Nsav To Acquire Minority Stake In Technicorum Holdings, Expands Presence In $163 Billion Global Blockchain Market
Net Savings Link, Inc. a cryptocurrency, blockchain and digital asset technology company, announced that the company has entered into a definitive agreement to acquire a significant minority stake in Singapore based Technicorum Holdings, a global investment and compliance company and further expanding into the $163 billion annual global blockchain market. Under the terms of the agreement, NSAV will acquire a 5% stake in Technicorum Holdings, with an option for an additional stake, putting Technicorum Holdings at a post-money valuation of $120 million. Technicorum Holdings, a group specializing in digital assets, is poised to enable NSAV to become more deeply entrenched in the blockchain industry. With expertise in ICO’s, IEO’s and IDO’s, and over the past year, into DeFi and NFT’s, as well as recently, GameFi, SocialFi, and the Metaverse, this partnership is a great enabler for both NSAV as well as Technicorum.
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Earlier this month, NSAV announced a strategic business partnership with Technicorum Holdings, which will allow both companies to complement each other’s strength and technical capabilities. The partnership aims to better solve existing challenges in the newly developing industries and to create new opportunities within the growing decentralized financial market. This partnership will accelerate the revenue growth of both companies while strengthening their positions as leading digital asset providers and thought leaders in the decentralized financial market and cryptocurrency space.
DeFi has grown to over $200 billion in the past 5 years, GameFi is all the rage now, and most SocialFi projects are seeing dozens or hundreds of multiples recently. Published reports also predict that the global Metaverse market will gain a 13.1% yearly growth rate reaching $783.3 billion annually by 2024 from $478.7 billion in 2020.
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Malcolm Tan, Chief Strategic Advisor of Technicorum stated, “Technicorum Holdings will continue to identify innovative approaches to partnerships that enable us to stay at the forefront in the decentralized finance, blockchain and metaverse industries.” Malcolm also added, “Our partnership with NSAV is an efficient way to strengthen our presence in the fast-growing and attractive digital asset market. The decision for this partnership also brings financial strength to our company and supports our expansion strategies to a broader market along with our subsidiary companies. I would very much like to thank the Silverbear Capital team as well for their professional work and support.”
Dato’ Sri Desmond Lim, Interim CEO and Senior Vice President of Cryptocurrency Operations for NSAV and Silverbear Capital partner stated, “This marks another milestone for NSAV and I think this is a very strong relationship and will benefit both companies to excel together into the blockchain world.”
Stanley Yu, Senior Vice President of Technology for NSAV stated, “These are truly exciting times for both NSAV and Technicorum. We cannot wait for 2022 to come and start working on this venture with the Technicorum team.”
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