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Vancouver, British Columbia, August 16, 2022–(Business Wire)–NFT Technologies Inc. (NEO: NFT | OTC Pink: NFTFF | FRA: 8LO) (the “Company” or “NFT Tech”).A major technology company has seen significant progress in its project pipeline on the back of recent partnership announcements for decentralized ownership, NFTs and exchanges for public markets.
Following the signing of multi-year contracts with major brands, NFT Tech continues to over-deliver on partnership and contract goals and expects to close many more by the end of the year. The company announced exclusive multi-year partnerships with the Australian Open, Elvis Presley Enterprises, Sony Sports and World Table Tennis.
“The penetration we’re seeing has been phenomenal,” said NFT Tech CEO Adam de Cata. “Our pipeline continues to grow at a rapid pace, we are seeing deals coming to us from major blockchain companies. We have identified a huge gap in the market where there is a gap in skilled teams working on the creative and technical aspects of blockchain development. I’m excited to continue bringing brands to web3 faster than I expected.”
Revenue increases are reflecting these successes, with NFT Tech reporting nearly $1M CAD in revenue (CAD$923,000) as projects begin to roll out. With a focus on resale royalties, the company expects to maximize revenues representing a recurring revenue model based on the number of projects launched into the space.
“We are frequently asked why major brands choose us and what makes us different,” Adam continued. “The truth is, we’re not just an award-winning NFT studio that simply delivers Web3 strategy. NFT Tech supports our clients throughout the Web3 journey: from ideation to project execution and launch. That’s because companies often come to us knowing they need to be doing something in Web3, no matter where to start. We have no idea, and we have a long history of working with some of the world’s biggest open source Metaverse projects like Decentraland and Sandbox.Working with major brands gives them a great sense of security in an industry still flooded with bad players.
Reflecting on the company’s most successful project to date, the Australian Open NFT: The launch sold out in three minutes, raising $3M AUD and contributing nearly $1M AUD to the charity arm of Tennis Australia. The project had about $10M AUD in the second stage of the transaction. For every art ball sold on the secondary market, NFT Tech receives royalties for the project’s sustainability — a notable example is Rafael Nadal’s championship score, which was originally purchased for about $250 and sold for roughly $9,000, resulting in a subsequent commission. to the project. Resale royalty fees average between 5 and 10 percent in the NFT ecosystem.
NFT Tech will start five more major projects by the end of the year, and will continue to go to the company regarding new NFT strategies that will increase the participation of fans and users. The company’s next project launch is in collaboration with Elvis Presley. Sandbox and Decentraland. The project will begin in September and will attempt to set a Guinness World Record for the largest number of participants ever. More information is available at elvis.legacycouncil.io.
About NFT Tech
NFT Tech works to develop infrastructure, assets, real estate and IP in the Metaverse, build and monetize P2E and M2E games, and bring insights and benefits to public markets. Bridging the gap between traditional capital markets and the Web3 space, NFT Tech is handling decentralized ownership, NFTs and the meta-adverse.
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A cautionary note on forward-looking information
This press release contains certain forward-looking statements within the meaning of applicable securities laws relating to the Company. These forward-looking statements are generally characterized by words such as “believe,” “project,” “expect,” “predict,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan.” ,” “may,” “will,” “will,” “will” and similar expressions. Forward-looking statements in this press release include statements related to multi-year agreements, partnerships and contractual goals. Revenue and pipeline projections; recurring revenue models; from mentioned partnerships. and agreements; the Company’s NFT developments and expansion of product offerings; potential benefits and needs of direct-to-consumer NFT projects; potential benefits, growth and adoption of Web3 and related applications; plans to accelerate growth; and continued public acceptance of NFTs. Even if the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, you should not place undue reliance on such forward-looking statements and information because the Company makes no assurance that they will become correct. They inherently involve risks and uncertainties. Many factors could cause actual material to differ materially from the forward-looking statements in this press release, including, without limitation, the risks described in the prospectus. Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release The forward-looking statements and information contained in this news release are expressly qualified by this cautionary statement It is accurate as of the date hereof and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information as a result of new information, future events or otherwise. , unless required by applicable laws.
No securities regulatory authority has approved or disapproved the contents of this news release. Neo Exchange has not reviewed or endorsed this press release for the adequacy or accuracy of its content.
This news release does not constitute an offer to sell or an offer to sell any securities in the United States. The securities have not been and will not be registered under the US Securities Act of 1933 (the “US Securities Act”) or any other state securities laws and may not be offered or sold in the United States.
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Check out the source version at businesswire.com: https://www.businesswire.com/news/home/20220816005904/am/
Contacts
Wayne Lloyd, Executive Chairman
Email: ir@nfttech.com
Phone: +1 (604) 800-5838
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