By Vancouver, British Columbia – February 10, 2022 (Newsfile Corp.) (Investorideas.com Newswire) iMining Technologies Inc. (TSXV: IMIN) (the “Company” or “iMining”) is pleased to announce it has launched Metaverse Advisory Group Inc., a wholly-owned subsidiary focused on investing, developing and managing Metaverse Properties and NFTs. Metaverse Advisory Group provides direct exposure to Metaverse and NFT sectors for BitBit Financial Inc. customers and iMining shareholders.
Metaverse Advisory Group will be led by iMining’s CTO, Dwain Pereira, along with an experienced Virtual Reality and technology development team.
With this launch, iMining has developed an infrastructure to become a Web3.0 technology company. Web3.0 is the next evolution in computing and information technology, after the transition from Web1.0 to Web2.0, as early-stage applications of this technology are already here. Web3.0 will bring together the convergence of Augmented and Virtual Reality technology, IOT devices, distributed ledger technology (blockchain), Artificial Intelligence and Machine learning.
Metaverse Advisory Group is a virtual NFT based real estate company that will develop and manage a portfolio of Virtual properties in major blockchain-based Metaverses including Decentraland and The Sandbox.
“The Metaverse is a game-changer for how advertisers and brands market their products. Physical and virtual real estate are extremely similar and as more people congregate in these virtual cities, the land becomes more sought after for its ability to reach a new global demographic. Brands like Sotheby’s1, Samsung2, Carrefour3, Australian Open4, are launching in the Metaverse,” commented CTO, Dwain Pereira of iMining. “Firms such as Goldman Sachs5, Morgan Stanley6 and Grayscale7 are all seeing Metaverse as a Multi-Trillion Dollar Opportunity.”
“We are on the cusp of a major technological transformation with the advent of new technology and the evolution of existing technologies, which changes how people interact with no clear future impact. iMining is working with strategic partners to provide our investors and clients with an end-to-end solution so they can easily participate in the growth of Web3.0 and benefit from it,” said Khurram Shroff, President and CEO of the Company. “Web3.0 will entirely change how people interact with technology and with each other. This is an exciting time and I remain confident that iMining is positioned as thought leaders to assist this entire industry grow. iMining has established itself to provide public market investors exposure to Web3.0, the next evolution of Internet.”
1 https://www.sothebys.com/en/articles/next-stop-the-metaverse
2 https://www.theblockcrypto.com/post/129380/samsung-metaverse-flagship-837-store-decentraland
3 https://nftevening.com/french-supermarket-carrefour-enters-the-metaverse/
4 https://ausopen.com/articles/news/ao-launches-metaverse-serves-world-first-nft-art-collection-linked-live-match-data
5 https://news.bitcoin.com/goldman-sachs-metaverse-8-trillion-opportunity/
6 https://blockworks.co/morgan-stanley-sees-8-trillion-metaverse-market-eventually/
7 https://cointelegraph.com/news/the-metaverse-is-a-1t-opportunity-after-users-increase-10x-grayscale-report
Acquisition of Metaverse assets
The Company also announces that further to its news release of December 15, 2021, a Definitive Agreement has now been executed with 1850142 Ontario Inc. for the acquisition of certain Metaverse assets, including digital land in the Decentraland Metaverse and a collection of 16 NFT assets of Crypto Kitties and NBA Top Shots. The Definitive Agreement reflects an amended consideration for the acquisition, such that full payment will now consist of 2,500,000 common shares at a deemed price of $0.12 per share, with no cash payments being required. The Company will be filing its application for TSXV approval of the proposed transaction.
About Metaverse Advisory Group:
Metaverse Advisory Group is a virtual NFT based real estate company that develops and manages a portfolio of Virtual properties in major blockchain-based Metaverses including Decentraland and The Sandbox. It operates unique services including virtual property development, property management, and assisting companies with future of work, virtual events and meetings, marketing and advertising in the Metaverse.
About iMining Technologies Inc.
iMining is a publicly listed Web3.0 technology company developing technology for Crypto Mining, Decentralized Finance (“DeFi”) and Non-Fungible Tokens (“NFT”). iMining also owns BitBit Financial Inc., an ATM Network and crypto OTC Trading Platform for individual and institutions., You may onboard with BitBit Financial https://bitbitfinancial.com/open-an-account/
iMining investments are directly linked to the Bitcoin Mining, Crypto Trading, Decentralized Finance (“DeFI”) and Metaverse Non-Fungible Tokens (“NFTs”). With diverse blockchain investment and infrastructure solutions, iMining will be a leader in accelerating the growth of Web3.0 for the enterprise market. The Company’s operations include secure and sustainable cryptocurrency payments, staking, mining and digital asset investment designed for the scale and compliance requirements of institutional clients. iMining is committed to building strong global blockchain ecosystems and supporting inclusive access to digital tools and technologies.
ON BEHALF OF THE BOARD
Signed “Khurram Shroff”
Khurram Shroff, President & CEO
FOR FURTHER INFORMATION, please contact:
iMining Corporate Offices:
Saleem Moosa, Director
Email: investor@imining.com
Telephone: 1-604-602-4935
Toll Free: 1-866-602-4935
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain forward-looking statements, which relate to future events or future performance, and reflect management’s current expectations and assumptions, and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of activities, future cryptocurrency prices, operating risks, and other risks in the cryptocurrency industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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