The company’s flagship studio, House of Kibaa, is set to distribute 9,000 one-of-a-kind NFTs over time, with three levels of rarity to existing GenX and HoK Genesis NFT holders as part of the next phase. of its previously announced GenZeroes roadmap
VANCOUVER, BC, July 13, 2022 /CNW/ – Looking Glass Labs Ltd. (“LGL” or the “Company”) (NEO: NFTX) (OTC: LGSLF) (FRA: H1N), a leading Web3 platform specializing in non-fungible tokens (“NFT“), immersive metaverse environments, play-to-earn tokenization and virtual asset royalty streams, is pleased to announce that its wholly-owned design studio, House of Kibaa (“HoK“), will begin execution of a 9,000 NFT airdrop over the summer as part of the next phase of its GenZeroes roadmap (the “Mint GenZeroes NFTNFTs will first be distributed to existing GenX and HoK Genesis NFT holders, which are estimated to be approximately 2,000 NFTs, at no cost to holders except applicable gas fees, and the remaining units being Released to new owners over time.Previously announced, GenZeroes is a one-of-a-kind, live-action, NFT-integrated series and Season 1 featured eight episodes with its content alternating between webisode and comic book formats.
The GenZeroes NFT Mint will consist of a total of 9,000 card packs with three rarity levels: Holo, Gold, and Silver. Each card pack will contain collectible faction profile pictures, character cards, and mystery cards. Highly sought after Mystery Cards will provide redeemable utility in the form of access to URL and IRL experiences in the GenZeroes ecosystem. By purchasing a GenZeroes NFT, fans of the series not only support and fund its creation, but also gain exclusive access to view the full series before others and enjoy additional behind-the-scenes content. Additionally, NFT holders will also get unique voting powers to shape the story as new seasons are crafted. Finally, original GenX holders will forever be recognized for their support with personal IMDb credit.
Recipients will be surprised because while they will immediately be able to see their rarity level, the actual contents of the pack will not initially be revealed. Instead, holders will have to wait until a set reveal period is over, after which they will have the option to open their packs and redeem individual cards if they wish. Alternatively, NFT holders can choose to leave their packs sealed, with only the rarity level visible, and redeem them unopened. Following GenZeroes NFT Mint, there will be an ongoing series of mints with GenZeroes partner communities until the entire collection is released. Depending on the level of demand, this should happen over the next few months.
A thrilling sci-fi epic, the live-action series GenZeroes leverages blockchain to create a unique funding, production, and consumption model for film and television. With a star-studded cast that includes Alex Paunovic, Paul Wight, Nicole Munoz, Richard Harmon, Bethany BrownPraneet Akilla, Marc HildrethTahmoh Penikett, Kandyse McClure and jesse stanley, GenZeroes is an epic sci-fi adventure set 200 years in the future after the planet has been ravaged by alien invaders. Earth is in ruins and emerging from chaos, 10 ruthless factions must fight for control of its destiny. Although each faction has access to the most advanced technology in human history, alliances and betrayals remain the most powerful weapons.
MANAGEMENT COMMENT
“The GenZeroes NFT Mint, from a utility perspective, is the first of its kind not only for House of Kibaa and its parent company, Looking Glass Labs, but also for the industry. We are thrilled to reward our GenX and Les HoK Genesis NFT holders with these new NFT card packs as a token of our appreciation for their loyalty and support, which is also an innovative gesture within the NFT community,” said Dorian banks, CEO of Looking Glass Labs. “As GenZeroes NFT Mint and subsequent mints are complete, it will be fun and interesting to see how the community interacts with their cards and packs, based on their rarity and other factors over time,” added M. Banks.
ABOUT LOOKING GLASS LABS
Based at Vancouver, British ColumbiaLooking Glass Labs (“LGL“) is a Web3 platform specializing in the non-fungible token (“NFT“), immersive metaverse environments, play-to-earn tokenization and virtual asset royalty streams. Its leading brand, House of Kibaa (“HoK“), designs and organizes a next-generation metaverse for 3D assets, which allows functional art and collectibles to exist simultaneously in different NFT blockchain environments. HoK has successfully released digital assets to include GenZeroes , which sold out in just 37 minutes for a total proceeds to LGL of CAD 6.2 million, plus a 5% perpetual royalty stream on secondary market sales. HoK plans to launch a hyper-realistic metaverse built on the latest version of Unreal Engine in 2022.
Behalf LOOKING GLASS LABS LTD.
“Dorian banks”
Dorian banksChief executive officer
Twitter: @DorianBanks
Forward-looking information
This press release contains “forward-looking statements”. Statements in this press release that are not purely historical are forward-looking statements and include all statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements include, among others: the development of the Project Origin metaverse, the Company’s goal of becoming the first digital studio specializing in NFT architecture, immersive metaverse design and asset display monetization streams virtual; the intention to build a portfolio of perpetual NFT royalty streams through collaborations, accretive acquisitions and other arrangements, to potentially generate consistent, risk-free and passive revenue; and short-term and future plans.
Important assumptions supporting these forward-looking statements include, among others, that: the company may mitigate risks associated with the blockchain and NFT industry; the ability to compete with other companies in the NFT market; the availability of sufficient funding to carry out the Company’s business development plans; favorable market conditions; HoK’s ability to sell all or substantially all of its offerings; and the ability to complete Overlords development in a timely manner.
Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the continued growth and adoption of NFT and metaverse offerings by the mainstream market; the cost of developing and designing NFTs and metaverses is economically viable; the Company being able to attract and retain a sufficient workforce with the desired skills to develop the Company’s NFT and metaverse offerings; the availability of offers provided by third parties in the NFT, metaverse development and online gaming market to identify potential transactions; the growing adoption of NFTs as a solution for various online gaming, entertainment and collecting uses; the Company having the ability to mitigate risks associated with the blockchain and NFT industry; and the ability to compete with other companies in the NFT, metaverse development, content creation, and collectibles market.
Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the risk that the Company’s offerings will not be accepted by the consumer, the risk that other competitors similar digital offerings; the risk that there may be adverse changes in general economic and business conditions; the risk that the Company will have negative operating cash flow and insufficient capital to complete the development of any of its technologies; the risk that the Company may not be able to obtain additional financing if required; the risk of increased capital and operating costs; the risk that the NFT technology may be subject to fraud and other failures; the risk that technological changes and blockchain developments will render NFT solutions obsolete; risks related to regulatory changes or actions likely to hinder the development or operation of blockchain solutions; the risk of other competitors publishing similar blockchain offerings; the possible future non-viability of the NFT market generally; the volatile cost of the amount of computational effort required to perform specific operations on the blockchain, and other general risks involved with blockchain solutions.
Risks and uncertainties relating to the Company’s business are discussed in more detail in the Company’s disclosure documents, including its reports filed with Canadian securities regulators and which may be obtained from www.sedar.com.
Each of these risks could cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Additionally, while the Company has attempted to identify factors that could cause actual results, levels of activity, performance or achievements to differ materially from those described in the forward-looking statements, there may be Other factors that cause results, activity levels, performance or achievements not to be those anticipated, estimated or intended. These forward-looking statements are made as of the date of this press release, and the Company undertakes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the statements. forward-looking, except as required by applicable law, including the securities laws of United States and Canada. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be correct. The Company assumes no responsibility for the disclosure relating to any other company mentioned herein.
SOURCE Looking Glass Labs Ltd.
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