News Corp. (SMURF) – An Acquisition for the New Year

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Wednesday, January 04, 2023 Corp is a publicly traded company that invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming based digital assets. is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned subsidiary, focuses on investing in play-to-earn revenue generating gaming tokens and NFTs. Additionally, owns and stakes crypto assets to earn additional tokens. Through its growing digital assets and NFTs, provides public market investors with a simple and secure way to gain exposure to Web3.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

A New Acquisition. Yesterday,’s subsidiary Metaverse Group announced the acquisition of CocoNFT. As part of the acquisition, Coco’s co-founders Mark Allen and Brody Berson will be joining the Metaverse Group as Chief Technology Officer and Chief Product Officer respectively and will be focused with building further tools and products for both NFT and virtual world applications. No financial details were given for the transaction. 

Detail on CocoNFT. CocoNFT is a software platform that allows users to connect their Instagram to mint NFTs, leveraging the blockchain and a web3 wallet. In acquiring the company, Metaverse Group will work to advance Coco’s technology offering and integrate the products with its virtual world B2B offerings. The acquisition will leverage Coco’s strategic partnerships in Opensea and Rarible and online communities with over 45,000 followers across TikTok and Twitter.

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