Genius Group Announces $10 Per Share Blockchain-Based Digital Coupon (NFT) Per Share
SINGAPORE, Feb. 2, 2023 (GLOBE NEWSWIRE) — Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a leading edtech entrepreneur and education group, today announces a board-approved plan for a $10 Blockchain-based digital discount coupon (Non Fungible Token “NFT”) per ordinary share to all shareholders as a move to reward shareholders and as part of the ongoing preventive measures implemented by the company’s Illegal Trading Task Force.
Under the proposed plan, the company will follow a three-step process to issue a $10 per share award to shareholders:
Step one: Dual listing of Genius Group shares on Upstream
This week, Genius Group started the application process to double shares on Upstream, the revolutionary trading app for digital securities and NFTs powered by Horizon Fintex (“Horizon”) and MERJ Exchange Limited (“MERJ”). The company already has a relationship with MERJ, with the subsidiary Entrepreneur Resorts Ltd which is publicly listed on MERJ’s executive board. Approval to be listed on Upstream is dependent on approval by MERJ. However, as a current NYSE issuer and MERJ issuer, Genius Group may be eligible for an expedited listing process, expecting approval by the month of February 2023.
The planned dual listing on Upstream is designed to give the company the opportunity to access a global, digital-first investor base that can trade USDC digital currency alongside credit, debit, PayPal and USD. Through this dual listing, Genius Group can then issue digital NFT coupons to all its investors.
Rise Two: Issuance of $10 NFT Coupons share to Genius Group’s shareholder
Once the dual listing process is complete, Genius Group will issue $10 NFT coupons per share to the shareholders of Upstream. Shareholders will receive their vouchers through a simple process of downloading the Upstream app, after a short KYC process, verifying their identity and getting the vouchers issued.
The count date (record date) to confirm all shareholders will be set for February 28, 2023, and the vouchers issued will be based on the shares each shareholder owns on that date. A full briefing on the process will be given at Genius Group’s next investor meeting in February. The digital coupons are not securities and are issued as ERC721 tokens, which is a standard for representing ownership of non-fungible tokens (NFT), that is, where each token has a unique identifier. The Digital Vouchers cannot be withdrawn or transferred from the Upstream App and can only be redeemed using the Upstream App.
Rise Three: Redemption of $10 NFT Coupons for course discounts
Once shareholders receive their $10 NFT tokens, they can redeem tokens for GEMs (Genius Education Merits) on Genius Group’s Edtech platform, GeniusU. GEMs work as a digital credit system similar to airmiles or Roblox’s ‘Robux’, where students earn GEMs which can then be redeemed for discounts in additional courses or products.
Shareholders will have 90 days to convert their $10 NFT vouchers into GEMs, through a simple login and credit procedure on GeniusU, and another 90 days to redeem their GEMs. The GEMs are for the use of each named investor and neither the $10 NFT Tokens nor the GEMs can be transferred, traded or sold.
This plan rewards Genius Group investors with valuable credits that can be used towards Genius Group’s range of entrepreneurial education and investor education courses and products. The company’s full product range will be presented to all investors both at an upcoming investor meeting in February and at the time the GEMs are issued. The GEMs will have certain conditions regarding the maximum number of credits to be used per purchase, and a full prospectus of rates, products and discounts available will be provided at Genius Group’s next investor meeting in February, and published on their website.
Roger Hamilton, CEO of Genius Group, stated “Our investors have traditionally been retail investors who began as our students and partners, and we have had a history of providing rewards to them to recognize their support. With this $10 NFT coupon per share reward, investors get the added benefit of participating in both Upstream’s blockchain-powered exchanges, where shares can be individually verified.They also benefit from a free account on GeniusU, where they can join our Entrepreneur Campus or Investor Campus for to connect with our 4.3 million students around the world, providing additional opportunity to learn, connect and attend Genius Group’s 2023 Impact Investor Summit and Global Entrepreneur Summit.”
About Genius Group
Genius Group is a world-leading entrepreneurial Edtech and education group, with a mission to disrupt the current education model with a student-centered, lifelong learning plan that prepares students with leadership, entrepreneurship and life skills to succeed in today’s marketplace. The group has a group user base of 4.3 million users in 200 countries, aged 0 to 100. For more information, please visit https://www.geniusgroup.net/
About Upstream
Upstream, a MERJ Exchange Market (MERJ Exchange), is a fully regulated global exchange for digital securities and NFTs. Powered by Horizon’s proprietary matching engine technology, the platform enables users to trade NFTs and invest in securities for IPOs, crowd-funded companies, US and international stocks and celebrity ventures using the Upstream app. For more information, visit Upstream is currently accepting applications for dual listing at https://upstream.exchange/GetListed.
Contacts
Investors:
Flora Hewitt, vice president of investor relations and mergers and acquisitions
Email: [email protected]
Media contacts: Adia PR
Email: [email protected]
US investors:
Dave Gentry
RedChip Companies Inc
1-800-RED-CHIP
[email protected]
Disclaimers:
This press release shall not constitute an offer to sell securities or the solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation is not permitted.
Received NFTs have a monetary value of $10, but NFTs (digital coupons) have no royalties, stock ownership, or dividends.
Upstream is a MERJ Exchange market. MERJ Exchange is a licensed stock exchange, an affiliate of the World Federation of Exchanges, and a full member of ANNA. MERJ supports global issuers of traditional and digital securities throughout the entire asset lifecycle from issuance to trading, clearing, settlement and registration. It operates a fair and transparent marketplace in line with international best practice and principles for the operation of the financial markets. Upstream does not endorse or recommend any public or private securities bought or sold on its app. Upstream does not offer investment advice or recommendations of any kind. All services offered by Upstream are intended for self-directed clients who make their own investment decisions without the help or assistance of Upstream. All customers are subject to the rules and regulations of their jurisdiction. By accessing the Website or App, you agree to be bound by the Terms of Use and Privacy Policy. Company and securities listings on Upstream are only suitable for investors who are familiar with and willing to accept the high risk associated with speculative investments, often in early and development stage companies. No guarantee can be given that the valuation of any particular company’s securities is accurate or consistent with market or industry comparative valuations. Investors must be able to afford market volatility and afford the loss of their investment. Companies listed on Upstream are subject to significant ongoing corporate obligations including, but not limited to, disclosure, registration and notification requirements, as well as compliance with applicable quantitative and qualitative listing standards.
