Investors may want to keep an eye on NFT-related (non-fungible token) stocks. According to Binance, NFTs “are the bridge to the metaverse, and facilitate identity, community, and social experience” adding, “The metaverses and NFT blockchain gaming will become an integral part of Web 3.0, an era where real-world businesses expand into the digital space, and users uncover the versatility of such environments. We believe that NFT ownership is key and will open up a world of opportunities in the emerging metaverses.” All could be beneficial for companies such as Tokens.com Corp. (NEO:COIN)(OTCQB:SMURF), Coinbase Global Inc. (NASDAQ:COIN), Meta Platforms Inc. (NASDAQ:FB), Galaxy Digital Holdings Ltd. (TSX:GLXY)(OTC:BRPHF), and NVIDIA Corporation (NASDAQ:NVDA).
Tokens.com Corp. (NEO:COIN)(OTCQB:SMURF) Just Launched Crypto Play-to-Earn Gaming and NFT Investment Platform
Tokens.com Corp., a publicly-traded company that invests in crypto assets linked to the Metaverse, Decentralized Finance, and Non-Fungible Tokens, 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.
“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.
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.
Additionally, Tokens.com would like to welcome Joshua Doner who has joined the team as Chief NFT Officer. Josh has 6 years of crypto related experience, having transacted and owned various types of assets on many of the top Crypto/Defi protocols and platforms. Josh is an investor, advisor and contributor to various startups and DAOs operating in Crypto.
Other related developments from around the markets include:
Coinbase Global Inc. notes, “We want to help pull all the pieces of identity together — essentially creating an identity on-ramp into the Metaverse. That’s the idea behind our work with ENS, which makes it possible to create a unique username NFT that resolves to a wallet. Eventually, this will allow users to carry a unique ID across different worlds in the Metaverse. We’re also working on technology that will allow you to purchase your avatar, define and maintain your public profile, and establish trust. And we’re working on features like Sign in with [Eth/Coinbase], which could allow users to sign into every app in the Metaverse.”
With Meta Platforms, Goldman Sachs says, as quoted by TheStreet.com, the company has “leading scale within the digital advertising industry and market-leading innovation with regard to longer-dated augmented reality/virtual reality and metaverse initiatives.”
Galaxy Digital Holdings Ltd. and its affiliate Galaxy Interactive, announced a first-of-its-kind partnership with TIME, commencing with the launch of the newly created TIME100 Companies Metaverse category, featuring entrepreneurs building a more immersive virtual future. Designed to educate its readers on the rapidly expanding and evolving metaverse, the Galaxy-TIME partnership will include a new weekly TIME newsletter, ‘Into the Metaverse,’ written by Andrew Chow. The newsletter will explore the ways our physical and digital selves are becoming increasingly intertwined, highlight communities that are rapidly emerging in new virtual worlds, and engage with leaders at the forefront of the transformations in business, innovation, and culture taking place within the metaverse.
NVIDIA Corporation’s CEO Jensen Huang believes we’re on the cusp of the metaverse. In fact, according to Coin Telegraph, the CEO stated, “There will be AR versions, where the art that you have is a digital art. You own it using NFT. You’ll display that beautiful art, that’s one of a kind, and it’s completely digital. You’ll have our glasses on or your phone. You can see that it’s sitting right there, perfectly lit, and it belongs to you. We’ll see this overlay, a metaverse overlay if you will, into our physical world.”
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