In the second phase of the transaction, HUMBL, Inc. successfully completed the sale of the HUMBL brand and related technology assets for $20,000,000 in stock and cash to WSCG, Inc., a private real estate and blockchain firm based in Salt Lake City, Utah.
WSCG, Inc. is guided by a team of experienced real estate professionals with over $1.5 billion in real estate development and management expertise in the Mountain West region.
WSCG will focus on the convergence of real estate and blockchain tokenization by integrating HUMBL’s intellectual property and technology assets. This includes a core focus on the HUMBL Wallet, HUMBL.com blockchain tokenization and the BLOCK ETXs by HUMBL Financial.
WSCG has already secured several real estate commitments for blockchain tokenization in the Mountain West, with plans to do so through the HUMBL Wallet and the HUMBL.com platform.
HUMBL’s public shareholders will maintain ongoing investment exposure to the HUMBL assets through HUMBL Inc.’s equity stake in the WSCG private company.
“This transaction ensures the survival of HUMBL’s intellectual property and core technologies, along with ongoing investment exposure for HUMBL Inc.’s shareholders via its equity stake in the private company WSCG, Inc.,” said Brian Foote, outgoing CEO of HUMBL. “At the same time, the transaction delivers a strong Latin American asset holder into the public company. We believe that this transaction will deliver value to HUMBL shareholders on both sides of the public and private company ledger.”
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