Tokens.com to Purchase a 50% Stake in Metaverse Group
By Edlyn Cardoza
Tokens.com Corp., 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. It is one of the highest value Metaverse land acquisitions ever.
Metaverse Group is one of the world’s first virtual NFT based real estate companies. It 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, first, 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 before. Second, Metaverse Group will build out various experiences to provide enterprises worldwide with a simple entry point 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 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 Tokens.com CEO Andrew Kiguel.
“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. The board 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 focusing 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 would become a metaverse company. 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.
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