Vancouver Crypto Startup CocoNFT Acquired by Metaverse Group
January 4, 2023 by Knowlton Thomas Leave a Comment
Proof-of-take firm Tokens.com is acquiring Vancouver-based non-fungible token startup CocoNFT.
Toronto's Tokens.com is acquiring CocoNFT through subsidiary Metaverse Group with plans to integrate Coco's technology and assets, the firm announced this week.
The transaction will see Coco cofounders Mark Allen and Brody Berson join Metaverse Group as Chief Technology Officer and Chief Product Officer respectively, according to a statement from the company.
"This provides us with the ability to continue to build applications for new web3 users," stated Allen of the acquisition.
Coco's software platform allows users to mint NFTs from their Instagram, leveraging blockchain and web3. Such a tool has many applications for creators and brands, according to Allen—now even more so with Metaverse's resources.
"We can reach more brands and influencers giving them the tools they need to engage with their customers and fans," he says. "I am excited to lead the technical team and build out new products within the metaverse."
Metaverse Group says it will work to advance Coco's technology offering and integrate the products with its virtual world B2B offerings. The company also cited Coco's "strategic partnerships" and the online communities that the startup has built across TikTok and Twitter.
"We see CocoNFT's proprietary technology as being at the forefront of developing and expanding web3 and NFT use cases," said Andrew Kiguel, CEO of Tokens.com and Executive Chair of Metaverse Group.
Metaverse Group says it will use Coco's platform "to engage with creators and brands and ultimately develop one-on-one marketing strategies" as well as "come to market with its own proprietary NFT and virtual world products."
"The new platform and tools from Coco NFT will further improve Metaverse Group's ability to provide brands and businesses with more creative and impactful ways to connect with their audiences," added Kiguel.
Last year, Tokens.com listed on the NEO Exchange under the symbol COIN.
Filed Under: News Tagged With: cocoNFT, Metaverse Group, Tokens.com