LOS ANGELES, Aug. 23, 2022 (GLOBE NEWSWIRE) — Enthusiast Gaming Inc. (“Enthusiast Gaming” or the “Company”) (NASDAQ:EGLX; TSX:EGLX), an integrated gaming entertainment company, today announced that its newest Web3 game, EV.IO, has sold out its last non-fungible token (” NFT “) drop.
The limited edition of 2,500 tokens on the Magic Eden marketplace sold out in six hours on August 19, 2022. “most popular games on Solana blockchain” of Magic Eden, EV.IO’s latest coin, is sold at a price between 2.00-2.50 SOL.
After a successful first NFT coin on the Fractal market earlier this year, EV.IO chose Magic Eden for its final drop. Magic Eden has seen a steady increase in users and transaction volume in recent months and ranked 2nd.n.d largest NFT marketplace overall in June, according to DappRadar. EV.IO monthly users have grown to over 1 million monthly web3 gaming enthusiasts.
“We are proud to have EV.IO considered a premium, top-tier play on the entire Solana blockchain. Selling out in just a few hours is yet another proof that our NFT strategy is starting to materialize.” said Bill Kara, President of Enthusiast Gaming. “Since the launch of EV.IO earlier this year, we have unlocked two new revenue streams in the game – NFTs and direct sales. As EV.IO continues to mature and the audience grows, we believe there may be more revenue opportunities.”
To find out more about EV.IO NFTs visit nft.ev.io and play online anytime at www.ev.io.
About enthusiast games
Enthusiast Gaming is an integrated gaming entertainment company building the largest media and content platform for video game and esports fans to connect and engage worldwide. By combining the elements of the four core pillars: Community, Content, Creators and Experiences, Enthusiast Gaming provides a unique opportunity and integrated approach to reach and connect with its coveted GenZ and Millennial audiences. Through its proprietary blend of digital media and entertainment assets, Enthusiast Gaming has built a vast network of like-minded communities to deliver the ultimate fan experience.
Contacts
Enthusiast Gaming Investor Relations:
Eric Bernofsky, CEO
[email protected]
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Forward-looking statements
This press release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than historical facts, that address activities, events, results, results, developments, performance or achievements that Enthusiast Gaming expects or anticipates may or will occur in the future (in whole or in part) should be considered forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “expected”, “budget”, “planned”, “estimates”, “forecasts”, “intends”, “assumes “, or “believes” or variations (including negative variations) of such words and expressions, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, ” may” or “will” (or other variations of the foregoing) be taken, occur, be achieved or happen. Forward-looking statements in this press release include, but are not limited to, statements about future earnings opportunities and expectations related to the financial performance and the financial the results for future periods.
Forward-looking statements are based on assumptions and analyzes made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, including, but not limited to, expectations and assumptions regarding: interest rates and exchange rates; capital efficiencies, cost savings and synergies; growth and growth rates; the success of the esports and gaming media industries; the company’s growth plan, and judgment applied when applying the company’s accounting principles and when preparing accounts in accordance with current standards for financial reporting. Although Enthusiast Gaming considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse events in the industry; and future legal, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive. For more information about risks, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please see the public filings of Enthusiast Gaming available on SEDAR at www.sedar.com. Readers are further cautioned not to rely on forward-looking statements, as no assurance can be given that the plans, intentions or expectations on which they are placed will occur. Such information, even if considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those expected. Forward-looking statements in this press release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and may therefore change accordingly. Enthusiast Gaming disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
