Tokens.com has successfully acquired all outstanding shares of Metaverse Group LTD. The merger aims to enhance synergies, including gaming capabilities, and create immersive experiences in the metaverse.
Tokens.com, a publicly-traded company focused on web3 businesses and digital assets, has completed the acquisition of all outstanding shares from minority shareholders of Metaverse Group.
As part of the deal, Tokens.com issued 20,576,941 common shares to minority Metaverse Group shareholders. The shares will be subject to escrow provisions for nine months. Additionally, options to purchase Tokens.com shares and replacement securities were issued to certain security holders of Metaverse Group. The acquisition has received approval from the boards of both companies, Metaverse Group shareholders, and the NEO Exchange.
The integration of Tokens.com and Metaverse Group aims to enhance synergies between the two entities, particularly in the gaming unit of Tokens.com called Hulk Labs. The gamification capabilities of Hulk Labs will contribute to the services offered by Metaverse Group, enabling the development of immersive experiences in the metaverse that combine gaming and virtual reality.
The merger is expected to bring about additional synergies in corporate overhead, investor relations, public relations, and human resources.
Metaverse Group is actively building its software development capabilities across various web2 and web3 metaverses, including platforms like Roblox. The company is platform agnostic and seeks to deliver value in all types of 3D virtual realities. Furthermore, Metaverse Group plans to expand its services to headsets, including the upcoming Apple VR Headset.
Tokens.com intends to pursue further strategic acquisitions that align with its vision and mission, aiming to strengthen its position in web3 and accelerate growth. The company plans to gradually shift its focus from staking operations to concentrate on building the Metaverse Group and Hulk Labs. It may also consider selling part or all of its staking inventory to finance future business growth.
CEO Andrew Kiguel emphasized the need to evaluate high-risk adjusted returns as the company grows. With token values peaking in 2021 and declining staking rewards for large-cap tokens, Tokens.com is exploring strategic and rewarding ways to utilize digital assets on behalf of its shareholders.
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