The Toronto-based firm, which trades on the Cboe Canada exchange, said in a release Wednesday the board has formed an independent committee to explore a potential sale amid a prolonged downturn in both the cryptocurrency and metaverse sectors. (The Logic)
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The Toronto-based firm, which trades on the Cboe Canada exchange, said in a release Wednesday the board has formed an independent committee to explore a potential sale amid a prolonged downturn in both the cryptocurrency and metaverse sectors. (The Logic)
Talking point: The strategic review could mark the end of a roller-coaster ride for Tokens.com, which made international news in 2021 for purchasing virtual land in metaverse platform Decentraland for a record US$2.4 million worth of crypto. The company is now exploring the sale of that digital real estate, according to the release, and management is “disappointed” in the performance of its metaverse subsidiary. Tokens.com holds about US$8.1 million worth of crypto tokens—roughly US$1.4 million of which is held by Genesis Global Trading, which filed for bankruptcy in January. “Some or all of those holdings may not be recovered,” the company said in the release.
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