VANCOUVER, British Columbia–(BUSINESS WIRE)–NFT Technologies Inc. (NEO: NFT | OTC Pink: NFTFF | FRA: 8LO) (the “Company” or “NFT Tech”), a leading technology company mainstreaming decentralized ownership, NFTs and the public markets metaverse, announced an exclusive multi-year agreement with World Table Tennis to develop and execute a web3 strategy that will engage the global fan base and reach the frontier of emerging technology.
In an exclusive multi-year agreement, World Table Tennis (WTT) with headquarters in Singapore has partnered with NFT Tech. The partnership will span end-to-end web3 strategy that includes fan engagement for digital collectibles, metaverse experiences, play-to-earn and move-to-earn games. WTT reported an unprecedented global fan base of 519 million while running over 50 global events annually and attracting hundreds of millions of unique viewers.
“I am extremely excited about what we will be able to show the world,” said Adam De Cata, CEO of NFT Tech. “Table tennis is exploding in terms of global popularity and participation, and WTT has been very forward-thinking and progressive in leading sports technology innovation. We will be able to build exciting multi-faceted experiences that further elevate fan and player engagement, including play-to-earn, which in itself is a multi-billion dollar opportunity.”
“WTT has been researching and planning its entry into the web3 space for over 15 months now, studying and analyzing ways we can create greater fan engagement through web3,” said Michael Brown, WTT CFO. “Partnering with NFT Tech is the first big step on this journey. NFT Tech has proven to be a leader in the field when it comes to technology innovation in sports, which we believe is crucial when it comes to developing our sport. We believe that coming up with a web3 strategy will resonate with our core fan base and their interests, while attracting new fans to join the table tennis world!”
In addition to dominating the table tennis sphere, Asia is also leading crypto adoption and technological innovation. In 2021, Metamask, a cryptocurrency wallet leader, reported over 10 million monthly active users and stated that Asia led the pack when it came to wallet adoption growth. Despite Asia’s dominant position in cryptocurrency adoption, there is still a lot of potential for growth, with only 3.6% and 10% of the population owning crypto in Southeast Asia and Singapore respectively.
“This multi-year partnership is a natural continuation of the momentum NFT Tech built at the Australian Open,” continued Adam. “With fifty annual events (as opposed to just one), World Table Tennis presents a ton of potential – not only with new projects or ideas, but also with a business model leveraging royalties for resale. With so many tournaments and events, we will be able to drive more leverage to own certain NFTs which will bring great benefits to the fans, but also great opportunities for NFT Tech.”
About NFT Tech
NFT Tech works to develop infrastructure, assets, real estate and IP in the metaverse, build and monetize P2E and M2E games, and bring insights and benefits to the public markets. By bridging the gap between traditional capital markets and the Web3 space, NFT Tech is mainstreaming decentralized ownership, NFTs and the metaverse. Ongoing projects include founding the GOAT Guild and Fuku.
About World Table Tennis
World Table Tennis is the commercial and events arm of the International Table Tennis Foundation, the world governing body for table tennis. The Singapore-based entity runs over 50 global events annually and attracts hundreds of millions of unique visitors to broadcast events. Their mission is to expand the global table tennis economy; to ensure that the sport is economically viable from the top down to elevate table tennis to the upper echelon of world sport, which will encourage more people to play and consume table tennis.
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Warning regarding forward-looking information
This press release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company. These forward-looking statements are generally identified by words such as “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”, “plan”. ,” “can,” “should,” “will,” “would” and similar expressions. Forward-looking statements in this press release include statements relating to the agreement with World Table Tennis and its termination date; scope, exclusivity and length of engagement in partnership with World Table Tennis; the popularity of table tennis worldwide; continued viewership and growth of table tennis; current and continued adoption and innovation in crypto and related technology in Asia and worldwide; potential growth of adoption and innovation in crypto and related technology in Asia; continued legality of online gambling in certain regions; benefits realized from the agreement; expansion of the company’s NFT development and product offering; potential benefits and requirements of direct-to-consumer NFT projects; potential benefits, development and acceptance of web3 and related applications; plans to accelerate growth; and continued public acceptance of NFTs. Although the Company believes that the expectations and assumptions as such forward-looking statements and information are based on are reasonable, you should not rely on the forward-looking statements and information because the company can give no guarantee that they will prove to be correct. Since forward-looking statements and information deal with future events and conditions, they inherently involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, without limitation, the risk factors described in the prospectus. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this press release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable laws.
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This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the US Securities Act of 1933 (“US Securities Act”) or any state securities laws and may not be offered or sold in the United States or to Persons in the United States (as defined in Regulation S under the US Securities Act) unless they are registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
