TORONTO - (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 web3 assets and builds businesses linked to crypto staking, the metaverse and play-to-earn gaming, provides an update on its digital asset inventory. In consideration of volatile crypto prices and the ongoing turmoil caused by the bankruptcy of FTX and BlockFi, Tokens.com has sold some of its tokens in inventory in favour of holding cash.
Specifically, Tokens.com has sold some of the staking rewards it has generated this year and divested of its smaller non-core holdings of Oasis Rose, ANKR, Mana and SHIB. Gross proceeds of these sales amount to approximately CAD$1.4 million. Consequently, the rebalancing to hold more cash on our balance sheet eliminates some of the volatility associated with current crypto prices. Tokens.com continues to focus on holding Layer 1 digital assets (primarily Ethereum and Polkadot) post the rebalancing.
The overall impact will be that Tokens.com will own a fewer number of Layer 2 assets and hold more cash. Tokens.com remains well capitalized with a strong cash balance and an inventory of blue chip tokens that enable it to withstand a prolonged crypto winter. Management’s top priority is to ensure that Tokens.com remains a viable entity under all market conditions and reduces corporate overhead to meet market conditions. Our key subsidiaries, Metaverse Group and Hulk Labs, continue to show increased revenue and growth within their respective web3 categories.
“The events at FTX and BlockFi have had a negative impact on the crypto space, although the issues there were caused by human negligence, not because of crypto itself,” said Andrew Kiguel, CEO of Tokens.com. “Despite this, we have made the decision to de-risk our balance sheet by selling some digital assets to boost our cash reserves. While this eliminates some potential upside from holding those tokens, we believe the company is better served by preparing for what could be a prolonged downward cycle for crypto and technology stocks.”
Tokens.com is not an exchange. The Company does not engage in using derivative products or in lending out its tokens. The large majority of our assets are self-custodied. While Tokens.com does hold digital assets for the purpose of staking, its metaverse and gaming businesses are not linked to the price fluctuations within the cryptocurrency sector.
Iwwer Tokens.com
Tokens.com Corp ass eng ëffentlech gehandelt Firma déi an Web3 Verméigen investéiert a Web3 Geschäfter baut. D'Firma konzentréiert sech op dräi Operatiounssegmenter: i) Krypto Staking, ii) de Metaverse an, iii) Play-to-Earn Krypto Gaming. Tokens.com besëtzt digital Verméigen a Betribsbetriber an all eenzel vun dësen dräi Segmenter.
Staking Operatiounen geschéien bannent Tokens.com. Metaverse Immobilien an ecomm3 Léisungen Operatiounen geschéien bannent enger Duechtergesellschaft genannt Metaverse Group. Crypto Gaming Operatiounen geschéien an enger Duechtergesellschaft genannt Hulk Labs. All dräi Geschäfter si verbonne mat der Notzung vun der Blockchain Technologie a si verbonne mat héije Wuesstum Makrotrends bannent Web3. Duerch Ressourcen an Infrastrukturen iwwer dës Geschäftssegmenter ze deelen, ass Tokens.com fäeg dës Geschäfter effizient vun Ufank bis Akommesgeneratioun ze inkubéieren.
besicht Tokens.com ze léieren méi.
Bleift um neiste Stand vun Tokens.com Entwécklungen a maacht mat bei eis Online Communautéiten op Twitter, LinkedIn, an YouTube.
Zukunftsgeriicht Aussoën
Dës Pressematdeelung enthält bestëmmte Forward-sicht Aussoen souwéi d'Ziler, Strategien, Iwwerzeegungen an Intentiounen vum Management. Forward-sicht Aussoe ginn dacks identifizéiert duerch sou Wierder wéi "kann", "wäerten", "planen", "erwaarden", "virauszesoen", "schätzen", "absicht" an ähnlech Wierder, déi op zukünfteg Eventer a Resultater bezéien. Forward-sicht Aussoen baséieren op déi aktuell Meenungen an Erwaardunge vun der Gestioun. All Forward-sicht Informatioun ass natierlech onsécher an ënnerleien enger Vielfalt vun Viraussetzungen, Risiken an Onsécherheeten, dorënner d'spekulativ Natur vu Krypto-Währungen, wéi méi detailléiert beschriwwen an eise Wäertpabeieren verfügbar op www.sedar.com. Tatsächlech Eventer oder Resultater kënne wesentlech ënnerscheeden vun deenen, déi an de viraussiichtlechen Aussoen projizéiert sinn, a mir virsiichteg géint ongerecht Vertrauen drop ze setzen. Mir iwwerhuelen keng Verpflichtung fir dës Forward-sicht Aussoen ze iwwerschaffen oder ze aktualiséieren, ausser wéi néideg vum applicabele Gesetz.
Kontakter
Tokens.com Corp.
Andrew Kiguel, CEO
Telefon: + 1-647-578-7490
Email: [Email geschützt]
Jennifer Karkula, Kommunikatiounschef
Email: [Email geschützt]
Media Kontakt: Ali Clarke - Diskussioun Shop Media
Email: [Email geschützt]
Source: https://thenewscrypto.com/tokens-com-provides-update-on-token-sales/