Coinsilium Group Limited (COIN)
COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Coinsilium Group Limited: Coinsilium signs SAFT and advisory agreement with P2E gaming group GGs.io
London UK, 22 June 2022 - Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Blockchain and Open Finance venture builder, is pleased to announce its appointment as advisors to Delaware-registered GGs.io Company (“GGs.io”) and that it has entered into a Simple Agreement for Future Tokens (“SAFT”) with GGs.io to purchase USD100,000 of future GGs.io tokens, the utility token of the GGs.io gaming ecosystem. GGs.io aims to build Latin America’s first blockchain gaming hub while promoting Web3 education and social mobility.
Eddy Travia, CEO of Coinsilium, commented:
“One of the earliest and better known successes in blockchain gaming and Play-to-Earn (“P2E”) has been A16Z-backed Axie Infinity which peaked at 2.7 million daily active users in November 2021, coinciding with its token price all-time high (‘AXS’) on the back of a raise at a USD3bn valuation by its creators, Vietnam-based Sky Mavis. Despite AXS lower performance today, there are clear similarities between Axie Infinity’s original market - Southeast Asia and mainly The Philippines - and the Latin American or ‘Latam’ market. These similarities are: weak and volatile currencies, high levels of youth unemployment, a high proportion of unbanked and a high mobile penetration. Due to these similarities, it is our view that Latam has the potential to become a major blockchain gaming market in the future. GGs.io is not tied to a specific game and aims to replicate the popular gaming guild’s model in its target market.
We are therefore very excited to participate in this pre-seed round for GGs.io and to be advising their highly experienced team.”
Nicolas Cortes, Co-founder at GGs.io, commented:
“Coming from web2 gaming and e-sports in Latin America, we see blockchain as the future of gaming and believe emerging regions such as Latam are the perfect early adopters for this new niche. We’ve developed a community of over 100,000 midcore and hardcore gamers in GGs.io and want to offer them opportunities in the quality titles that are launching or soon to be launched in the space. Our platform will educate gamers in blockchain gaming and generate adoption from web2 to web3 while also matching them with top earning opportunities with AAA title focused guilds, e-sports organisations, and game publishers in the ecosystem. We’re excited to have Coinsilium as a first check investor and strategic advisor within our team.”
Terms of the SAFT
Under the terms of the SAFT, Coinsilium will receive USD100,000 in value of GGs.io tokens. The tokens will vest over a period of time after the GGs.io token generating event takes place. The Company cannot disclose at this stage specific details regarding the price or the number of tokens to be received. Further details will be provided by way of an update to the market in due course, when the Company is in a position to do so.
Coinsilium has agreed to provide strategic advisory services to GGs.io over a period of time up to and beyond the GGs.io token generation event. The services will include strategic advice on token economics, growth strategy and partnerships. Terms pertaining to advisory engagements are commercially sensitive and subject to confidentiality agreements.
Background to GGs.io
GGs.io is aiming to create social mobility in Latin America through blockchain gaming. GGs.io is a platform that ushers web2 gamers into web3 by providing practical blockchain education and matching them with top earning opportunities with guilds, web3 e-sports organizations, and game publishers.
GGS will be the native token of the GGs.io ecosystem alongside with the future GGs DAO aiming to be the decentralized gaming community of Latin America. Utility and governance features will be announced in the future alongside a full whitepaper.
The Directors of Coinsilium Group Limited take responsibility for this announcement.
Notes to Editor
Coinsilium is a focused Blockchain and Open Finance venture operator 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 NFT 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 a 50:50 venture with IOV Labs in Singapore, enabling the promotion and commercialisation of RSK's products, services and technologies in global markets; and has partnered with blockchain technology experts Indorse to create Nifty Labs, a 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".
GGs.io is a blockchain gaming platform aiming to create social mobility in Latin America. GGs.io provides free education and earning opportunities for web2 midcore and hardcore gamers in the region matching them with top guilds, web3 e-sports organizations, and game publishers.
GGs.io has built an organic community of over 100,000 gamers at an early stage and its founding team has wide expertise building gaming communities and esports events for top brands such as Razer, Red Bull, Claro Gaming, Movistar, ViacomCBS, Supercell, and others over the past 5 years.
GGs.io recently closed its pre-seed round of funding raising over $1.1 Million USD from top investors in the space including Coinsilium, Orange DAO, Boost VC, Ripio, as well as strategic angels from BAYC and the entertainment industry.
GGs.io is looking to decentralize its community in the future as the strongest web3 audience of top gamers in Latin America earning and growing a side or full-time career in blockchain gaming & e-sports through its platform.
Press contact: email@example.com
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