Greenpro Capital (GRNQ) Acquires $16 million in Non-fungible Tokens

April 22, 2021 9:08 AM EDT
Get Alerts GRNQ Hot Sheet
Price: $1.66 -1.78%

Overall Analyst Rating:
    NEUTRAL (= Flat)

Trade Now! 
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Greenpro Capital Corp. (NASDAQ: GRNQ) today announced that it has acquired a limited edition exclusive series of 7,700 NFTs depicting the 1957 Sputnik satellite launch.

GRNQ bought this exclusive series of 7,700 NFTs for $16 million paid via 4.32 million GRNQ restricted shares and 1 million MFAI shares owned by GRNQ previously issued in May 2020 for its sale of 4% of the Millennium Sapphire. The NFTs are valued at 1 ETH each.

The animated Sputnik NFT series is being sold to the Company by a GRNQ incubation company from last year, Millennium Fine Art Inc. (MFAI) MFAI has built a NFT studio business with prominent artists utilizing animation studios. MFAI owns the Millennium Sapphire and is conducting a Security Token Offering "STO" in late May 2021. MFAI's main business model is NFT production and fine art masterpieces.

Millennium Fine Art CEO, Daniel Mckinney said: "we are proud to be working with GRNQ on this ground breaking institutional NFT deal. GRNQ continues to innovate in digital assets and trail blaze."

GreenPro CEO Dr.CK Lee said: "We are thrilled to acquire this valuable and exclusive NFT series which will not be sold or available anywhere else. We are planning a series of corporate actions around this unique NFT series. One of GRNQ's primary business focuses is blockchain and fintech."

The representation of the Sputnik Satellite on the Millennium Sapphire is a millennia-long commemoration of this significant accomplishment for the current generation and those to come.

Please view the Sputnik lapis prototype:

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Management Comments

Related Entities

Definitive Agreement