shares of genius group (NYSEMKT:GNS) opened more than 30% higher today after announcing that its board of directors approved a $10 “blockchain-based digital discount coupon” non-fungible token (NFT) for shareholders of GNS shares. The discount is applied to each share you own and assists in actions taken by the Genius Anti-Illegal Trade Commission.
So how does this discount work? The first step is to dual-list GNS on Upstream, a trading application that provides access to the assets of tokenized Special Purpose Acquisition Companies (SPACs), crowdfunding firms, celebrity ventures, and more.The application is run by horizon fintex When MERJ Exchange Limited.
Genius says it already has a relationship with MERJ. This is a subsidiary entrepreneur resort, is already listed on the exchange. As a result, the company may be able to apply for an expedited listing process. It may arrive as early as this month.
GNS Stocks: Genius Board Approves $10 NFT Discount
The reason Genius is listed upstream is so that shareholders can receive a $10 NFT coupon and trade. us dollar coin (USDC-USD). After dual listing, shareholders can verify their identity upstream and receive coupons after meeting Know Your Customer (KYC) requirements.
Coupons issued as ERC721 tokens will have a record date of February 28th. Shareholders will be informed of the details at the Extraordinary General Meeting on February 16th. After receiving the coupon, shareholders can redeem the coupon. To his Genius Education Merits (GEM) on GeniusU, the company’s edtech his platform. The shareholder is given his 90 days to convert the coupon into his GEM and another his 90 days to use the GEM.
“GEM will act as a digital credit system, similar to air miles or Roblox’s ‘Robux’, allowing students to earn GEM and redeem it for discounts on subsequent courses and products,” the company said in a news release. clarified in the release.
At an upcoming shareholder meeting, Genius will provide shareholders with information detailing the full range of GEM-enabled products. The company also provides details about restrictions and restrictions regarding GEM.
As of the date of publication, Eddie Pang did not hold any positions (directly or indirectly) in any of the securities referred to in this article. The opinions expressed in this article are those of the subject author of InvestorPlace.com. Publication guidelines.