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Tokens.com Announces Sale of Metaverse Group and Hulk Labs to StoryFire
Industry Information
31 Jan 2024 10:56:22 AM
Abstract:
According to reports from American business news, on January 30, 2024, Tokens.com announced the sale of assets belonging to Metaverse Group and Hulk Labs to StoryFire Group. The transaction is expected to be completed by March 1, 2024.
According to reports from American business news, on January 30, 2024, Tokens.com announced the sale of assets belonging to Metaverse Group and Hulk Labs to StoryFire Group. The transaction is expected to be completed by March 1, 2024.
Tokens.com, a publicly traded Canadian company (listed on the Canadian Chicago Options Exchange: COIN), is a web3 technology holding company with a portfolio of cryptocurrency assets and crypto-related domain names.
Tokens.com Website
The consideration for Tokens.com includes a 15.3% equity stake in StoryFire (valued at $3.5 million) and $500,000 worth of Blaze tokens (StoryFire's in-app currency). Additionally, Tokens.com will receive a seat on the board of directors of StoryFire. Following the completion of the transaction, Tokens.com will no longer have operations in the Metaverse or web3 gaming sectors unless it retains ownership of StoryFire.
StoryFire.com Website
StoryFire is a privately owned online social entertainment and gaming platform that allows users to create and engage in immersive experiences. With a rapidly growing user base of 2.5 million, StoryFire provides a vibrant and creative community for storytellers and enthusiasts. StoryFire users create social posts similar to Twitter, gain followers, and earn in-app currency called Blaze.
Andrew, CEO of Tokens, stated, "This transaction brings multiple benefits to Tokens.com shareholders, including strategic acquisitions to further expand the Metaverse Group. StoryFire is a successful social media brand with over 2 million users and capital to grow these businesses."
Tokens.com was registered in November 1995. "Tokens" typically refers to tokens or markers. In the cryptocurrency field, it is often used to refer to units in digital assets or cryptocurrencies.
Furthermore, Tokens.com has hired a third-party broker to explore the sale of the Tokens.com domain name, with an initial listing price of $8 million.
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