Tokens.com’s Metaverse Subsidiary Acquires CocoNFT
TORONTO — 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 assets and builds businesses linked to crypto staking, the metaverse, and play-to-earn gaming, is pleased to announce that its subsidiary, Metaverse Group, has acquired CocoNFT (“Coco”), an NFT platform for non crypto-native creators. As part of the acquisition, Coco’s co-founders who will join the Metaverse Group team as Chief Technology Officer and Chief Product Officer, bringing experience from tech sector leaders Hootsuite and Zapier.
The Coco acquisition includes a software platform that allows users to easily mint NFTs from their Instagram, leveraging the blockchain and a web3 wallet. This tool has many applications for both creators and brands alike.
Metaverse Group will work to advance Coco’s technology offering and integrate the products with its virtual world B2B offerings. Additionally, Metaverse Group will leverage Coco’s strategic partnerships with the likes of Opensea and Rarible, and the online communities that Coco has built with over 45,000 followers across TikTok and Twitter.
As part of the acquisition, Coco’s co-founders will join Metaverse Group, Mark Allen as Chief Technology Officer and Brody Berson as Chief Product Officer. They bring a deep technology background leading and working on the development teams of companies such as Hootsuite and Zapier. They will be focused on building further tools and products for both NFT and virtual world applications.
“We are pleased to welcome the CocoNFT team to Metaverse Group. We see CocoNFT’s proprietary technology as being at the forefront of developing and expanding web3 and NFT use cases,” said Andrew Kiguel, CEO of Tokens.com and Executive Chair of Metaverse Group. “Furthermore, the new platform and tools from Coco NFT will further improve Metaverse Group’s ability to provide brands and businesses with more creative and impactful ways to connect with their audiences.”
Through this acquisition, Metaverse Group will be able to provide deeper and better technology solutions for its customer base. Metaverse Group will use the platform to engage with creators and brands and ultimately develop one on one marketing strategies. This acquisition will allow Metaverse Group to come to market with its own proprietary NFT and virtual world products. These products will provide tools to help accelerate growth in the industry.
“This provides us with the ability to continue to build applications for new web3 users,” said Mark Allen Metaverse Group CTO, and CocoNFT Co-founder. “As part of Metaverse Group, we can reach more brands and influencers giving them the tools they need to engage with their customers and fans. I am excited to lead the technical team and build out new products within the metaverse.”
Brands and businesses interested in developing a web3 business can contact email@example.com.
Tokens.com Corp is a publicly traded technology company that invests in web3 assets and builds web3 businesses. The Company focuses on three operating segments: i) crypto staking, ii) the metaverse and, iii) play-to-earn crypto gaming. Tokens.com owns digital assets and operating businesses within each of these three segments.
Staking operations occur within Tokens.com. Metaverse real estate and ecomm3 solutions operations occur within a subsidiary called Metaverse Group. Crypto gaming operations occur within a subsidiary called Hulk Labs. All three businesses are tied together by the utilization of blockchain technology and are linked to high-growth macro trends within web3. Through sharing resources and infrastructure across these business segments, Tokens.com is able to efficiently incubate these businesses from inception to revenue generation.
As a result of each of the three business segments owning digital assets, Tokens.com is required to revalue these assets at every reporting quarter. The Company’s financial statements will have non-cash related gains or losses based on the market performance of the digital assets owned from quarter to quarter. These non-cash revaluations of owned digital assets do not impact the operations or growth within our business segments. The digital assets are owned for the purpose of generating revenue within each business segment. In some instances, the Company may choose to dispose of certain assets if they no longer meet our ownership criteria.
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About Metaverse Group
Metaverse Group is a web3 technology company with products and services that bring businesses to life in web3 environments, including metaverses, NFTs and the next iteration of retail, ecomm3. We integrate web3 technology solutions with a web3 marketing agency and virtual real estate development services, so that our clients can own ecomm3, engage new audiences, and be first movers.
Our ownership over 750 parcels of virtual land and relationships with different metaverses and industry players allow us to deliver category leading solutions that have been recognized by CNBC, Forbes, the Economist and the Wall Street Journal. Tokens.com, a publicly- traded company, is the majority owner of Metaverse Group.
For further information please visit https://metaversegroup.com.
CocoNFT is a technology company with a portfolio of web3 products. Its NFT generator eliminates friction in NFT minting and ownership, enabling users with no web3 knowledge to turn their social posts into NFTs and list them for sale in under 3 minutes. Creators are given a new way to connect with their fans. Its B2B products help users understand and better connect with their customers through NFT and metaverse data and analytics.
For further information visit www.coconft.com.
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/20230103005447/en/
Andrew Kiguel, CEO
Jennifer Karkula, Head of Communications
Media Contact: Ali Clarke – Talk Shop Media
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