Looking Glass Labs Subsidiary House of Kibaa Announces Strategic Alliance with DatChat for Metaverse Integration
The goals of the alliance are to integrate DatChat’s VenV NFT monetization platform into HoK’s Origin Metaverse project, create more asset opportunities for creators, and leverage mutual product promotion. and services of each.
Vancouver, British Columbia – April 26, 2022 – Looking Glass Labs Ltd. (LGL or the Company) (NEO: NFTX) (FSE: H1N), a leading Web3 platform focused on non-fungible token (NFT) architecture, immersive metaverse environments, gaming tokenization to earn and virtual asset royalty streams, is delighted to announce that the Company’s proprietary studio, House of Kibaa (HoK or its subsidiary), has formed a strategic alliance (the “Alliance”) with DatChat, Inc. (DatChat ) (Nasdaq: DATS). is to integrate DatChat’s NFT monetization platform with HoK’s Origin Metaverse project. DatChat is a blockchain-enabled cybersecurity, metaverse advertising platform, and social media company.
The alliance establishes a working relationship between DatChat’s VenV platform and HoK’s Origin Metaverse project. The main objective of the alliance is to integrate the VenV NFT monetization platform into the hyper-realistic digital environment of HoK. Additionally, both companies stand to benefit from mutual promotion of each other’s platforms and products.
The alliance allows us to jointly market and operate certain complementary business activities and seamlessly integrate the VenV NFT monetization platform with Project Origin. I expect this will strengthen DatChat’s VenV presence as a leading NFT monetization platform and enable HoK to leverage VenV to create more asset opportunities for creators, said DatChat CEO Darin Myman.
I want to thank DatChat for making the alliance with HoK possible. I look forward to our teams working together to develop better outcomes not just for our businesses, but for creators and the Metaverse community as a whole. In these early stages, it is imperative to continue to improve the Metaverse experience for members of our trusted community, and I believe this alliance with DatChat has the potential to do just that, added Jason Nguyen, Chief Creative Officer. from LGL.
ABOUT DATCHAT, INC.
DatChat Inc. is a blockchain-enabled cybersecurity company, metaverse advertising platform, and social media. DatChat Messenger and Private Social Network app has the technology that allows users to change how long their messages are displayed before or after they are sent, prevent screenshots and hide encrypted photos in photo albums . The company’s patented technology provides users with a traditional SMS experience while ensuring control and security of their messages. The company continues to innovate and implement strategic initiatives to increase adoption of blockchain technology and advance its Social Network+ and Metaverse initiatives. Visit datchat.com for more information.
ABOUT LOOKING GLASS LABS
Based in Vancouver, British Columbia, Looking Glass Labs (LGL) is a web3 platform based on non-fungible token architecture (NFT), immersive metaverse environments, game tokenization to earn and revenue assets from virtual royalties. Leading brand, House of Kibaa (HoK), designs and curates a next-generation metaverse for 3D assets, allowing functional art and collectibles to coexist in disparate NFT blockchain environments. HoK successfully released digital assets including GenZeroes, which sold out in just 37 minutes and earned LGL total revenue of C$6.2 million, in addition to a 5% perpetual royalty on secondary market sales. HoK plans to introduce a hyperrealistic metaverse based on the latest version of the Unreal Engine in 2022.
On behalf of LOOKING GLASS LABS LTD.
Dorian Banks, Managing Director
For more information please contact:
Toll Free: +1 833 LGL-NFTX (833-545-6389)
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, but are not limited to: the development of the Origin Metaverse project, the company’s goal of becoming the premier digital studio specializing in NFT architecture, immersive metaverse design, and monetization streams for presentation of virtual assets; the intention to build a portfolio of sustainable NFT royalty streams through collaborations, value-added acquisitions and other arrangements that can generate consistent, low-risk, passive revenue; and near-term plans and future plans as described in the press release.
The key assumptions on which these forward-looking statements are based include, among others, that the Company can mitigate the risks associated with the blockchain and NFT industry, that it is able to compete with other companies in the NFT and that sufficient financial resources are available. implement the Company’s business development plans; that favorable market conditions exist; that HoK will be able to sell all or substantially all of its offerings and that the Company will be able to complete development of Overlords in a timely manner.
Although management believes 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 consumer market acceptance of NFT and Metaverse offerings; the cost of developing and designing commercially viable NFTs and metaverses; the Company’s ability to attract and retain sufficient employees with the desired skills to develop the Company’s NFT and Metaverse offerings; the availability of third party offerings in the NFT, Metaverse development and online gaming marketplaces to identify potential transactions; the growing acceptance of NFTs as a solution for various online games, entertainment and collectibles; the Company’s ability to mitigate risks associated with the blockchain and NFT industries; and the ability to compete with other companies in the NFT, Metaverse development, content creation and collectibles markets.
Although management believes 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 risk that the Company’s offerings will not be accepted by consumers; the risk of other competitors providing similar digital offerings; the risk that general economic and business conditions will change adversely; 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 needed; the risk of increased capital and operating costs; the risk that the NFT Technology is subject to fraud and other errors; the risk of technological and blockchain developments rendering NFT solutions obsolete; risks related to regulatory changes or actions that may impede the development or operation of blockchain solutions; the risk of other competitors launching similar blockchain offerings; the potential future unprofitability of the NFT market generally; the fluctuating cost of the computational effort required to perform certain operations on the blockchain and other general risks associated with blockchain solutions.
The risks and uncertainties associated with the Company’s business are discussed in more detail in the Company’s filings, including reports filed with Canadian securities regulators, which are available at www.sedar.com.
Each of these risks could cause the Company’s actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Although the Company has attempted to identify factors that could cause actual results, business, performance or achievements to differ materially from those described in the forward-looking statements, there may be other factors that that the results, activity, performance or achievements are not as expected. , estimated or predicted. 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 forward-looking statements, except as required by law, including laws on the securities of the 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 of information relating to other companies mentioned herein.
SOURCE: LOOKING GLASS LABS LTD.
The source language (usually English) in which the original text is published is the official, authorized and legal version. This translation is included for better understanding. The German language version may be abridged or summarized. No responsibility or liability is accepted for the content, accuracy, adequacy or correctness of this translation. From the translator’s point of view, the report does not constitute a recommendation to buy or sell! Please note the original English notification at www.sedar.com, www.sec.gov, www.asx.com.au/ or the company’s website!
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