Vancouver, British Columbia, June 3,2022 – NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO) ("NFTTech"),a leading technology company to mainstream decentralized ownership, NFTsand the metaverse for public markets, announced today its participation in theMove-to-Earn (M2E) project Walken.
M2Eis a cultural phenomenon in the crypto space that began with projects like Sweatcoin and Pokémon Go. Walken is a Web3 lifestyle app that connects real-life activities with online gaming and crypto earning. Like allM2E games, the more users move, the more game currency they earn. The game’s tokens, WLKN, can either be reinvested into the game or cashed out.
“Thissector is growing extremely quickly. One of the market leaders already has amarket cap of over $6B US (STEPN) and people of all ages are still walkingaround collecting pokémon on Pokémon Go. That’s why we’re firm believers thatthis is a sector to further bring adoption to the crypto ecosystem. Whetheryou’re collecting pokémon or earning points on your Fitbit, a lot of people arealready participating in move to earn without knowing it. We’re super excitedto be participating in this project and expect the M2E sector to continue togrow,” said Wayne Lloyd, Executive Chairman of NFT Tech.
NFTTech’s investment, along with NFT Tech consultant Adam De Cata’s experience indelivering merchandising and other deals to M2E projects, are set to play a keyrole in Walken’s success. In addition to bringing strategic partners to assistin the WLKN token launch, the relationship is facilitating Walken’s explorationinto new protocols and trends and making important connections for the team tostrengthen the existing ecosystem.
“We’rehappy to welcome NFT Tech’s participation. Having a public company supportingus helps us stand out from the crowd. With NFT Tech’s crypto expertise, we seetheir involvement as something much bigger than a simple investment and expectto see further collaboration in the future,” said Alexei Kulevets, Co-Founderand CEO of Walken.
NFTTech entered into an agreement with the team behind Walken on June 3, 2022.According to the agreement,NFT Tech will provide financial support forthe Walken project and to collaborate with the creators by leveraging NFTTech's broad experience in cryptogaming and capital markets and providingadvice on navigating M2E in the broader P2E and Web3 landscape.
Asimilar project, STEPN, an app built on Solana’s blockchainthat rewards users for walking, jogging, or running outside, recorded over650,000 monthly active users in May 2022. STEPN is earning up to $100 million every month,which is more than double the number for April, which was triple the figure forMarch. Approximately 30% of STEPN’s users come from outside of crypto,which highlights how M2E can onboard people to Web3 – a task that otherapplications have yet to achieve.
Walken is a Move-to-Earn mobile app built by a team that uses the movement detection capabilities of standard smartphones and wearable devices to capture the stepcounts of users, who are then rewarded with WLKN tokens for in-app game play and NFTs. Developed by the team behind Appyfurious and GetFit Apps, Walken isdedicated to linking gaming and crypto to a healthy, active lifestyle.
About NFT Tech
NFTTech works to develop infrastructure, assets, real estate and IP in the metaverse, build and generate revenue from P2E and M2E games, and bringinsights and benefits to the public markets. By bridging the gap between traditional capital markets and the Web3 space, NFT Tech is mainstreaming decentralized ownership, NFTs, and the metaverse. Current projects includefounding the GOAT Guild and Fuku.
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