Roseland, NJ, April 04, 2023 (GLOBE NEWSWIRE) — NFT Gaming Company, Inc. (“NFTG” or the “Company”), a company that develops a digital gaming platform and community that will offer users the ability to create unique avatars that playable in all the games on the platform in the form of non-fungible tokens, or “NFTs”, today provides shareholders with an update on the roadmap for game launches, AI games, team expansion, as well as the development and launch of the Gaxos platform.
“We are extremely excited to begin releasing our proprietary games and flagship product Gaxos,” commented Vadim Mats, CEO of NFTG. “The company is actively developing games and a community that will offer content that will appeal to all types of players. By combining games and genres that people love to play with the power of blockchain, AI and other cutting-edge technologies, we are paving the way for the new generation of digital gaming. I look forward to acquiring users and generating revenue to create value for our shareholders.”
The company’s IPO:
On 17 February 2023, the company ended its stock market listing. The Company sold 1,686,747 shares of common stock for aggregate gross proceeds of approximately $7 million before deduction of offering expenses. The company’s stock began trading on the Nasdaq Capital Market under the symbol “NFTG” on February 15, 2023.
Game Launches:
NFTG expects to begin launching its proprietary games on both Android and iOS by the end of the first half of 2023. The company has approximately 12 games in various stages of development, with additional games slated to begin development shortly thereafter. Our current selection includes action, puzzle, strategy, multiplayer online battle arena, first person shooter and matching games. All the games published by NFTG will be interconnected via the character/avatar and will have the ability to transfer points (XP) and share economies.
AI acquisitions and games:
The company has started building its AI-powered games by incorporating the latest AI technology such as OpenAI’s, ChatGPT and GPT-4, and Midjourney. Management evaluates new AI technology for feasibility and value in the development of its games. New products and developments in the area are currently happening on a daily basis, and the company is committed to choosing the best technologies for its products.
NFTG acquired Voxpow earlier this year to integrate certain AI features into its games.
Voxpow has AI-powered speech recognition technology with natural language processing that recognizes more than 100 languages and varieties. Other features include sentiment analysis and a number of other web-based integrations.
ChatGPT and GPT-4 by OpenAI use recognized language models designed to generate human-like conversations. The models are built on state-of-the-art AI technology and have been pre-trained on massive datasets, making it one of the most sophisticated language models on the market. The technology will enable The NFT Gaming Company to leverage these pre-trained models through APIs, making it easier to integrate into games to make interaction more realistic and engaging.
Midjourney is a powerful artificial intelligence program that generates images from natural language descriptions called “queries”. NFT Gaming Company will be able to create games where art is generated based on the choices that players will make while playing the games, potentially making each experience unique.
The Gaxos Platform:
Simultaneously with the development of its games, NFTG is building its Gaxos platform, which is expected to launch by the end of 2023. Gaxos will host all of NFTG’s proprietary games as well as games owned and operated by third parties. The platform will feature a story that connects all the games and characters. The Gaxos community of users will be able to participate in individual and platform-wide goals and achievements. Players will have the option to create an NFT of their avatars if they choose to take their character and move on from the platform. Users will be able to sell their NFT on a third-party platform and the new owner can experience Gaxos picking up where the seller left off. In addition to the functional use of NFT, users can use to collect and own their avatar.
Building our team:
The company works with game developers, artists, backend developers and other professionals in South America, Eastern Europe and various other locations around the world. Management is committed to hiring the best talent while being aware of the company’s resources. Management actively hires for roles needed to achieve its goals.
Licensing with Columbia University:
On August 29, 2022, NFTG entered into a software and patent license agreement with Columbia University in the City of New York, pursuant to which Columbia University granted us a royalty-bearing, exclusive, worldwide, non-transferable license to certain intellectual property solely for computer games for entertainment purposes involving non-fungible tokens (NFT). Management is committed to protecting its IP and will continue to explore additional methods of security to prevent any manipulation of the NFTs.
NFTG filed Form 10-K with the Securities and Exchange Commission for the period ended December 31, 2022 March 31, 2023.
About The NFT Gaming Company, Inc.
NFT Gaming Company is developing a digital gaming platform that will offer proprietary games as well as games developed and published by third parties. Our vision is to develop, design, acquire and manage conventional digital games and to combine them with new methods, such as the ability to create and create unique in-game features, such as skins, characters and non-game experiences. -fungible tokens, or “NFTs”, which will allow users to have unique experiences and more control over in-game assets.
Forward-looking statements
All statements other than statements of historical fact in this announcement are forward-looking statements that involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and economic trends that the company believes may affect its financial position, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may”, “will”, “expect”, “anticipate”, “target”, “estimate”, “intend”, “plan”, “believe” “potential”, “continue”, “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will prove to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect future results in the company’s filings with the SEC.
The NFT Gaming Company, Inc. Company Contact
Investor Relations
E:[email protected]
T: 1-888-319-2499
