Launching in late 2021 and in the midst of a bear market, Shogun Samurais had a relatively successful public sale - managing to sell out 7470 out of 8888 NFTs.
The NEX10 LABS team had been in talks with the original Shogun Samurai creators for the last few weeks since January regarding a full takeover of the project - with a private contract being signed yesterday on 10th February 2022.
The acquisition included full transfer of ownership of all Shogun Samurais smart contracts (NFTs and tokens) to NEX10 LABS, social media channel ownership, brand IP ownership transfer as well as movement of existing treasury funds that will be used for further development of the Shogun Samurais project in 2022 and beyond.
"Acquiring Shogun Samurais is a strategic move for our organization, and we will be working hard to relaunch the project with a strong team of NFT artists and developers. We believe in the potential of the Shogun Samurai brand and community, and that our Shogun Samurais have a place in the future metaverse.
Our NFT brands will remain independent of each other and will not be merged - however, we also plan to connect our NFT projects via a potential shared experience in the future," said Terence Ting, Managing Director of NEX10 LABS.
NEX10 LABS was incorporated in 2021 amidst the rise in popularity of NFTs, and launched it's first NFT generative project in the Uninterested Unicorns - selling out it's public sale in under 10 minutes and generating over 300 Ethereum in sales (~US$1 million). To date, the collection has done more than 4000 Ethereum in secondary sales on OpenSea.
Currently, the company owns the Uninterested Unicorns, Shogun Samurais and The Asian Mint brands under it's Web 3.0 portfolio.