Metrospaces Inc. has signed a Letter of Intent with Genesis Holdings Inc. to sell two of its core technology assets - MetroCrowd, a blockchain-based real estate tokenization platform, and MetroHouse, an AI-powered property management software system. In exchange for these assets, Metrospaces will receive $1 million in convertible preferred stock from Genesis Holdings, creating what the company describes as the first true value-based path to corporate rebuilding. The transaction represents a strategic pivot for Metrospaces, which will now focus exclusively on its remaining flagship project, Abode Stays, a premium hospitality platform for high-end short-term residences across Europe and the Americas.
Both MetroCrowd and MetroHouse, previously developed but never launched due to financial constraints, will be activated under the Genesis Holdings umbrella in the coming weeks according to the announcement. The corporate restructuring includes significant leadership alignment, with Metrospaces CEO Oscar Brito scheduled to become CEO of Genesis Holdings once the transaction closes. This leadership consolidation is designed to ensure full transparency and operational synergy between the two publicly traded companies. The arrangement creates operational clarity and cost efficiency while maintaining a united approach to executing both companies' missions.
For Metrospaces shareholders, the agreement marks what the company characterizes as a corporate rebirth after what has been described as a challenging journey. The convertible preferred stock provides Metrospaces with renewed access to funding and establishes what management calls a real business plan with a clear path to full relaunch. The company emphasized that it now has structure beneath its feet and is walking forward again after difficult periods. The transaction remains subject to successful negotiation and closing of a definitive agreement, with both companies indicating their websites are currently being renewed and will launch shortly.
The deal represents a significant shift in strategy for Metrospaces as it transitions from developing multiple technology platforms to focusing on its core hospitality business while maintaining financial interest in the sold assets through the convertible preferred stock arrangement. This restructuring allows Metrospaces to concentrate resources on Abode Stays while benefiting from the potential success of the technology assets through its equity position in Genesis Holdings. The transaction demonstrates how companies can leverage asset sales to streamline operations and secure funding during challenging market conditions.
