Tokens.com Announces that it has Staked its CryptoPunk

Rhea-AI Summary

Tokens.com, a public company focused on Web3 investments, has staked its CryptoPunk #5067 via the NFTX platform, generating a new revenue stream. The NFTX platform allows users to stake NFTs for an annual yield exceeding 17%. This initiative reflects the growing liquidity in the NFT market and aligns with Tokens.com’s strategy to leverage DeFi applications. CEO Andrew Kiguel emphasized the benefits of exploring new DeFi opportunities, while COO Deven Soni noted the macro growth potential in the NFT and DeFi sectors.

Positive

• Tokens.com has staked CryptoPunk #5067, opening a new revenue stream.
• Annual yield on CryptoPunk staking exceeds 17%, boosting potential returns.

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 The Company has staked its recently acquired CryptoPunk #5067, using the NFTX platform.

NFTX is an NFT DeFi platform that enables users to borrow, lend, and trade various top NFTs. Depositors like Tokens.com can stake their CryptoPunk or other digital assets for yield. Yield is paid in additional tokens.

Trading generates fees for users that have deposited into the vault. The fees are split between the members of the vault based on the percentage of their total capital allocation. The current annualized yield for depositing a CryptoPunk into an NFTX vault is over 17%.

“Using the NFTX platform to stake our CryptoPunk opens a new revenue stream for Tokens.com. We are happy to use and explore new DeFi applications and continue to bring shareholders the most exciting aspects of Web3,” said Andrew Kiguel, Tokens.com CEO.

“NFTX is an innovator in the DeFi space and is taking steps to create more liquidity in the NFT ecosystem. We are big believers in the macro growth potential for DeFi and NFTs and think this is just part of a large trend of increased liquidity for NFT holders. We anticipate this will further increase demand for top NFT projects like CryptoPunks,” commented Deven Soni, COO of Tokens.com.

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 and businesses. 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.

Visit Tokens.com to learn more.

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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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220308005354/en/

For further information:

Tokens.com Corp.

Andrew Kiguel, CEO

Telephone: +1-647-578-7490

Email: contact@tokens.com

Jennifer Karkula, Head of Communications

Email: contact@tokens.com

Media Contact: Ryleigh Ebron – Talk Shop Media

Email: ryleigh@talkshopmedia.com

Source: Tokens.com Corp.

FAQ

What is the significance of Tokens.com staking CryptoPunk #5067 on NFTX?

Staking CryptoPunk #5067 on NFTX allows Tokens.com to generate new revenue streams through a yield of over 17%.

How does NFTX benefit Tokens.com and its investors?

NFTX provides liquidity in the NFT ecosystem and allows Tokens.com to earn additional tokens by staking its NFT assets.

What is the current yield for CryptoPunk staking on NFTX?

The current annualized yield for staking a CryptoPunk on the NFTX platform is over 17%.

Who are the key executives commenting on the NFTX staking announcement?

CEO Andrew Kiguel and COO Deven Soni commented on the potential benefits and liquidity of the NFT market.

What type of assets does Tokens.com focus on?

Tokens.com invests in Web3 crypto assets, including NFTs and DeFi businesses.