TORONTO, Dec. 01, 2021 (GLOBE NEWSWIRE) — Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to provide an update on its NFT initiatives.
As disclosed in the Company’s press releases dated March 3, 2021 and May 18, 2021, BCF has increased its focus on product development and has augmented its team to reflect this increased focus. One of the Company’s core areas of focus is the non-fungible token (“NFT”) market. BCF is focusing on three products within the NFT space:
1) NFTGen (NFTGen.com): a technology pipeline for marketing, deploying and minting NFT offerings.
- NFTGen automates and simplifies the process of converting static images to fully-deployed NFTs that can be directly minted by users on any EVM-compatible blockchain.
- NFTGen can be used to deploy BCF-created NFTs as well as within consulting initiatives. BCF has already leveraged the technology within its consulting practice to help House of Kibaa sell approximately C$6.2 million worth of NFTs in less than 40 minutes.1 BCF also has plans for Metaverse enabled NFTs using this technology.
- Within the consulting pipeline, BCF’s model is to partner with clients on a revenue sharing basis for collections that have a high probability of successfully being marketed and sold to end users. In these arrangements BCF’s profit margins are much higher than they would be following a standard hourly or fixed-bid pricing model.
- Certain BCF employees have jointly developed NFTGen’s technology with a third-party contractor who is assisting BCF with its NFT initiatives. The Company anticipates that it will acquire all of NFTGen’s technology and pipeline in Q4 2021 via a revenue sharing agreement with the creator of the technology.
2) LastKnown Marketplace (LastKnown.com): a white-glove service for content creators to bring NFTs to market expedited by BCF’s proprietary technology pipeline.
- LastKnown is a curated NFT marketplace for artists and content creators, and incorporates a loyalty ecosystem backed by unique NFTs launched by BCF called NFKeys.
- LastKnown will provide a white glove service for helping creators bridge the gap between raw creative materials and a deployed NFT offering.
- Initially launching on the Fantom blockchain and expanding to Ethereum and Syscoin blockchains in short order.
- BCF will receive a percentage of revenue from all NFT drops that occur through the platform and will also earn a percentage of all secondary sales.
- All artist drops will be delivered through BCF’s fully owned LastKnown NFT marketplace, expected to launch in January 2022 on LastKnown.com, with curated NFT content and secondary sales of NFTs minted through the platform. LastKnown.com helps artists bridge the gap between raw creative content and in-market NFTs.
3) NFKeys Web3 NFT Loyalty Platform (NFKeys.com): a web3 loyalty platform backed by NFTs focused on creating a networked loyalty system across multiple decentralized blockchain based platforms.
- NFKeys is a tiered web3 loyalty platform backed by unique NFTs being launched by BCF.
- NFKeys will include:
- Members only airdrops from BCF and other content creators.
- Invites and exclusive access to events and parties in the real world and the metaverse.
- Games, hunts and puzzles for rewards.
- Discounts, perks and exclusives on partner sites and applications.
BCF expects to launch LastKnown and NFKeys in Q1 2022 and will provide further updates as the platforms progress. Users who are interested in receiving specific product updates are encouraged to check LastKnown.com and NFKeys.com for more information.
About Blockchain Foundry Inc.
Blockchain Foundry develops and commercializes blockchain-based business and consumer solutions, with a focus on infrastructure for digital assets and NFTs. BCF also provides blockchain consulting services to corporate clients.
Blockchain Foundry Contact Information:
Chief Executive Officer
Certain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact, including, but not limited to, BCF completing any drawdowns on the equity facility and the terms of each drawdown. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward-looking information.
Forward-looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all. Readers should not place undue reliance on such forward-looking statements, as they reflect management’s current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by BCF are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties, and contingencies, including, but not limited to, the ability of BCF to complete any drawdowns on the terms described herein or at all. Many factors could cause BCF’s actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.