A “Dilbert” strip once tackled gamification, suggesting that anything that doesn’t have a cash value is basically the same as garbage. Genius Group Limited (NYSE:GNS) is prepared to take that theory head-on by offering its stockholders a gift. It’s not money, but it’s apparently the next closest thing. Based on the jump Genius Group saw in Thursday afternoon’s trading, it may not be that far wrong.
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Genius Group’s planned offer is a bit of a reward for sticking with the company. Normally, this would be a dividend. In some cases, it might be a favorable stock split instead. For Genius Group, a rising name in education and educational technology, it’s trying something else. It’s going to offer shareholders a Blockchain-based Digital Discount Coupon (Non-Fungible Token). That coupon is worth a hefty $10, which is a little higher than one share of GNS itself.
In order to actually issue the coupon, Genius Group will embark on a three-step plan. First, it starts by listing its shares on Upstream as well as the NYSE. Second, it will issue the $10 NFT coupons. Third, shareholders will be able to redeem the coupons. Not for an NFT, oddly enough, but rather for a discounted course on Genius Group’s GeniusU platform. The coupons will apparently expire in 90 days.
If this sounds unnecessarily complicated, the last five days of trading for Genius Group stock may change your mind. Trading has been extremely volatile but mostly volatile to the upside. Genius Group shares are up around 44% from what they were just five days ago.
