Tokens.com's Subsidiary Closes the Largest Metaverse Land Acquisition in History
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 revenue-generating crypto assets linked to Decentralized Finance ("DeFi"), Non-Fungible Tokens ("NFT") and metaverse real estate is proud to announce the acquisition of a 116 parcel estate in the heart of the Fashion Street district within Decentraland via its subsidiary, Metaverse Group. Decentraland has declared this to be the largest metaverse land acquisition to date.
The estate will be developed to facilitate fashion shows and commerce within the exploding digital fashion industry. Metaverse Group also plans to establish partnerships with several existing fashion brands who are looking to connect with new audiences and expand their ecommerce offerings within the metaverse. Metaverse Group will collaborate with Decentraland to curate fashion projects and events on the estate.
"Fashion is the next massive area for growth in the metaverse," said Sam Hamilton, Head of Content at the Decentraland Foundation. "So it's timely, and very exciting, that Metaverse Group has made such a decisive commitment with this land purchase in the heart of Decentraland's fashion precinct."
Each parcel purchased in this transaction is equivalent to 52.5 square feet, making the acquisition equivalent to 6,090 square feet of land. The acquisition was purchased for 618,000 MANA, an Ethereum based token used as currency in Decentraland.
"We are happy to make history by closing the largest public metaverse land acquisition to date. These assets will complement the existing portfolio of metaverse real estate already held at Metaverse Group. We are excited to have our subsidiary successfully close this landmark digital real estate transaction," said Andrew Kiguel, CEO.
Earlier this year luxury brand giants such as Gucci, Burberr, and Louis Vuitton entered the metaverse through their designer NFTs. Nike, among other brands, has also announced it will be releasing digital sneakers in "Nikeland". Through Metaverse Group, Tokens.com will be further developing Fashion Street and bringing new opportunities for fashion brands to showcase new digital merchandise in the metaverse.
Decentraland is the first fully decentralized virtual world. Powered by DAO, which owns the most important smart contracts and assets of Decentraland. Decentraland is a software running on Ethereum that seeks to incentivize a global network of users to operate a shared virtual world. Decentraland users can buy and sell digital real estate, while exploring, interacting and playing games within this virtual world.
About Metaverse Group
The Metaverse Group is a vertically integrated NFT based metaverse real estate company. The group, with its global headquarters in Decentraland's Crypto Valley, also owns in excess of a 7 figure real estate portfolio across many leading worlds. The company intends to continue to purchase, develop and rent out its portfolio of real estate assets.
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Tokens.com Corp is a publicly traded company that owns an inventory of DeFi and NFT based cryptocurrencies. Through a process called staking, Tokens.com's inventory of cryptocurrencies is used to earn additional tokens. In addition, Tokens.com co-owns Metaverse Group, one of the world's first NFT based, virtual real estate blockchain companies. Through its growing digital asset inventory, Tokens.com provides public market investors with a simple and secure way to gain exposure to cryptocurrencies linked to DeFi and NFTs.
Further information can be found on the Company's website: Tokens.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.
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