VANCOUVER, British Columbia--(BUSINESS WIRE)--NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO | OTC: NFTFF) ("NFT Tech") is excited to share the latest developments in its investment portfolio, with a spotlight on the thriving MetaBlox project. Amidst the dynamic shifts in the decentralized market, NFT Tech's strategic investments, particularly in Decentralized Physical Infrastructure Networks (DePIN), have showcased remarkable resilience and innovation. This resilience is also supported by a larger market trend that shows DePIN revenues to be the most resilient of unchain revenues. This update highlights the journey of MetaBlox investment, demonstrating the transformative power of tokenization in bridging web3 with tangible, physical infrastructure.
A cornerstone of the company’s investment approach has been the adoption of the Simple Agreement for Future Tokens (SAFT), an innovative contractual mechanism that primes blockchain projects for success by facilitating early-stage funding. Through SAFTs, the company has empowered projects such as 5ire, MetaBlox, and Faithtribe, providing the foundational support necessary for these ventures to flourish. By prioritizing early investment in these transformative technologies, the company has solidified its commitment to pioneering the future landscape of blockchain and decentralized networks.
In the rapidly expanding domain of decentralized networks, MetaBlox stands out as a beacon of innovation and growth. Stemming from cutting-edge enterprise technologies like Passpoint and OpenRoaming, MetaBlox delivers a pioneering protocol that empowers users to seamlessly traverse different WiFi networks using their decentralized identifiers and corresponding verifiable credentials. By doing so, MetaBlox has established a unified global WiFi OpenRoaming network, seamlessly interlinking distinct WiFi networks. This approach eliminates the tiresome cycle of repeated log-ins, reconnecting, password sharing, and redundant registrations that users currently contend with whenever they try to connect to a new WiFi network.
According to Messari’s State of DePIN 2023 report, WiFi has had the highest growth in the volume of data transferred, users, and the number of nodes deployed. Since its inception, the MetaBlox network has rapidly expanded, boasting deployment of 86,864 miners across all inhabited continents and seeing its user base grow 30X since Q3 2023. This unprecedented growth is underpinned by a surge in investment from the community, recognizing DPIN's potential to revolutionize infrastructure development and management through decentralization. Such a shift signifies the vast economic potential of integrating blockchain technology into physical infrastructure and highlights the increasing confidence of investors in the scalability and viability of DePIN projects.
As we move forward, NFT Technologies remains committed to supporting the growth and innovation of the MetaBlox network. Our investment in MetaBlox is a testament to our belief in the transformative potential of blockchain technology to create a more connected and accessible world.
About NFT Tech
NFT Tech builds and invests in projects and infrastructure that drive web3 adoption through real-world utility. The company's enhanced focus on AI-driven solutions aims to increase consumer engagement and discover new business models with the help of generative AI.
Publicly listed on the NEO exchange under the symbol NFT and on the OTCQB under the symbol NFTFF, NFT Tech leads the charge in connecting traditional capital markets with the forward-looking web3 domain. The company's strategic investment in decentralized physical infrastructure networks (DePIN) exemplifies its ability to pioneer comprehensive ecosystems that leverage blockchain for practical, real-world applications, offering insights and advantages to the public markets.
About MetaBlox
MetaBlox represents a pioneering protocol that empowers users to seamlessly traverse public WiFi networks using their decentralized identifiers (DIDs) and corresponding verifiable credentials (VCs). By doing so, it establishes a unified global WiFi OpenRoaming network, seamlessly interlinking distinct WiFi networks. This approach eliminates the tiresome cycle of repeated log-ins, reconnecting, password sharing, and redundant registrations that users currently contend with during local or international travels. The VC/DID-based Web3.0 WiFi credential is MetaBlox's secret sauce. It allows token incentivization to kick off the flywheel whose logic governs the deployment and expansion of the worldwide decentralized wireless access network.
The integration of MetaBlox heralds the streamlined adoption of cutting-edge Passpoint™ and OpenRoaming™ technologies. Originally conceived by the global WiFi industry for enterprise use, these technologies are poised to assume a pivotal role in the 5G rollout and the alleviation of cellular traffic. MetaBlox strategically enhances adoption across three key dimensions: optimizing the service provisioning process, reducing deployment obstacles, and broadening the user base. Crucially, the MetaBlox network harmonizes with stringent privacy protocols and regulatory standards, cultivating an environment conducive to the proliferation of Web3.0 native applications and users.
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Cautionary Note on Forward-Looking Information
This press release contains forward-looking statements within the meaning of applicable securities laws regarding NFT Tech. These statements are often identified by terms such as "believe," "expect," "anticipate," "estimate," "intend," "plan," "may," "should," "will," "project," "future," "opportunity," and similar expressions. Specifically, this release includes forward-looking statements about the anticipated benefits and impacts of NFT Tech's strategic focus on Decentralized Physical Infrastructure Networks (DePIN) and the launch of Metablox, including potential market opportunities, technological innovations, and strategic partnerships in the web3 and blockchain sectors. While NFT Tech believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to differ materially from those projected or anticipated. These risks include, but are not limited to, challenges in deploying and managing infrastructure within the DePIN sector, market reception to new technologies and platforms, regulatory changes, and broader economic conditions that may affect the adoption and success of decentralized infrastructure projects. Statements regarding the potential of DePIN, Metablox, and related technological and market developments are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ significantly. These include changes in market conditions, technological advancements, regulatory shifts, and other factors that could impact the successful implementation and adoption of NFT Tech's initiatives. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. NFT Tech does not undertake any obligation to publicly update or revise any forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.
No securities regulatory authority has approved or disapproved the contents of this press release. The Neo Exchange has not reviewed this press release for the adequacy or accuracy of its contents.
