Metasphere Labs Inc.
("
Metasphere" or the "
Company")
(Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is excited to announce
a definitive agreement with Bot Ventures Inc. (“
Bot
Ventures”), an innovator in the identity, naming, and
verification space (the “
Agreement”). This
partnership marks a significant development, of both companies, in
a decentralized domain platform (the “
Platform”)
for domain protocols that operate on the Bitcoin blockchain.
In consideration for
the development services provided, Bot Ventures shall pay a royalty
of 20% of all gross sales revenue generated from the Platform,
capped at at a maximum total payment of $1,000,000 USD (the
“Royalty”). It’s important to note that this
Royalty does not apply to sales of any other products or services
associated with the platform being developed by the Company. Given
that the compensation for services is contingent on Bot Ventures’
ability to generate revenue from the platform, there can be no
assurance that the Company will earn any Royalty from this
arrangement.
Bot Ventures, the
owner of botpages.com, is setting industry benchmarks as the
foremost chatbot verification service, well ahead of sophisticated
AI technologies like ChatGPT. Their proactive vision has
consistently anticipated the crucial need for digital identity
verification in a world populated by artificial agents.
"Our partnership with
Bot Ventures marks a milestone in our quest to revolutionize
digital identities," stated Natasha Ingram, CEO of Metasphere. "By
combining their extensive experience with our cutting-edge
technology, we are poised to significantly enhance online security
and trust, utilizing Bitcoin’s robust infrastructure. Additionally,
our Agreement includes royalties for Metasphere, which underscores
the value and innovation we bring to this partnership."
This strategic
alliance will merge Metasphere's advanced development skills with
Bot Ventures' operational excellence, creating a comprehensive
platform and verification system for decentralized Bitcoin-based
identity systems. This initiative includes integrating the Spaces
Protocol and Sat Names, along with plans to incorporate
MicroStrategy’s DID:BTC initiative, thus creating a versatile
platform for digital identity management.
Integration
with DEFI.GOLD Network
Metasphere will
further enhance this initiative by integrating Bot Ventures'
platform with the upcoming DEFI.GOLD NFT protocol. This integration
will facilitate the development of future Bitcoin-based identity
protocols using technologies such as RGB and Taproot assets, as
well as Ordinals and similar inscriptions. The goal is to provide a
robust and adaptable framework for digital identity verification,
expanding the utility and reach of decentralized solutions across
Bitcoin’s Web3 landscape.
Learn More at
Our Upcoming Seminar
For those interested
in understanding how these technologies will transform society and
their impact on Internet consumers, Metasphere invites you to join
our seminar on DeFi on Bitcoin. This event will cover the broader
topic of decentralized applications on Bitcoin and their potential
societal impacts. To participate, please access the seminar at
www.metasphere.earth/bitcoin-defi-seminar.
Metasphere remains
dedicated to its broader mission of redefining decentralized
applications and driving global Web3 adoption through Bitcoin’s
unparalleled capabilities, distinguishing itself from traditional
Ethereum Virtual Machine-based networks.
This Agreement with
Bot Ventures underscores Metasphere's commitment to innovation and
leadership in the digital identity sector, setting new standards
for security and decentralization.
ABOUT METASPHERE LABS
Based in Vancouver,
British Columbia, Metasphere Labs develops metaverse environments,
DAO solutions, gamification, and Web3/blockchain monetization
strategies aimed at addressing social coordination challenges
related to climate action and generating a positive planetary
impact.
For Further
Information:
To learn more about Metasphere Labs and its initiatives, please
contact:Natasha Ingram, CEOEmail: info@metasphere.earth
Forward-Looking
InformationThis news release contains
"forward-looking statements." Statements in this news release that
are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations, or
intentions regarding the future. Such forward-looking statements
include, among other things, the Company's potential ability to
earn income from the Royalty, open metaverse projects and
development of blockchain-based platforms.
The material assumptions supporting these
forward-looking statements include, among others, that: the Company
could mitigate the risks associated with the blockchain and NFT
industry; the ability to compete with other businesses in the NFT,
metaverse and blockchain markets; the availability of sufficient
funding to carry out the Company's business development plans;
favourable market conditions; and the market acceptance for its
products.
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, metaverse and blockchain offerings; the cost
of developing and designing NFTs and metaverses is economically
viable; the Company being able to attract and retain a sufficient
workforce with desired skillsets to develop the Company's digital
offerings; the availability of offerings provided by third-parties
in the NFT, metaverse development and online gaming market to
identify potential transactions; the increasing adoption of NFTs as
a solution for various online gaming, entertainment and collectible
uses; the Company having the ability to mitigate the risks
associated with the blockchain and NFT industry; and the ability to
compete with other businesses in the NFT, metaverse development,
content creation and collectibles 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 risk that the
Company's offerings are not accepted by the consumer, the risk that
other competitors may offer similar digital offerings; the risk
that there may be negative changes in general economic and business
conditions; the risk that the Company may have negative operating
cash flow and not enough capital to complete the development of any
of its technologies; the risk that the Company may not be able to
obtain additional financing as necessary; the risk that there may
be increases in capital and operating costs; the risk that the NFT
technology may be subject to fraud and other failures; the risk
that there may be technological changes and developments in the
blockchain that make the NFT solutions obsolete; risks relating to
regulatory changes or actions which may impede the development or
operation of the blockchain solutions; the risk that other
competitors may release similar blockchain offerings; the potential
future unviability of the NFT market in general; the volatile cost
of the amount of computational effort required to execute specific
operations on the blockchain, and other general risks involved in
the blockchain solutions.
Risks and uncertainties about the Company’s
business are more fully discussed in the Company’s disclosure
materials, including its reports filed with the Canadian securities
regulators and which can be obtained from www.sedarplus.ca.
Any of these risks may cause the Company’s
actual results, levels of activity, performance or achievements to
be materially different from any future results, levels of
activity, performance or achievements expressed or implied by these
forward-looking statements. Further, although 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 forward-looking statements,
there may be other factors that cause results, levels of activity,
performance or achievements not to be as anticipated, estimated or
intended. These forward- looking statements are made as of the date
of this news release, and the Company assumes 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 applicable law,
including the securities laws of the United States and Canada.
Although the Company believes that any beliefs, plans, expectations
and intentions contained in this news release are reasonable, there
can be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate. The Company does not assume
any liability for disclosure relating to any other company
mentioned herein.
SOURCE: METASPHERE LABS
INC.