 67% ownership stake.
How much Ethereum does Tokens.com currently hold?
Tokens.com has increased its Ethereum holdings to a total of 3,000 ETH after purchasing an additional 230 ETH.
What is the stock symbol for Tokens.com?
The stock symbol for Tokens.com is SMURF, listed on the OTCQB.
What are the main business areas of Tokens.com?
Tokens.com focuses on investments in revenue-generating crypto assets linked to the Metaverse, Decentralized Finance (DeFi), and Non-Fungible Tokens (NFTs).
