Collaboration will facilitate business development of Trans-Pacific Metaverse, NFT and P2E opportunities while accelerating LGL’s APAC Web3 expansion
VANCOUVER, BC, March 9, 2022 /CNW/ – Looking Glass Labs Ltd. (“LGL” or the “Company”) (NEO: NFTX) (FRA: H1N), a leading Web3 platform specializing in non-fungible tokens (“NFT“), immersive metaverse environments, play-to-earn tokenization and virtual asset royalty streams, is pleased to announce that it has entered into a collaboration agreement (the “Arrangement“) with YellowBlocks, a leading business-to-business gateway for emerging tech ecosystems in the Asia-Pacific region (“APAC“) which is based in Ho Chi Minh City, Vietnam. The YellowBlocks network spans over 40 countries and includes notable members of the start-up community, academia and government as well as private sector entities including venture capitalists, accelerators and capital allocators .
Through the arrangement, LGL expects to be paired with advisors, collaborators and potential new clients in various APAC markets. Conversely, the Arrangement positions LGL to become a potential gateway for existing metaverse and NFT players into South East Asia enter the North American market.
The Company also anticipates that YellowBlocks will help recruit talented individuals into the Ho Chi Minh City domain, to contribute to the global marketing of its offerings. LGL recently announced the opening of an office in Vietnam in 2022 to complete its global headquarters in Canada. The Company seeks to establish a presence everywhere South East Asia where metaverse and NFT technologies have proven popular, especially through play-to-earn (“P2E“) games such as Axie Infinity, whose native token AXS currently has a market capitalization of more than $3 billion or about 1% of Ethereum’s total market capitalization.
More information about YellowBlocks can be accessed on its website by clicking on the following link: https://yellowblocks.org/
Dorian banksCEO of LGL, said, “We are delighted to be working closely with YellowBlocks as the opening date of our Vietnam Web3 office approaches. We plan our expansion into Vietnam be greatly enhanced by the knowledge, connections and insight of a local liaison such as YellowBlocks. Their gateway platform will act as a connector between LGL and the local tech and start-up ecosystem in South East Asia. As the metaverse and NFTs continue to grow in popularity around the world, our goal is to keep pace with this growth in the world’s best job markets, including Vietnam is definitely one of them. I believe this relationship between LGL and YellowBlocks will be mutually beneficial, and potentially also for companies that cooperate with YellowBlocks and seek to enter the North American market where we have established a strong market position. »
ABOUT LOOKING GLASS LABS
Based at Vancouver, British ColumbiaLooking Glass Labs is a digital platform specializing in the non-fungible token (“NFT“) architecture, immersive extended reality (“X-ray“) metaverse design and virtual asset royalty stream. Its leading brand, House of Kibaa (“HoK“), designs and organizes a next-generation metaverse for 3D assets, which allows functional art and collectibles to exist simultaneously in different NFT blockchain environments. HoK has successfully released digital assets to include GenZeroswhich completely sold out in just 37 minutes for a total proceeds for LGL of $6.2 million, plus a 5% perpetual royalty stream on secondary market sales. HoK plans to launch a hyper-realistic metaverse built on top of the Unreal 5 engine in 2022.
From LOOKING GLASS LABS LTD.
Dorian banksChief Executive Officer
This press release contains “forward-looking statements”. Statements in this press release that are not purely historical are forward-looking statements and include all statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements include, among others: as a result of working with YellowBlocks, the Company’s expectations to be connected with advisors, collaborators and potential new clients in various Asian markets and to be positioned to become a potential gateway for the existing metaverse and NFT players into South East Asia enter the North American market; Yellowblock’s ability recruit talented people in the Ho Chi Minh City area to help develop the Company’s operations in Asia; the company’s goal to become the premier digital studio specializing in NFT architecture, immersive metaverse design, and virtual asset display monetization streams; and build a portfolio of perpetual NFT royalty streams through collaborations, accretive acquisitions, and other deals, to potentially generate consistent, risk-free, passive revenue.
Important assumptions supporting these forward-looking statements include, among others, that: the company may mitigate risks associated with the blockchain and NFT industry; and the ability to compete with other companies in the NFT market.
Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the continued growth and adoption of NFT and metaverse offerings by consumers; the cost of developing and designing NFTs and metaverses is economically viable; the Company being able to attract and retain a sufficient workforce with the desired skills to develop the Company’s NFT and metaverse offerings; the availability of offers provided by third parties in the NFT, metaverse development and online gaming market to identify potential transactions; the growing adoption of NFTs as a solution for various online gaming, entertainment and collecting uses; the Company having the ability to mitigate risks associated with the blockchain and NFT industry; the ability to compete with other companies in the NFT, metaverse development, content creation and collectibles market; the risk that the Company’s offers will not be accepted by the consumer, the risk that other competitors will offer similar digital offers; the risk that there may be adverse changes in general economic and business conditions; the risk that the Company will have negative operating cash flow and insufficient capital to complete the development of any of its technologies; the risk that the Company may not be able to obtain additional financing if required; the risk of increased capital and operating costs; the risk that the NFT technology may be subject to fraud and other failures; the risk that there will be technological and blockchain developments that render NFT solutions obsolete; risks related to regulatory changes or actions likely to hinder the development or operation of blockchain solutions; the risk of other competitors publishing similar blockchain offerings; the possible future non-viability of the NFT market generally; the volatile cost of the amount of computational effort required to perform specific operations on the blockchain, and other general risks involved with blockchain solutions.
Risks and uncertainties relating to the Company’s business are discussed in more detail in the Company’s disclosure documents, including its reports filed with Canadian securities regulators and which may be obtained from www.sedar.com.
Each of these risks could cause the actual results, levels of activity, performance or achievements of the Company to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Additionally, while the Company has attempted to identify factors that could cause actual results, levels of activity, performance or achievements to differ materially from those described in the forward-looking statements, there may be Other factors that cause results, activity levels, performance or achievements not to be those anticipated, estimated or intended. These forward-looking statements are made as of the date of this press release, and the Company undertakes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the statements. forward-looking, except as required by applicable law, including the securities laws of United States and Canada. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be correct. The Company assumes no responsibility for the disclosure relating to any other company mentioned herein.
SOURCE Looking Glass Labs Ltd.
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