Quick take:
- Metaverse Group has acquired the NFT platform CocoNFT.
- The Tokens.com subsidiary will now offer NFT minting and web3 wallet services to Instagram users.
- Metaverse Group will work with CocoNFT to integrate its technology offerings with its metaverse B2B products.
Metaverse Group is advancing its product offering with the acquisition of the web3 platform CocoNFT. The Tokens.com subsidiary said it will integrate Coco’s technology offerings with its virtual world B2B products as a part of an ecosystem expansion that will see it offer NFT minting and web3 wallet services to Instagram users.
According to the announcement, Coco’s co-founders will now join the Metaverse Group team. Mark Allen whose CV includes architectural and software engineering at leading technology company Hootsuite will now assume the position of Chief Technology Officer at Metaverse Group.
On the other hand, his CocoNFT co-founding partner Brody Berson who takes the position of Chief Products Officer spent more than three and half years as an App Integrations Engineer at Zapier.
The two will spearhead the development team in building new tools for both NFT and virtual world applications.
“We are pleased to welcome the CocoNFT team to Metaverse Group. 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. “Furthermore, 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.”
Tokens.com has been advancing its digital assets investment strategy through partnerships with leading brands. In November, the company teamed up with AIR MILES to launch an NFT loyalty program for brands. Earlier in 2022, the company collaborated with global fashion brand Forever 21 to launch a virtual storefront in the metaverse.
This acquisition will also help Metaverse Group leverage Coco’s strategic partnership with leading NFT marketplaces OpenSea and Rarible. The company plans to launch its own proprietary NFT and virtual world products.
“This provides us with the ability to continue to build applications for new web3 users,” said Mark Allen Metaverse Group CTO, and CocoNFT Co-founder. “As part of Metaverse Group, we can reach more brands and influencers giving them the tools they need to engage with their customers and fans. I am excited to lead the technical team and build out new products within the metaverse.”
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