Tokens.com Corp (XBOTF)

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https://finance.yahoo.com/news/tokens-com-launches-crypto-play-123000011.html

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Yahoo

Business Wire
Tokens.com Launches Crypto Play-to-Earn Gaming and NFT Investment Platform
Tue, January 18, 2022, 7:30 AM·4 min read
In this article:

TORONTO, January 18, 2022--(BUSINESS WIRE)--Tokens.com Corp. (NEO Exchange Canada: COIN) (Frankfurt Stock Exchange: 76M) (OTCQB US: SMURF) ("Tokens.com" or the "Company"), a publicly-traded company that invests in crypto assets linked to the Metaverse, Decentralized Finance ("DeFi"), and Non-Fungible Tokens ("NFTs"), is pleased to announce it has launched Hulk Labs, a new wholly-owned subsidiary focused on investing in Play-to-Earn revenue generating gaming tokens and NFTs.

Hulk Labs represents a new Web3 vertical for Tokens.com focused on the lucrative Play-to-Earn (P2E) sector. Alongside its crypto staking and Metaverse operations, Hulk Labs provides exposure to the gaming and NFT sectors for Tokens.com shareholders.

Hulk Labs will be led by Tokens.com’s COO, Deven Soni, an experienced executive and investor, along with a founding team including Ben Yu, a prominent influencer and educator in the blockchain space and Joshua Doner, an active blockchain investor who was one of the first people to ever purchase an NFT.

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"Tokens.com is focused on bringing the most exciting growth areas of Web3 and crypto to its investors," said Andrew Kiguel, CEO, Tokens.com. "We are excited to enter into this new vertical with an outstanding team. We have successfully provided our investors with exposure to assets linked to the Metaverse, DeFi, and NFTs. This next stage in our evolution adds gaming and positions us uniquely as one of the only public companies to offer a complete range of Web3 exposure."

P2E gaming is the next major opportunity in Web3 and blockchain. It merges the engagement and entertainment value of online gaming, a sector with 400M+ global daily users, and the ability to earn real-world income through the combination of digital asset ownership and gameplay. This sector was popularized by Axie Infinity, which has 3M+ daily active users and a fully diluted market cap of $20Bn+. The sector has grown dramatically in the last 2 quarters to encompass 600+ games and billions of dollars of crypto market cap. Tokens.com’s CEO, Andrew Kiguel has previously commented on the strength of crypto gaming in Business Insider.

As part of the launch, Hulk Labs is announcing initial investments in several high-potential NFT projects including Illuvium (an open world RPG game based on the Ethereum blockchain), NFTX (a platform for creating liquid markets in illiquid NFTs), and Wall Street Bulls (a gamified NFT collection inspired by retail traders). Tokens.com will also transfer its ownership of 833 million Shiba Inu tokens to Hulk Labs.

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Hulk Labs will continue to proactively acquire and monetize assets in the P2E and NFT sectors. The Company plans to monetize its assets by staking its token holdings and by depositing its gaming P2E assets into top game guilds which loan NFT assets to players in exchange for a revenue share of their gameplay earnings.

"I’m excited to partner with Tokens.com, collaborate with them as they expand into the NFT sector, and give their public market investors access to these innovative and rapidly growing assets," commented Hulk Labs Co-Founder, Ben Yu.

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