Tuesday, January 24, 2023
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, Managing Director – Generalist 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.
Genesis Global. In a recurring theme in the crypto space lately, last week Genesis Global Holdco LLC, the holding company of troubled cryptocurrency lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection. Notably, in its filing, Genesis Global Capital said it expects that through the restructuring process, there will be money left over to pay unsecured creditors.
Tokens.com Impact. Tokens.com has an open loan facility with Genesis, for which the Company is required to post collateral in token assets. Based on the closing price on January 19, 2023, this collateral was worth US$749,000. Tokens.com has a loan outstanding against this collateral of US$138,000. The difference between the collateral and the loan value represents approximately 3.1% of Tokens.com’s total assets of US$20.0 million as at September 30, 2022. Tokens.com has requested to have its collateral returned and repay the loan outstanding in full.
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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.