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 significant growth in its project pipeline on the back of recent partnership announcements.
After signing multi-year contracts with major brands, NFT Tech continues to deliver on partnership and contract targets and expects to close more by the end of the year. The company has already announced partnerships with the Australian Open, Elvis Presley Enterprises, Sony Sports and an exclusive multi-year deal with World Table Tennis.
“The input we’re seeing has been amazing,” said Adam De Cata, CEO of NFT Tech. “Our pipeline continues to grow extremely quickly, even as we see deals coming from large blockchain companies. We have identified a huge gap in the market where there is a void of skilled teams working on both the creative and technical aspects of blockchain development that can deliver innovative projects of massive benefit to big brands and to their users. I’m excited to continue bringing brands into web3, faster than I expected.”
Revenue increases reflect these successes, with NFT Tech reporting nearly $1M CAD in revenue (CAD$923,000) as projects begin to roll out. With its focus on resale royalties, the company expects to see incremental revenue that will represent a recurring revenue model based on the number of projects launched in the space.
“We are often asked why big brands choose us and what makes us different,” continued Adam. “The truth is that we are not just an award-winning NFT studio offering web3 strategy. NFT Tech supports our clients throughout the entire web3 journey: from idea to project implementation and launch. This is because companies often come to us knowing that they should doing something in web3, but who have no idea where to start.On top of this, we have a long experience working with the world’s largest open Metaverse projects such as Decentraland and Sandbox, and the customer can feel comfortable that they will receive great value. It’s also worth commenting on the benefits of being a public company, when working with big brands that are public gives them a serious sense of security in an industry that’s still flooded with bad actors.”
Reflecting on the company’s most successful project to date, the Australian Open NFT: the launch sold out in three minutes, generating $3M AUD and contributing almost $1M AUD to Tennis Australia’s charity arm. The project has had close to $10M AUD in secondary trading volume. For every artificial ball sold on the secondary market, NFT Tech receives royalties in perpetuity from the project – a particular highlight being Rafal Nadal’s championship point, which was originally purchased for approximately US$250 and sold for approximately US$9,000, resulting in a subsequent commission. to the project. Resale royalties on average across the NFT ecosystem are between 5 and 10%.
Expecting to launch five more major projects by the end of the year, NFT Tech continues to be the go-to company when it comes to innovative NFT strategies that increase fan and user engagement. The company’s next project launch is Elvis Presley, in collaboration with Sandbox and Decentraland. The project launches in September and will attempt a Guinness World Record for the most metaverse participants ever. More information can be found at elvis.legacycouncil.io.
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.
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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”. ,” “may,” “should,” “will,” “would” and similar expressions. Forward-looking statements in this press release include statements relating to multi-year agreements, partnerships and contract targets; revenue and pipeline forecasts; recurring revenue models; benefits realized from said partnerships and agreements; 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 on which such forward-looking statements and information are based are reasonable, reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. and information deals with future events and conditions, they inherently involve risk 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 to do so of applicable laws.
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