We may earn a commission for purchases using our links. Learn more.
The publicly traded crypto investing company, Tokens.com has announced the closure of its purchase of a 50% stake in virtual real estate company, Metaverse Group.
This acquisition is one of the highest valued equity investments in the Metaverse Company via Tokens.com’s issuance of over 2 million common shares valued at CAD$1.68 Million. Tokens.com will receive t5 million shares of Metaverse Group for its 50% ownership position.
What is the Metaverse Group? It’s one of the world’s first NFT based real estate companies and owns an extensive portfolio of virtual NFT real estate properties in major blockchain-based metaverses including decentraland, Somnium Space, The Sandbox, Cryptovoxels and Upland.
The metaverse group also operates additional services including property development, property management, and assisting companies with marketing and advertising in the metaverse.
What the heck is a Metaverse? according to tokens.com, it’s a 3D online city where people can work, play games and communicate n a virtual environment. Great examples of corporate implementations which have metaverse elements include Animal Crossing, Fortnite, and Roblox.
Companies like Microsoft have also embraced the metaverse as a convergence of the physical and virtual world, accelerated by the pandemic.
Mark Zuckerberg, CEO of Facebook made headlines recently when he said the world’s most popular social media network would become a metaverse company.
Great elements of the metaverse would include live events such as concerts, conferences, pitch competitions, and tournaments where millions of players can interact from arroud the globe.
What are your those on Token.com’s acquisition of 50% of Metaverse Group? Share them in the comments.