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Coinsilium Group Limited: Web3 Crypto Investment Portfolio Update
Coinsilium Group Limited (COIN) COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium Group Limited: Web3 Crypto Investment Portfolio Update
London UK, 02 February 2023 - Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Web3 investor, advisor, and venture builder is pleased to provide an update on its portfolio of Web3 Crypto Investments.
Over the course of 2022, Coinsilium deployed the equivalent of USD575,000 from its crypto treasury reserves to invest into several pre-seed and seed-stage Web3 focused ventures in the DeFi, Metaverse, Crypto Trading, Play and Earn Gaming, and Fashion space. Coinsilium also entered into advisory service agreements with most of these new ventures.
These Web3 ventures are aiming to issue a utility token at a future stage through a Token Generation Event (“TGE”). The Token will represent the economic interests of all participants and stakeholders in the project, including the founders, investors and the community of users of their services. As an early stage investor and advisor, Coinsilium’s economic interests in each venture takes the form of an entitlement to future tokens to vest in accordance with the terms set out in each individual investment and/or advisory agreement.
Yellow Network
Yellow is a decentralised layer-3 peer-to-peer network that uses state channel technology to securely exchange liquidity & facilitate trading, clearing, settlement, and compliance. By design, Yellow Network solves the problem of liquidity fragmentation and introduces a network of broker nodes for a more efficient and truly decentralised trading infrastructure.
On 21 April 2022, Coinsilium announced an investment of USD200,000 under a Simple Agreement for Future Tokens ("SAFT") with Layer3 FinTech Ltd in return for a yet-to-be-determined number of YELLOW tokens, the native token of Yellow Network.
On 28 January 2023, Yellow Network successfully completed a VIP funding round on the LaunchBlock platform selling 2,631,578 Yellow tokens at a unit price of USD0.038. This price represents a minimum of 3x uplift from the price at which Coinsilium’s Yellow tokens are expected to be allocated.
Silta Finance
Silta Finance AG is a Swiss registered company building a bridge connecting Decentralised Finance (DeFi) to fund sustainability-conscious infrastructure projects. The Silta Impact Marketplace is the meeting place where borrowers and financiers can connect with each other to make sustainable infrastructure projects a reality. Silta conducts due diligence and sustainability impact scoring on borrowers’ debt financing applications, assigning them a specific Silta Score.
On 5 May 2022, Coinsilium announced it had entered into an Advisory Agreement and Early Contribution Agreement (“ECA”) for USD75,000 in return for a yet-to-be-determined number of future SILTA tokens, the utility token of the Silta ecosystem, to vest over a period of time.
Silta has recently announced the launch of the Silta Impact Marketplace decentralised application (desktop version available on silta.finance). This version includes a list of sustainability projects already pre-qualified by Silta, and a borrower portal where borrowers can register, manage and submit loan applications.
In his end of year update, Silta’s CEO, Ben Sheppard, announced that Silta has started to enter into commercial contracts with several borrowers aiming to build renewable energy projects in South America.
The Silta Score, which reflects the creditworthiness and the social and environmental impact of an infrastructure project, has progressed significantly and Silta is now testing three versions of its due diligence methodology.
Silta is currently undertaking due diligence on the first three solar projects:
Silta charges transaction advisory fees at various stages of the borrowers project lifecycle from due diligence, financial close and loan administration.
Ben Sheppard also recently recorded a CEO Q+A session arranged by Queso Finance for Coinsilium shareholders which can be viewed here:
GGs.io
GGs.io is an organisation founded with the purpose of bringing new experiences and earning opportunities to gamers. Their efforts are aimed at forging a space where players from all over the world can win prizes by playing games, competing or just relaxing. All members of the organisation are passionate about gaming and are committed to providing an optimal experience and as many benefits as possible to users. The GGs.io founding team members have contributed in the build of successful e-sports ventures in Latam, launching and operating successful communities and events for brands such as Razer, Red Bull, Claro Gaming, ViacomCBS and Supercell, among others, over the past five years.
On 22 June 2022, Coinsilium announced that it has entered into an Advisory Agreement and SAFT with GGs.io for USD100,000 in return for a yet-to-be-determined number of future GGs.io tokens, the utility token of the GGs.io gaming ecosystem.
Since then, GGs.io has demonstrated constant progress and has been busy building a growing community of gamers which has now reached 170,000 members.
In addition to Coinsilium, GGs.io investors include California-based Boost VC led by Adam Draper, and Ripio Ventures, the venture arm of Ripio, a major player in the cryptocurrency space in Latam. The GGs.io team recently joined the first mentorship program of Orange DAO, a Web3-focused fund created by Y Combinator alumni.
As explained by Nicolas Cortes, CEO of GGs.io, in this recent interview published by Queso Finance, the Latin American market represents a most exciting opportunity for Web3 gaming and GGs.io soon expects to unveil its marketplace which will enable gamers to play and earn from GGs.io’s partners and clients.
https://www.youtube.com/watch?v=Yx-25ayfw9w&t=19s
Metalinq Labs
On 25 July 2022, Coinsilium announced its backing of Metalinq, a metaverse interoperability layer-3 protocol, with USD200,000 as initial pre-seed funding in return for a yet-to-be-determined number of future $MLINQ tokens to be distributed over a vesting period.
Metalinq is aiming to solve one of the main barriers to the broad adoption of blockchain-based metaverse: the interoperability of unique digital assets (i.e. NFTs) between different metaverses.
Ethereum Improvement Proposal 5606
In September 2022 Gaurang Torverkar, Metalinq’s co-founder, submitted a proposal for a new Multiverse NFT standard, ERC-5606. The proposal is currently under peer review by the Ethereum developer community and can be accessed via the Ethereum website here: https://eips.ethereum.org/EIPS/eip-5606.
As stated by Gaurang in the proposal, the need for the new standard protocol is very clear “if a brand releases a new sneaker across various metaverses, it would be minted as a separate NFT on each platform. However, it is, in reality, the same sneaker. There is a need to represent the relationship and transferability of these types of NFTs (...). The ecosystem needs a better framework to address this issue (...)”.
In November 2022, a Medium article was published expanding on the rationale behind the Metalinq Multiverse NFT as a universal representation of multiple NFTs as a single digital asset across various metaverses and gaming platforms:
https://medium.com/coinmonks/multiverse-nft-eip-5606-f7494bce2152.
The development of a new ERC standard is a rare event and we believe it demonstrates the technical talent and vision of the Metalinq team. Should the EIP be approved by the Ethereum Community it will become the very first ERC standard for Metaverse interoperability which has the potential to become a core driver for global adoption and bodes extremely well for Metalinq’s future prospects.
Investors can view a presentation on the Metaverse and NFTs featuring Coinsilium CEO Eddy Travia and Metalinq Co-founder Gaurang Torvekar which was delivered to members of the Gibraltar Association of New Technology (“GANT”) on 27th January 2023:
Blvck Paris
Blvck Paris is a global lifestyle fashion brand. Founded in 2017, Blvck Paris pioneered an engaged community that loves the colour black and aspires to the aesthetic and monochrome lifestyle, pursuing quality and design. Today, the brand is home to an impressive collection of lifestyle clothing, accessories and digital goods.
On 18 February 2022, Coinsilium announced it had been appointed as advisor to Blvck Paris for the launch of its 'Blvck Genesis' NFT collection. Coinsilium acted as main backer for the Genesis Collection drop and currently holds 252 Blvck Genesis NFTs. The Blvck Genesis collection is traded on the Opensea NFT Marketplace.
https://opensea.io/collection/blvckgenesis
On 10 January 2023, Blvck Paris announced its product collaboration with Fortnite, an online video game developed by Epic Games with a consistent monthly active player-base of around 80 million. The co-branded lifestyle collection propels the Blvck Paris brand to the Fortnite community and builds on a number of impressive partnerships it has already announced to date.
Blvck Paris is also maintaining a high level of engagement with the Genesis NFT community and we look forward to Blvck Paris future Web3 initiatives which will create more opportunities for Coinsilium to generate further value from this relationship.
Eddy Travia, Coinsilium Chief Executive, shares his thoughts about the outlook for 2023:
“Despite the second half of 2022 being well entrenched in ‘crypto winter’, 2023 has started very differently. Just a few days ago, the Bitcoin price approached USD24,000 representing over a 50% increase since a month prior and Goldman Sachs has now ranked Bitcoin the best-performing asset so far this year. The total cryptocurrency market capitalisation, which had nosedived near to USD800Bn in November 2022 has remained above USD1Tn for the last forteen days of January. But more importantly, we are now seeing a notable change in market sentiment within the industry, with a much more optimistic outlook, in sharp contrast to the December 2022 sentiment.
With most cryptocurrency prices still trading well below their peaks, this represents a unique window of opportunity for companies such as Coinsilium. Whilst Coinsilium’s crypto portfolio has historically been denominated mainly in BTC and ETH, given the marked improvement in market conditions, we will now be looking to diversify our crypto allocation on a selective basis.
Additionally, the valuations we are now seeing for new Web3 projects are also becoming much more realistic and it is clear that the balance of power has, for now, firmly shifted back to investors.
We therefore believe that, as an advisory and investing firm with a long experience in this space, Coinsilium is in an excellent position to take advantage of the improving market conditions as we look towards an exciting 2023 for the Company and shareholders.”
The Directors of Coinsilium Group Limited take responsibility for this announcement.
Notes to Editor
About Coinsilium
Coinsilium is a focused Web3 Investor, Advisor and Venture Builder based in Gibraltar, a pre-eminent global regulatory jurisdiction and a leading hub for innovative financial technology. In 2015, Coinsilium became the first blockchain company to IPO. The Company has evolved to develop revenue-generating strategic advisory services and is a highly regarded innovator with proven technological and commercial expertise and development capabilities in the Web3 arena and also within Open Finance.
Coinsilium has developed an array of commercial partnerships and joint ventures around the world to support its development capabilities, giving it access to best-in-class tech experts, a strong network, and asserting its profound industry profile. It has also partnered with blockchain technology experts Indorse to create Nifty Labs, a Web3 and Non-Fungible Token ('NFT') technology development studio in Gibraltar.
Coinsilium shares are traded on the AQSE Growth Market in London, under the ticker symbol "COIN", and on the OTCQB Venture Market in the United States under the ticker symbol "CINGF". |
| ISIN: | VGG225641015 |
| Category Code: | MSCM |
| TIDM: | COIN |
| Sequence No.: | 220121 |
| EQS News ID: | 1549417 |
| End of Announcement | EQS News Service |