Tokens.com Corp. a publicly traded company that uses shareholder capital to invest in digital assets used for crypto staking and Decentralized Finance is pleased to announce that the Company has acquired tokens in the popular blockchain-based game Axie Infinity. Axie Infinity is a Non-Fungible Token -based game that is hosted on two Ethereum-based cryptocurrencies: AXS and SLP. Tokens.com has acquired 980 AXS, the …
Tokens.com Corp. ( NEO:COIN ) ( FSE:76M ) (“Tokens.com” or the “Company”), a publicly traded company that uses shareholder capital to invest in digital assets used for crypto staking and Decentralized Finance (DeFi), is pleased to announce that the Company has acquired tokens in the popular blockchain-based game Axie Infinity. Axie Infinity is a Non-Fungible Token (NFT)-based game that is hosted on two Ethereum-based cryptocurrencies: AXS and SLP. Tokens.com has acquired 980 AXS, the game’s Proof-of-Stake governance token, and 174,400 SLP, a utility token used within the game. The Company plans to deploy various yield-generating strategies with these tokens, including providing liquidity and eventually staking.
In one year, the Decentralized Finance (DeFi) industry’s market capitalization has ballooned 14.6 times from $2.2 billion to $32.2 billion (1) , while the total value of user deposits (known in the industry as total value locked or TVL) has surged 24.5 times from $2.4 billion to $58.9 billion (1) . In the past month, Axie Infinity has generated $135 million (2) in revenue making it the second largest project by revenue in the entire cryptocurrency ecosystem behind Ethereum itself.
Axie Infinity is a Pokemon-inspired digital pet universe where players use their characters called “Axies” in various games. The Axie Infinity Universe highlights the benefits of blockchain technology through play to earn gameplay and a player-owned economy.
“We are excited to make an entry point into the world of crypto gaming where through providing liquidity and staking, we can generate immediate revenue on our capital. Tokens.com continues to build its revenue generating digital asset inventory and our strategy remains to invest directly into DeFi and crypto-related strategies for the benefit of our shareholders,” said Andrew Kiguel, Tokens.com CEO. “We believe that we are the first publicly traded company to provide exposure to Axie, which represents an exciting new area for crypto.”
With positions in AXS and SLP, Tokens.com will participate in the growth of one of the most successful blockchain-based applications to date. Axie Infinity Shards (AXS) were introduced on Binance in November 2020 and are a Proof-of-Stake Ethereum governance token for the Axie universe. Tokens.com as an AXS holder will be able to shape the future of Axie Infinity by signaling its support for upgrades to the ecosystem and directing usage of a community treasury. The Smooth Love Potion (SLP) token is an uncapped utility token that can be utilized within the game to breed new Axies.
(1) The Block: https://www.theblockcrypto.com/data/decentralized-finance/asset-management
(2) https://www.tokenterminal.com/
About Tokens.com
Tokens.com is a publicly traded blockchain technology company that connects investors to the digital assets used for crypto staking and Decentralized Finance (DeFi). To accomplish this, Tokens utilizes Proof-of-Stake (“PoS”) or Staking technology. DeFi is a new class of financial applications that provides users with automated and transparent financial services, such as borrowing and lending, without the need for financial institutions. Management believes that as mainstream adoption for DeFi applications grows, the need for Tokens.com’s staking services will commensurately increase.
Tokens’ management team includes seasoned blockchain and financial professionals with prior experience at Hut 8 Mining, Fidelity Investments, Galaxy Digital and Goldman Sachs. Tokens was formed in collaboration with Polychain Labs, an affiliate of Polychain Capital, which is one of the largest cryptocurrency venture capital firms in Silicon Valley. Current investors include Bitbuy Limited, First Block Capital, HIVE Blockchain Technologies Ltd., PowerOne Capital Group, Matthew Roszak (the co-founder and Chairman of Bloq, Inc.), and Olaf Carlson-Wee (the founder and CEO of Polychain Capital).
The Company’s common shares are listed under the symbol “COIN” in Canada on the NEO Exchange, as “76M” on the Frankfurt Stock Exchange and as “SMURF” on the U.S. OTC Market.
Further information can be found on the Company’s website: Tokens.com.
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Neither NEO Exchange nor its Regulation Services Provider (as that term is defined in policies of the NEO Exchange) accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENT DISCLAIMER
Certain statements in this news release have been derived from third party sources and have not been independently verified by the Company. In addition, this news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects’, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. Forward-looking statements in this news release include statements regarding: the Company’s expected use of Axie-related tokens; the Company’s expected ability to participate in governance; the potential size of the crypto asset market; the impact of digital assets on the economy; expected adoption of blockchain technology and market opportunities related to same; and the Company’s beliefs regarding the use of Staking technology by new digital asset platforms. Forward looking statements involve risks, uncertainties and other factors, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements, including that: the Company’s plans or ability to deploy tokens to yield-generating strategies; competition or other factors may diminish expected returns; market adoption of blockchain may be slower than expected; the Company may need to deploy its tokens in ways other than currently anticipated; the Company may be unable to raise financing needed to continue its business on terms expected or at all; the Company’s business is subject to cybersecurity risks; and regulatory changes may impact the Company’s ability to conduct its business as currently conducted, as well as other factors beyond the Company’s control, and those risk factors included under the heading “Risk Factors” in the Company’s filing statement dated April 22, 2021, which is available under the Company’s profile at www.sedar.com . Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date of this release, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this release. The forward-looking statements in this news release are made only as of the date of this release and the Company does not undertake any obligation to update any forward-looking statements, except as required by applicable securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210728005329/en/
Tokens.com Corp.
Katherine Sullivan, Head of Corporate Strategy & Investor Relations
Email: contact@tokens.com
Phone: (647) 578-7490
Media Contact: Megan Stangl – Talk Shop Media
Email: Megan@talkshopmedia.com
