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Tokens.com Announces Lease Agreement with Skechers on its Fashion Street Estate
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Tokens.com Corp. (OTCQB: SMURF) has announced that its subsidiary, Metaverse Group, has signed a lease with Skechers USA, Inc. (NYSE: SKX) for a 5,000-square-foot space in Decentraland. This collaboration represents a significant step in Tokens.com’s Metaverse strategy, positioning Metaverse Group as a pioneering virtual landlord. The lease aims to create an innovative shopping experience and generate recurring revenue, akin to traditional real estate models. Both companies are exploring new customer engagement strategies within the Metaverse.
Positive
Metaverse Group signs a lease with Skechers for 5,000 square feet in Decentraland, enhancing their Metaverse strategy.
This partnership establishes Metaverse Group as a leading virtual landlord, generating recurring revenues.
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 Web3 crypto assets and businesses linked to the Metaverse and NFTs, is pleased to announce that its subsidiary company Metaverse Group has signed a lease agreement with Skechers USA, Inc. (NYSE: SKX), the third largest athletic footwear brand in the world.
Skechers has leased the equivalent of a 5,000-square-foot space on virtual land owned by Metaverse Group to build an experiential store on the Fashion Street Estate located in the Decentraland Metaverse.
"Our collaboration with Skechers marks a pivotal evolution in our Metaverse strategy. This partnership establishes our subsidiary, Metaverse Group, as one of the first virtual landlords to successfully lease out its Metaverse real estate,” commented Andrew Kiguel, Tokens.com CEO and Metaverse Group Executive Chairman. “We not only own valuable virtual real estate but also generate recurring revenue, similar to landlords in the physical world and online advertising platforms such as large search engines and social media networks.”
“Our Decentraland agreement is an investment in our future,” said Michael Greenberg, president of Skechers. “We look forward to embarking on this virtual era, and exploring creative ways for our brand to engage with new customers and audiences as we launch the new Skechers experience.”
Brands seeking to participate in the Metaverse or landowners seeking to sell virtual land are encouraged to reach out to landsales@metaversegroup.com for more information.
About Tokens.com
Tokens.com Corp is a publicly traded Web3 company that owns an inventory of Metaverse, P2E, DeFi and NFT 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 at 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.
Skechers USA, Inc. (NYSE:SKX), The Comfort Technology Company™ based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in the United States and over 180 countries and territories via department and specialty stores, and direct to consumers through 4,306 Company and third-party-owned retail stores and e-commerce websites. The Company manages its international business through a network of global distributors, joint venture partners in Asia, Israel and Mexico, and wholly-owned subsidiaries in Canada, Japan, India, Europe and Latin America. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, Twitter, and TikTok.
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.
