Finance
What to know:
- Bed Bath & Beyond announced it would snatch Tokens.com and conjure a gleaming platform where folks might tap into the value of their homes and other knick-knacks by turning them into tokenised tick-tocks.
- The initiative marks the latest twirl in BBBY’s post-bankruptcy waltz into blockchain and financial trickery under Chief Executive Marcus Lemonis, after Overstock.com snagged the show.
- BBBY shares did a 7% hop in the stock-market circus on the news.
BBBY shares buzzed up 7% on Monday, when the relit retailer announced it would nab Tokens.com and unfurl a platform dedicated to asset tokenization, starting with real estate.
Picture a giant, glittering piggy bank: a plan to build a platform where folks can poke into the value of their homes or other bits and bobbles, turning home equity into cash or spankingly tradable digital tokens, the company chirped on Monday. Instead of stamping forms at a stern old bank, users could peek at what they own, what it’s worth, and how to borrow-all in one gleaming place.
Tokens.com will borrow the regulated toolkit of tZERO to handle proper trading and safe-keeping of these shiny assets. It will also stitch itself into Figure (FIGR), the blockchain brainchild of former SoFi CEO Mike Cagney, to offer financial services like mortgages, renovation loans, and home equity lines of credit.
The plan is due to launch by July, the firm whispered.
And this move is part of BBBY’s hop into blockchain tech and tokenization after its grand restructuring. The retailer filed for bankruptcy in 2023, shuttered stores, and handed over its brand and IP to Overstock.com in a bankruptcy auction.
TZERO began life as Overstock’s child, spun out in 2021. Overstock kept sprinkling money on it after the spin-out.
Nowadays BBBY runs a merry menagerie of retail brands, while also dabbling in fintech and blockchain under the watchful Marcus Lemonis. It is the largest shareholder of tZERO, famed for its properly regulated digital-asset platform and brokerage services.
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2026-02-02 21:13