IRW-PRESS: NFT Technologies Inc: NFT Tech announces its investment in the Move to Earning (M2E) project to lower barriers to Web3 and reward physical activity while playing
Vancouver, British Columbia, June 3, 2022 – NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO) (NFT Tech), a leading technology company focused on bringing decentralized ownership, NFTs and Metaverse to public markets, announced its well-known investment in the Move-to-Earn (M2E) Walken project (https:// walken.io/).
M2E is a cultural phenomenon in the crypto space that started with projects like Sweatcoin and Pokémon Go. Walken is a Web3 lifestyle app that combines real-life activities, online games, and opportunities to earn cryptocurrency. As with all M2E games, the more users move, the more in-game currency they earn. Game tokens, WLKN, can be reinvested in the game or redeemed for cash.
This sector is growing very fast. One of the market leaders already has a market capitalization of over $6 billion (STEPN), and people of all ages are still busy collecting Pokémon on Pokémon Go. Therefore, we strongly believe that this is a sector that will continue to increase the adoption of the cryptocurrency ecosystem. Whether it’s collecting Pokémon or earning points on your Fitbit, many people are already participating in Move-to-Earn without even knowing it. “We are very excited to be a part of this project and expect the M2E segment to continue to grow,” said Wayne Lloyd, CEO of NFT Tech.
NFT Tech’s investment, combined with NFT Tech Consultant Adam De Cata’s expertise in providing marketing and other arrangements for M2E projects, will play a key role in Walken’s success. In addition to the strategic partners involved in launching the WLKN token, the partnership makes it easier for Walken to explore new protocols and trends, and create important team relationships that strengthen the existing ecosystem.
We are excited to share with NFT Tech. Having a public company by our side helps us stand out from the crowd. Alexei Kulevets, co-founder and CEO of Walken, said that given NFT Tech’s crypto expertise, we see the company’s involvement as something much more than a simple investment and expect more collaborations in the future.
NFT Tech entered into an agreement with the team behind Walken on June 3, 2022. Under the terms of the agreement, NFT Tech will provide financial support to Project Walken and work with creators, bringing NFT Tech’s extensive expertise in crypto games and capital markets, and advising on M2E mobility in the landscape. The broadest for P2E and Web3.
A similar project, STEPN, a Solana blockchain-based app that rewards users for walking, jogging or running outdoors, had more than 650,000 monthly active users as of May 2022. STEPN raises up to $100 million per month, which is more than double What it was in April and triple what it was in March. Almost 30% of STEPN users come from outside the crypto world. This underscores how M2E can bring people to Web 3 – a task that other applications have yet to master.
Walken is a move-to-earn mobile app developed by a team that uses the motion detection capabilities of standard smartphones and wearables to capture users’ step count, which is then redeemed with WLKN tokens for in-app games and NFTs are rewarded. Developed by the team behind Appyfurious and GetFit apps, Walken aims to connect gaming and cryptocurrency to a healthy, active lifestyle.
About NFT Tech
NFT Tech develops infrastructure, assets, real estate and intellectual property in the Metaverse, builds and generates revenue from P2E and M2E games, and delivers insights and benefits to public markets. Bridging the gap between traditional capital markets and the Web3 space, NFT Tech helps bring decentralized ownership, NFTs, and the metaverse to the general public. Current projects include the creation of GOAT Guild and Fuku.
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Wayne Lloyd, CEO
Cautionary statement regarding forward-looking information
This press release contains certain forward-looking statements within the meaning of applicable securities laws relating 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”, “will” and other similar expressions. Forward-looking statements in this press release include statements about the popularity and strength of M2E games, the benefits of investing in the Walken project, and the benefits to Walken of NFT Tech’s participation in the project. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, you should not place undue reliance on the forward-looking statements and information, as the Company can make no guarantee that they will be accurate. prove correct. Because forward-looking statements and information address future events and conditions, they inherently involve risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements contained in this press release, including but not limited to risk factors described in the prospectus. Readers are cautioned that the list of foregoing factors is not exhaustive. The forward-looking statements contained in this press release are expressly conditioned on this cautionary statement. The forward-looking statements and information contained in this press release are made as of the date of this press release, 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 as this is required by applicable law. with it.
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