Token.com wants to seize the opportunities offered by non-fungible tokens (NFTs) and decentralized finance, and is investing a record amount in a virtual real estate company. Token.com is using big money to dive into the metaverse and become a real estate owner, a move that embodies a sweeping trend in crypto investing.
Token.com and Metaverse Group: a record-breaking equity investment
Canadian startup Token.com, has announced an agreement regarding the acquisition of a 50% stake in virtual real estate company, Metaverse Group, for over C$1.68 million. This acquisition would be the most important in a virtual real estate company.
The acquisition will allow Tokens.com to offer asset offerings to public retail investors seeking greater exposure to NFTs and DeFi.
Property management in the metaverse: new opportunities for owners
Metaverse Group’s business is similar to that of a traditional real estate company. It acquires, develops, and manages real estate. The company also handles the marketing and promotion of these properties. Unlike a traditional real estate company, however, Metaverse Group uses blockchain, leverages video games, NFTs, and other technologies that make up the metaverse.
Metaverse Group has recognized land and properties in popular metaverses such as Decentraland, The Sandbox, and Somnium Space.
Token.com CEO Andrew Kiguel spoke about the opportunities offered by metaverses:
“The Metaverse is a game changer in the way advertisers and brands market their products. As more people gather in these virtual cities, the field is increasingly sought after for its ability to reach a new global demographic. Metaverse Group has the potential to become a major owner and developer using the same strategies used by physical property managers.”
This metaverse craze is generating excitement even from a social networking giant like Facebook, which launched a $50 million research and development fund in this area in September 2021 and just announced 10,000 hires in Europe to explore this budding industry.
Investment firms are increasingly interested in metavers that could be the future of cryptocurrencies, gaming, DeFi, and real estate. Token.com is investing in Metaverse Group to be part of the virtual real estate developers that are lining their pockets with cryptocurrencies.
