Tokens.com Seals Noteworthy Asset Sale Deal with StoryFire

Toronto-based cryptocurrency and Web3 company Tokens.com has recently made strategic moves by putting its domain up for sale and entering into an agreement to sell two subsidiaries to StoryFire, an online social entertainment and gaming platform.

Under this agreement, Tokens.com will divest the assets of its subsidiaries, Metaverse Group and Hulk Labs, to StoryFire. In return, Tokens.com will receive a 15.3 percent equity interest in StoryFire, valued at $3.5 million USD. Additionally, Tokens.com will be granted $500,000 USD worth of Blaze tokens, StoryFire's in-app currency. This strategic deal is slated to conclude on March 1.

The decision to sell assets and enter into this agreement reflects Tokens.com's strategic realignment and focus on consolidating its interests in the rapidly evolving cryptocurrency and Web3 space. The infusion of equity interest in StoryFire, coupled with Blaze tokens, not only signifies a financial transaction but also establishes a partnership between Tokens.com and StoryFire in the dynamic realms of social entertainment and gaming.

As of now, the cryptocurrency landscape is continually evolving, and the move by Tokens.com suggests a deliberate effort to adapt to market dynamics and position itself strategically within the industry. The closure of this sale on March 1 will likely mark a pivotal moment for both Tokens.com and StoryFire as they navigate the complexities of the Web3 and cryptocurrency landscape.

Tokens.com CEO Andrew Kiguel emphasized the benefits for Tokens.com shareholders in the recent transaction, highlighting the strategic move to continue building out Metaverse Group under the stewardship of StoryFire. Kiguel noted that StoryFire, with its successful social media brand boasting over 2 million users and ample capital, is well-positioned to drive further growth in the acquired businesses. This signals a positive outlook for the future development of the entities under the Metaverse Group umbrella.

Simultaneously, Tokens.com has taken steps to explore the sale of its domain name, Tokens.com, by enlisting a third-party broker. The initial asking price for the domain is set at $8 million USD. This move aligns with Tokens.com's strategic realignment and potentially allows the company to capitalize on the market value of its domain name, further bolstering its financial position.

Notably, Tokens.com has been actively involved in building products and acquiring businesses within the crypto staking, metaverse, and play-to-earn gaming space. However, following the closure of the sale to StoryFire, Tokens.com will no longer have an active business presence in the metaverse or Web3 gaming sectors, except through its ownership stake in StoryFire.

It's worth mentioning that Tokens.com is a publicly traded company, listed on both Cboe Canada (formerly Neo Exchange) and the Frankfurt Stock Exchange. The company's strategic decisions and realignment in its business focus reflect its adaptation to the evolving landscape of the cryptocurrency and Web3 industries, and the moves may impact its standing and activities in these financial markets.