- Tokens.com acquired half of the stakes in Metaverse Group, valued at CAD$1.68 million.
- It is among the highest equity investments ever in Metaverse real estate companies.
- Tokens.com issued a whopping two million common shares at an issue price of CAD$0.84 amounting to more than $1.6 mn worth of the acquisition.
Tokens.com, the publicly traded company specialized in digital asset investment, has completed its 50% acquisition of the metaverse group.
Tokens.com issued over 2 million common shares worth CAD$1.68 million, making it one of the highest equity investments in Metaverse. The issue price of these shares is CAD$0.84. Tokens.com received twenty-five million shares of metaverse for its 50% acquisition.
Metaverse Group is the world’s first NFT based real estate company. It owns a portfolio of virtual NFT real estate properties in major blockchain-based metaverses such as Decentraland, Somnium Space, The Sandbox, Cryptovoxels, and Upland. Metaverse Group also provides services including virtual property development, property management, and assisting companies with marketing and advertising in the metaverse.
Tokens.com CEO, Andrew Kiguel showed his excitement for this acquisition, stating that the metaverse has emerged as a game-changer for how advertisers and brands promote their products. According to him, physical and virtual real estate share many characteristics. As more people opt for these virtual cities, the properties become more sought after for their potential to reach a new global demographic.
He also mentioned brands like Adidas and Gucci who have just started indulging in NFT space, and also influential artists like Snoop Dogg and Ariana Grande who recently made headlines.
He further added – “Metaverse Group has the potential to be a major landlord and developer by using the same strategies used by physical real estate managers.”
Tokens.com is a publicly traded company that invests in digital assets used for crypto staking and decentralized finance (Defi) through shareholder capital.