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Tokens.com to Purchase a 50% Stake in Metaverse Group, One of the World’s First Virtual Real Estate Companies
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Tokens.com Corp. (OTCQB US: SMURF) has entered into a letter of intent to acquire a 50% stake in Metaverse Group through a share swap, marking a significant move in the Metaverse real estate sector. This acquisition is considered one of the largest in Metaverse land history and will enhance Tokens.com's asset portfolio in NFTs and digital real estate. Metaverse Group specializes in virtual property development and is working on launching the first Metaverse Real Estate Investment Trust. The transaction is expected to close in Q4 2021.
Positive
Acquisition of 50% stake in Metaverse Group expands digital asset portfolio.
Positioning as a significant player in the Metaverse real estate market.
Potential for recurring revenue through innovative rental models.
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 uses shareholder capital to purchase digital assets used for crypto staking and Decentralized Finance (“DeFi”), is pleased to announce that the Company has entered into a letter of intent to purchase a 50% stake in Metaverse Group, in the form of a share swap, making it one of the highest value Metaverse land acquisitions ever.
Metaverse Group is one of the world’s first virtual NFT based real estate companies and owns a portfolio of premium virtual NFT real estate properties in major blockchain-based Metaverses including Decentraland, Somnium Space, The Sandbox, Cryptovoxels and Upland.
Metaverse Group operates additional services including virtual property development, property management, and assisting companies with marketing and advertising in the Metaverse.
The immediate roadmap of Metaverse Group is, firstly, to complete the structuring of the world’s first Metaverse Real Estate Investment Trust with 100% NFT land assets, melding the virtual world with the real world to create a real estate product that has never existed beforehand. Secondly, Metaverse Group will build out a variety of experiences to provide enterprises around the world with a simple entrypoint to gaining exposure to virtual worlds through a rental model that will generate recurring revenue for Tokens.com.
“The Metaverse is going to have a major global impact on the way that consumers interact, socialize and shop. The blockchain-based NFTs that power the Metaverse are one of the most natural use cases of blockchain technology and are driving thousands of new users to cryptocurrency each day. Metaverse Group has embraced the Metaverse from its earliest days and shares our vision of giving public market investors exposure to innovative blockchain technologies,” commented CEO, Andrew Kiguel of Tokens.com. “We look forward to monetizing these digital land assets to generate recurring income in line with Tokens.com’s vision of providing public market investors exposure to yield-generating digital assets. Ultimately, we see Metaverse Group as being a significant land owner and developer in the digital world with the ability to pay out distributions in a REIT structure,” added Kiguel.
Metaverse Group was founded as a joint venture between GDA Capital Corporation and Wolfest Woods with a board that consists of Michael Gord and Jason Cassidy, two of the earliest adopters of blockchain technology in Canada with a long standing track record of building first to market disruptive technology businesses. Both Gord and Cassidy will continue as partners with a focus on building out Metaverse Group’s Metaverse business.
“We are excited to partner with Tokens.com to significantly accelerate our roadmap at Metaverse Group. The deep capital markets experience of the leadership team at Tokens.com provides tremendous value as we look to build out and raise capital for the first Metaverse REIT in the world. This also makes Tokens.com one of the first public companies in the world to have exposure to the Metaverse, which presents a unique opportunity for our team at Metaverse Group,” commented Metaverse Group Co-Founder, Michael Gord.
A metaverse is an online world where people can work, play games and communicate in a virtual environment. Tech firms have implemented metaverse elements in popular games including Animal Crossing, Fortnite and Roblox. Other technology companies such as Microsoft have also embraced the metaverse as the convergence of the virtual and physical world which has only been accelerated with the pandemic. Facebook CEO, Mark Zuckerburg made headlines recently when he said the world’s most popular social network will become a metaverse company(1). These elements include planning live events such as concerts, conferences, pitch competitions and tournaments where millions of players can interact from around the globe.
Tokens.com and Metaverse Group expect to complete this transaction in Q4 of 2021.
Tokens.com Corp utilizes staking technology to generate revenue from its inventory of cryptocurrency and Decentralized Finance (“DeFi”) based tokens. Through it’s growing inventory of digital assets, Tokens.com provides public market investors with a simple and secure way to get exposure to cryptocurrencies, DeFi, and Non-Fungible Tokens.
The Company’s common shares are listed under the symbol “COIN” in Canada on the NEO Exchange, as “76M” on the Frankfurt Stock Exchange and as “SMURF” on the US OTCQB Market.
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.
About Metaverse Group
The Metaverse Group is the first vertically integrated real estate company focused on the metaverse economy in the world. The group, with its global HQ in Crypto Valley in Decentraland, has expanded globally and consists of several firms focused in diverse areas of the metaverse industry including real estate acquisition, development, real estate investment trust management, metaverse district development, metaverse capital markets and other related services.
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.
