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Tokens.com Announces Completion of Strategic Investment Round at Hulk Labs
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Tokens.com (OTCQB US: SMURF) announced that its subsidiary, Hulk Labs, has completed a strategic financing round led by DV Investment Management. This is the first instance of Hulk Labs raising capital outside of Tokens.com, which remains its majority owner with over 90% equity. The funds will be allocated to yield-generating play-to-earn assets and expanding gaming teams. Despite current market volatility, the company remains committed to investing in high-growth Web3 businesses, particularly in the play-to-earn gaming sector.
Positive
Successful financing round led by DV Investment Management.
Hulk Labs retains over 90% ownership by Tokens.com, providing stability.
Funding earmarked for yield-generating play-to-earn assets and team expansion.
Management expresses a bullish outlook on the play-to-earn sector despite market challenges.
Negative
Current market volatility may pose risks to business growth.
TORONTO, Ontario--(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, Hulk Labs, has completed a strategic financing round led by DV Investment Management.
Hulk Labs is a Tokens.com subsidiary focused on developing the emerging play-to earn Web3 gaming sector. This funding is the first time Hulk Labs has raised capital outside of Tokens.com. Tokens.com is participating in the financing round as the largest investor and will continue to own over 90% of Hulk Labs. The financing capital will be used to invest in yield-generating play-to-earn assets and to build out its existing gaming teams.
“Tokens.com is consciously working on building its businesses, and investing in the newest and most exciting areas of web3,” commented Andrew Kiguel, CEO of Tokens.com. “Despite short term market turmoil, we are committed to using our capital to build high-growth Web3 businesses linked to long term macro opportunities such as play-to-earn gaming.”
“We are excited to partner with DV Investment Management as we continue to grow Hulk Labs' play to earn business,” said Deven Soni, President of Hulk Labs. “Despite the current market volatility, we continue to be incredibly bullish on the play-to-earn sector and continue to invest and build actively."
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.
DV Investment Management is an affiliate of the DV Group of financial services companies. Founded more than 15 years ago and headquartered in Chicago, the DV Group of financial services companies has grown to more than 350 people operating throughout North America and in Europe. Since spinning out of a large brokerage firm in 2016, DV Trading has rapidly scaled as an independent proprietary trading firm utilizing its own capital, trading strategies, and risk management methodologies to provide liquidity to worldwide financial markets and hedging opportunities to commodity producers and users. Now, DV Group affiliates include two broker-dealers, a cryptocurrency market making firm, and a bourgeoning investment adviser.
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.
