News

Tokens.com Corp. (SMURF) – Selling Some Coin

Business
0 min read


Tuesday, December 13, 2022

Tokens.com Corp is a publicly traded company that invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming based digital assets. Tokens.com is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned Tokens.com subsidiary, focuses on investing in play-to-earn revenue generating gaming tokens and NFTs. Additionally, Tokens.com owns and stakes crypto assets to earn additional tokens. Through its growing digital assets and NFTs, Tokens.com 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.

Getting More Cash. Last week, Tokens.com announced the selling of some of the Company’s cryptocurrency inventory in favor of holding cash. This is due to the current volatile environment recently highlighted by the fall of FTX and BlockFi. We believe the selling of cryptocurrency will allow the Company to ride out the volatility of the market and allow the Company to be strategic in future coin purchases.

What Was Sold and Impact. In regards to what was sold from Tokens.com, the Company sold some of the staking rewards generated this year and its smaller non-core holdings of Oasis Rose, ANKR, Mana, and SHIB. The total gross proceeds of the sales is approximately CAD$1.4 million. The Company will now own less Layer 2 assets, although it will continue to focus on holding Layer 1 digital assets including Ethereum and Polkadot.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Comments

0
No comments yet...
Share

Inbox Intel from Channelchek.

Informed investors make more money. And it’s all about timing. Get it when it happens.

By clicking submit you are agreeing to the Terms of Use and Privacy Policy
© 2018-2023 Noble Financial Group, Inc. All Rights Reserved. Channelchek is provided at no cost to be used for information purposes only and not as investment advisement.