The non-fungible tokens, or NFTs market could have significant potential. So much so, analysts at Jefferies just raised their market forecast for NFTs to $35 billion for 2022, and to more than $80 billion by 2025. The analysts added that, “companies and celebrities are buying plots of virtual ‘land’ in The Sandbox and Decentraland, allowing them to digitally market, raise awareness and extend their brands. In November, there was a rush into digital real estate purchases, for which NFTs are the ‘digital building blocks.’” 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).
Look at Tokens.com Corp. (NEO:COIN)(OTCQB:SMURF), For Example
Tokens.com Corp., publicly-traded company that invests in crypto assets linked to the Metaverse, Decentralized Finance, Non-Fungible Tokens and Play-to-Earn Gaming is pleased to share that its wholly-owned subsidiary company, Hulk Labs, has purchased CryptoPunk #5067 to add to its NFT collection.
CryptoPunks are 10,000 human, Zombie, Ape and Alien avatars, algorithmically generated with unique traits, launched in 2017 from Lava Labs. CryptoPunks are recognized as one of the first NFT collections that inspired the ERC721 standard and the concept of NFTs on Ethereum.
Celebrities such as Jason Derulo, Jay-Z, Gary Vaynerchuk, football player Odell Beckham Jr, Snoop Dogg, Serena Williams, and companies such as Visa have all collected CryptoPunks.
CryptoPunk #5067 features a female from the icon Larva Labs collection with the following traits: 1 of 147 Red Mohawks, Classic Shades and an Earring. Hulk Labs plans to stake the NFT on NFTX vaults to earn income from this asset. CryptoPunks are a mature asset class, having completed over $2 Billion Dollars in volume to-date.
“Tokens.com is one of the only publicly traded companies to hold its own Cryptopunk,” said Andrew Kiguel, CEO of Tokens.com. “Since CryptoPunks can now be staked, we have the ability to own this unique asset class and also generate recurring revenue from it. This is in line with our philosophy of holding crypto assets that can appreciate in value and generate income.”
Other related developments from around the markets include:
Coinbase Global Inc. just announced that, “Tobias ‘Tobi’ Lütke, CEO and founder of Shopify, will join Coinbase’s Board of Directors. Tobi brings a wide variety of skills and expertise to the Coinbase board. First and foremost, he is a tremendous entrepreneur, building Shopify from the ground up into a global commerce leader. He also deeply believes in the power of crypto and was an early adopter of crypto through Shopify’s integration with Coinbase Commerce. Serving millions of merchants in more than 175 countries, Shopify sits at the nexus of three important areas that crypto seeks to revolutionize: Finance and payments, web applications, and the internet itself.”
Meta Platforms announced that Tony Xu, co-founder and CEO of DoorDash, Inc., has been elected to the company’s board of directors, effective immediately. Mark Zuckerberg, founder and CEO of Meta, said, “Tony has built a great service for millions of people to get food and more from hundreds of thousands of restaurants and small businesses. I’ve always thought it’s important to have great tech leaders on our board, and Tony has direct experience both running a tech company and solving complex challenges in commerce. I look forward to learning from his perspective as we build towards the metaverse.”
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 set out the next direction of the ultimate platform for gamers and creators, unveiling more than 160 gaming and Studio GeForce®-based laptop designs, as well as new desktop and laptop GeForce RTX® GPUs and technologies. The company also announced new RTX-accelerated content, and the expansion of both GeForce NOW™ cloud gaming and the NVIDIA Studio ecosystem, including the launch of NVIDIA Omniverse for creators. “GeForce RTX is transforming gaming and opening up vast digital worlds. Today’s announcements further establish GeForce as the ultimate platform for gamers and creators,” said Jeff Fisher, senior vice president of consumer products at NVIDIA. “And GeForce NOW continues to grow as our platform for reaching billions of gamers.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Tokens.com Corp. by Tokens.com Corp. We own ZERO shares of Tokens.com Corp. Please click here for full disclaimer.
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