SINGAPORE, 02 Feb. 2023 (GLOBE NEWSWIRE) — Genius Group Limited (NYSE American: GNS) (“Genius Group” or the “Company”), a group of leading information technology and education entrepreneurs, today announces a plan approved by the Board of Directors for a blockchain-based $10 digital discount coupon (non-fungible token “NFT”) per common share to all shareholders for the purpose of rewarding shareholders and as part of preventive measures in courses implemented by the company’s Illegal Trade Task Force.
Under the proposed plan, the company will follow a three-step process to issue the $10 per share reward to shareholders:
First step: Dual listing of Genius Group shares on Upstream
This week, Genius Group began the application process for the dual listing of its shares on Upstream, the revolutionary trading application for digital securities and NFTs powered by Horizon Fintex (“Horizon”) and MERJ Exchange Limited (“MERJ “). The Company already has a relationship with MERJ, as the group subsidiary Entrepreneur Resorts Ltd is listed on the main board of MERJ. Approval to be listed on Upstream is subject to MERJ approval. However, as a current NYSE issuer and MERJ issuer, Genius Group may be eligible for an expedited listing process and anticipates approval sometime in February 2023.
The planned dual listing on Upstream is designed to provide the company with the ability to access a global base of digital investors who can trade using USDC digital currency as well as credit, debit, PayPal and USD. Thanks to this double listing, Genius Group can then issue digital NFT coupons to all its investors.
Stage Of them: $10 NFT issue coupons per share to the shareholder of Genius Group
Once the dual listing process is complete, Genius Group will issue NFT coupons of $10 per share to shareholders on Upstream. Shareholders will receive their coupons through a simple process of downloading the Upstream app, following a short KYC process, verifying their identity and receiving their coupons.
The count date (record date) to confirm all shareholders is February 28, 2023, and coupons issued will be based on the shares each shareholder holds on that date. A full briefing of the process will be provided at Genius Group’s next investor meeting in February. Digital coupons are not securities and are issued in the form of ERC721 tokens, which are a standard for representing ownership of non-fungible tokens (NFTs), i.e. where each token has a unique identifier. Digital coupons cannot be withdrawn or transferred from the Upstream app and can only be redeemed with the Upstream app.
Stage Three: Redemption of $10 NFT coupons for course discounts
Once shareholders have received their $10 NFT coupons, they can then redeem the tokens for GEM (Genius Education Merits) on Genius Group’s Edtech platform, GeniusU. GEMs work like a digital credit system similar to airmiles or Roblox’s “Robux” where students earn GEMs which can then be redeemed for discounts on other courses or products.
Shareholders will have 90 days to convert their $10 NFT coupons into GEM, via a simple login and credit process on GeniusU, and an additional 90 days to redeem their GEM. GEMs are for the use of each named investor and neither $10 NFT Tokens nor GEMs may be transferred, traded or sold.
This plan rewards Genius Group investors with valuable credits that can be used towards Genius Group’s suite of entrepreneur and investor education courses and products. The company’s full product line will be presented to all investors at an upcoming investor meeting in February and at the time of the GEM issuance. GEMs will be subject to certain conditions in terms of the maximum amount of credits to be used per purchase and a full prospectus of available courses, products and discounts will be provided at Genius Group’s next investor meeting in February and posted on its website.
Roger Hamilton, CEO of Genius Group, said: “Our investors have traditionally been retail investors who started out as students and partners, and we have always offered them rewards in recognition of their support. With this $10 per share NFT coupon, investors get the added benefit of participating in Upstream’s blockchain-based stock exchange, where shares can be individually verified. They also benefit from a free account on GeniusU, where they can join our Entrepreneur Campus or our Investor Campus to connect with our 4.3 million students around the world, giving them an additional opportunity to learn , connect and attend the Genius Group 2023 Impact Investor Summit and Global Entrepreneur Summit. .”
About Genius Group
Genius Group is one of the world’s leading education and technology technology entrepreneurs, on a mission to disrupt the current education model with a lifelong learning agenda centered on student who prepares students with the leadership, entrepreneurship, and life skills needed to succeed in today’s marketplace. The group has a group user base of 4.3 million users in 200 countries, aged 0-100. For more information, please visit https://www.geniusgroup.net/
Upstream, a MERJ Exchange, is a fully regulated global exchange for digital securities and NFTs. Powered by Horizon’s proprietary matching engine technology, the platform allows users to trade NFTs and invest in securities for IPOs, crowdfunding companies, U.S. and international stocks and celebrity businesses using the Upstream app. For more information, please visit https://upstream.exchange. Upstream is currently accepting dual slate applications at https://upstream.exchange/GetListed.
Flora Hewitt, Vice President of Investor Relations and Mergers & Acquisitions
E-mail: [email protected]
Media contact: Adia PR
E-mail: [email protected]
RedChip Enterprises Inc.
This press release does 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 authorized.
NFTs received have an economic value of $10, but NFTs (digital coupons) have no royalties, stock ownership or dividends.