Los Angeles CA, March 31, 2021 (GLOBE NEWSWIRE) — CurrencyWorks Inc. (“CurrencyWorks” or the “Company”), (TSXV: CWRK and OTCQB: CWRK) a financial technology blockchain pioneer, NFT, and digital payment provider today announced a client partnership with Liquid Media Group Ltd. (“Liquid Media” or “Liquid”) (Nasdaq: YVR), to create a unique multi-token IP platform.
The platform, engineered by CurrencyWorks for Liquid Media will serve the evolving needs of film, entertainment, and gaming industry professionals, and capture opportunities to conceptualize and create content once, then monetize it in perpetuity.
The multi-token platform build-out will include NFTs, utility tokens, and eventually security tokens. Both Liquid Media and CurrencyWorks will retain a small portfolio of NFTs and Security Tokens, subject to regulatory approval, creating a content library, supports the artists on its platform, and provide potential upside for shareholders.
“Liquid Media is the ideal client because they have IP that will make an incredibly powerful multi-token platform use-case,” said Cameron Chell, CurrencyWorks Chairman. “NFTs can brokerage a new way to connect with fans across music, film, and gaming creating opportunities for content creators in the entertainment industry. This adds a new revenue stream, in addition to creating stronger engagement with their audience base. The possibilities around what can be created within the platform are endless.”
The CurrencyWorks Liquid Media Token Platform will offer four IP pillars: Creation, Use/Subscription, Financing, and Licensing/Protection.
- CREATION – Intellectual property is the heartbeat of Liquid’s business. The new LMTP will allow IP creators to enhance their offerings through innovative NFTs (non-fungible tokens). While traditional digital collectibles will be available, LMTP will also allow creators, writers, and producers to maximize the full potential of NFTs in short and long-form with built-in licensing and use rights for NFT holders, exclusive content, behind the scenes, and collector’s edition offerings.
- USE/SUBSCRIPTION – Liquid’s new LMTP will enable the creation and management of utility tokens for subscribers to access various types of content or events, including but not limited to film genre, film writer, film producer, TV programs, entertainment niches, lives events, online events, games, downloadable content, and specific game architects.
- FINANCING – Production financing is key to a project’s success and ultimately its completion. The new LMTP from Liquid will assist in the formation and distribution of Security Token Offerings (STOs), subject to regulatory approvals, for projects that are unable to secure traditional financing, that may have multiple assets of differing values and appeal that can be subdivided, or project managers preferring decentralized finance (DeFi).
- LICENSING/PROTECTION – Leveraging CurrencyWorks’ image rights platform, the new LMTP will give industry professionals the ability to discover patent infringement as well as manage ongoing copyrights, licenses, and royalties for all NFTs. These NFTs can be monetized in perpetuity with both the creator and Liquid sharing in the ongoing royalties.
“Liquid’s innovative new multi-token platform that CurrencyWorks is creating will have the potential power to dramatically accelerate and de-risk the business of any small or independent content creator,” said Ron Thomson, CEO of Liquid Media. “We look forward to working with CurrencyWorks with our business solutions from concept through to monetization. Liquid will be there from start to finish.”
Both Liquid Media and CurrencyWorks will retain a small portfolio of NFTs and Security Tokens, creating a content library, supports the artists on its platform, and provide potential upside for shareholders. Additionally, to cement the partnership, the companies will swap undisclosed equity considerations, while CurrencyWorks will receive cash consideration for the initial development of the platform.
A pioneer in the NFT space, the CurrencyWorks Collectibles NFT platform includes unique features and capabilities to help drive value and the best user experience of the NFTs created and managed for its customers. CurrencyWorks has value-add features including the design of NFTs, automatic copyright registration with the United States copyright office, automated usage tracking, and license management in addition to exclusive content, features, and benefits.
CurrencyWorks recently announced that it will be creating the first NFTs for the Barrett-Jackson Auction Company. Debuting in the first series will be auctions and exclusive content of the sale of VIN 001 vehicles including 2021 Ford Bronco 2-Door VIN 001, 2022 GMC Hummer EV Edition 1 VIN 001, 2021 Ram 1500 TRX Launch Edition VIN 001, and 2021 Ford Mustang Mach 1 VIN 001.
About Liquid Media Group Ltd.
Liquid Media Group Ltd. (Nasdaq: YVR) is a business solutions company empowering independent IP creators. Liquid’s end-to-end solution will enable professional video (film/TV and video game) creation, packaging, financing, delivery, and monetization, empowering IP creators to take their professional content from inception through the entire process to monetization. The groundbreaking new Liquid Media Token Platform will empower its users to capitalize and monetize all four pillars of IP: Creation, Use/Subscription, Financing, and Licensing/Protection.
Additional information is available at www.liquidmediagroup.co.
Liquid Media Group Ltd.
+1 (416) 489-0092
Media and Analyst Relations Manager
Primoris Group Inc.
+1 (416) 489-0092 x 226
CurrencyWorks Inc. (TSXV: CWRK and OTCQB: CWRK) is a publicly-traded company that builds and operates FinTech Platforms for Digital Currencies, Digital Assets, and Security Tokens.
Bruce Elliott, President
Disclaimer for Forward-Looking Statements
This news release contains “forward-looking statements.” Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things: the statements relating the launch of the NFT platform in Q2 of 2021; the statements relating to creating the first NFTs for the Barrett-Jackson Auction Company; and that creating accessibility to Liquid Media’s users through CurencyWorks’ proprietary platform to NFTs such as the recently announced VIN001 series from Barrett-Jackson is another step in broadening the Company’s base.
The material assumptions supporting these forward-looking statements include, among others, that Barrett Jackson Auction Company and the Company will enter into a definitive agreement with respect to the transactions contemplated under the letter of intent (the “LOI”) and complete the transactions as contemplated; that there will be no material variations in current regulatory environments in which the Company operates; the perceived benefits from the Company’s blockchain solutions will be as expected; and the Company will be able to obtain any necessary financing on acceptable terms. 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 parties will not enter into a definitive agreement as contemplated in the LOI or at all; the risk that the parties will not complete the transactions contemplated in the LOI; the parties will not complete the transactions as contemplated in the agreement between the Company and Liquid Media; the risk that the Company will be unable to efficiently build the blockchain solutions; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete the blockchain solutions; the risk that the Company may not be able to obtain additional financing as necessary; the risk that there may be increases in capital and operating costs as a result of working on the blockchain solutions; the risk that the blockchain solutions may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain that make the blockchain solutions obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the blockchain solutions; the risk that other competitors may release similar blockchain solutions; and other general risks involved in the blockchain solutions.
Any of these risks may 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 these forward-looking statements. Further, although 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 forward-looking statements, there may be other factors that cause results, levels of activity, performance or achievements not to be as anticipated, estimated or intended. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. The Company does not assume any liability for disclosure relating to any other company mentioned herein.
Neither 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.