Coinsilium Group Ltd (AQSE:COIN, OTCQB:CINGF) has agreed a deal to acquire Tokenomi, a blockchain and Web3 advisory services firm, which would see the company onboard projects generating around US$663,400 this year alone.
It is paying £116,500, comprising £19,000 in cash and £97,500 in shares, to acquire the business with the transaction expected to close by the end of April.
Tokenomi’s advisory book currently includes four retained Web3 blockchain project clients, predominantly in Southeast Asia, with a prospective pipeline of ten further project clients.
Coinsilium chief executive, Eddy Travia, described the transaction as “a most timely and potentially transformational development”.
“[Tokenomi] will provide us with a sound base from which to scale up our advisory services capacity, in preparedness for a strong wave of activity now developing in the Web3 space,” Travia said in a statement.
“Since the initial bounce in the crypto markets at the start of the year, we have seen a marked uptick in the demand for Web3 advisory services from brands, game studios, online and offline retailers, media, and sports franchises.
“We now expect this trend to grow stronger in the near term, in line with the overall recovery in the crypto markets.”
Alexis Nicosia, Tokenomi founder and managing director, added: “Coinsilium’s well-established reputation, credibility, and experience together with Tokenomi’s current and growing pipeline of Web3 advisory clients, make the basis for a powerful market-leading combination.
“I look forward with excitement to the next stage of our journey together, working closely with Eddy and the talented Coinsilium team whilst supporting our mutual clients on their exciting Web3 journey and positioning Coinsilium to take full advantage of some of the exciting commercial opportunities the burgeoning Web3 space has to offer.”