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Tokens.com Corp. (OTCQB: SMURF) announces that its subsidiary, Hulk Labs, has acquired CryptoPunk #5067, enhancing its NFT portfolio. This asset, part of one of the pioneering NFT collections, has a significant market presence, with over $2 billion in sales. The company plans to stake the NFT in NFTX vaults to generate recurring income. CEO Andrew Kiguel emphasizes the strategic value of this unique asset class for appreciation and revenue generation.
Positive
Acquisition of CryptoPunk #5067 enhances NFT collection.
CryptoPunks have over $2 billion in historical sales, indicating strong market demand.
Planned staking of the NFT could generate additional income.
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 crypto assets linked to the Metaverse, Decentralized Finance (“DeFi”), Non-Fungible Tokens (“NFTs”) and Play-to-Earn Gaming (“P2E”), is pleased to share that its wholly-owned subsidiary company, Hulk Labs, has purchased CryptoPunk #5067 to add to its NFT collection.
CryptoPunks are 10,000 human, Zombie, Ape and Alien avatars, algorithmically generated with unique traits, launched in 2017 from Lava Labs. CryptoPunks are recognized as one of the first NFT collections that inspired the ERC721 standard and the concept of NFTs on Ethereum. Celebrities such as Jason Derulo, Jay-Z, Gary Vaynerchuk, football player Odell Beckham Jr, Snoop Dogg, Serena Williams, and companies such as Visa have all collected CryptoPunks.
CryptoPunk #5067 features a female from the icon Larva Labs collection with the following traits: 1 of 147 Red Mohawks, Classic Shades and an Earring. Hulk Labs plans to stake the NFT on NFTX vaults to earn income from this asset. CryptoPunks are a mature asset class, having completed over $2 Billion Dollars in volume to-date.
“Tokens.com is one of the only publicly traded companies to hold its own CryptoPunk,” said Andrew Kiguel, CEO of Tokens.com. “Since CryptoPunks can now be staked, we have the ability to own this unique asset class and also generate recurring revenue from it. This is in line with our philosophy of holding crypto assets that can appreciate in value and generate income.”
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. For further information please visit https://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. 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.
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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.
