BORED DEAL: Boring Brew, A BAYC-Themed Coffee Company, Was Acquired By Metavesco
A piping hot deal was brewed at the Bored Ape Yacht Club today as this BAYC-themed coffee company was acquired by a publicly traded company.
Boring Brew, a BAYC-themed coffee company known for placing various NFTs on collectible coffee bags, has been purchased by Metavesco, a web3 enterprise and digital asset innovator company owned by BAYC member Ryan Schadel.
"I can hardly contain my excitement as I share some incredible news with you. None other than Metavesco Inc has acquired our beloved Boring Brew LLC, where coffee, art, and NFTs collide,” Boring Brew Founder Erod.Eth wrote in an announcement on Twitter earlier today. This moment is breathtaking for our entire team. With the support of MVCO, we are about to reach groundbreaking levels in combining coffee, NFTs, and technology. It’s truly a game changer.”
Schadel’s Metavesco company purchased Boring Brew for $45,000 USD and 500,000 restricted shares of MVCO; which is currently worth $240,000 USD, based on MVCO’s current share price.
“We are thrilled to announce the acquisition of Boring Brew and Boring Coffee Lab," Schadel, said in a press release. "This strategic move aligns with our web3 ethos and vision of expanding our presence in the future of ecommerce. The addition of Boring Brew's expertise and technical resources will enhance our capabilities and enable the company to build out future product offerings and onboard traditional business models into web3."
Following the acquisition, Boring Brew’s Erod.Eth plans to join the Metavesco team as a Strategic Advisor and will receive additional compensation based on the company's future growth and performance, according to the press release.
Schadel and Erod.Eth will be attending the OTC Club Twitter Space tomorrow at 6 P.M. EST to further discuss the deal and their future.
The Bored Ape Gazette will continue to follow Boring Brew and will let you know what’s next for this beverage brand. Stay tuned for updates!