Codebase Explores NFT Blockchain Ecosystem Investments

Rhea-AI Summary

Codebase Ventures (OTCQB: BKLLF) is enhancing its blockchain investment strategy by focusing on NFTs (non-fungible tokens). The company aims to capitalize on the growing interest in NFTs, highlighted by significant sales like Beeple's $65M auction. With over $100 million in digital art sales in the last month, NFTs are recognized as a rapidly expanding sector. Codebase plans to invest in innovative NFT companies while leveraging its advisor network for future opportunities. Additionally, it has engaged Digitonic Ltd. for $216,000 USD to boost investor awareness.

Positive

• Exploration of NFT assets aligns with current industry trends.
• Partnership with advisors may enhance investment opportunities.
• Engagement of Digitonic Ltd. for investor awareness could improve market visibility.

Negative

• None.

Newly Appointed Advisors' Network Positions Code to Identify and Secure Prime NFT Assets

VANCOUVER, BC / ACCESSWIRE / March 31, 2021 / Codebase Ventures Inc. ("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is updating its blockchain ecosystem investment strategy as the Company and its advisors actively explore NFT (non-fungible token) assets. Given the Company's current portfolio of blockchain ecosystem assets, NFT's represent a natural progression of its strategy.

After the sale of Beeple's NFT fetching $65M¹ at auction earlier this month, the interest in non-fungible tokens has moved to the forefront as investors and speculators turn to blockchain-based NFTs as potential investment vehicles. With over $100 million worth of digital art and collectables being sold on the open market in the past 30 days,² NFT's are one the fastest growing areas of blockchain and blockchain-based assets.

Jack Dorsey, the CEO and Co-Founder of Twitter further fueled the flames after selling his own NFT of the first ever ‘Tweet' published to Twitter for $2.9M.³ Time Magazine followed suit, releasing plans to auction off three unique NFTs of TIME's most iconic magazine covers.⁴

"In any market experiencing explosive growth, there are always going to be pioneers pushing the space forward and those who are looking to profit, Code is the former, a pioneer with the expertise and strong network that is focused on the next generation use cases for NFT's," comments Codebase advisor, Mr. Jake Chernoff. "We'll see NFTs emerge in non-conventional areas of our lives, with tokenizing of real-world assets and important documents on the blockchain being a few I believe we'll see sooner than later. In the long term it is the real-world use cases that excite us most, and represent the areas we will focus our attention towards."

As Codebase navigates the quickly developing world of NFTs by leveraging their relationships and newly acquired expertise, they will look to invest in the next generation of NFTs and the companies that they believe will continue to push the space forward.

About NFT's:

A non-fungible token or NFT, is a unique token or asset existing on a blockchain such as Ethereum. Unlike other popular cryptocurrencies such as Bitcoin or Ethereum which are fungible, meaning they can be swapped or exchanged with other coins of the same type. NFTs contain unique data and cannot be replicated or exchanged with similar tokens, making them non-fungible in nature. In simpler terms, this means that the asset is "one-of-a-kind" and can be verified authentic using the blockchain.

The Company also announced that it has engaged Digitonic Ltd. for $216,000 USD to provide investor awareness services over a 2-month period.

¹https://techcrunch.com/2021/03/11/beeples-69-million-nft-sale-marks-a-potentially-transformative-moment-for-the-art-world/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAFVO2-opAurqYraviPMempPpLx6b3b_5cOflKHDvruEeTwfdly2s4MAeQ5xtshcpFJ_3EUpV5_amN1K--THzo9vqNVHL6iZ4GSpLSKRUf2J0x_rElWKmbIy5MFX-3y8tLlyF8Kadt1QhPz0nhkVabv8JF9GX2HzwOwOemq2DQvj7

² https://dappradar.com/ethereum/marketplaces/opensea

³ https://www.wsj.com/articles/jack-dorseys-first-tweet-sells-as-nft-for-2-9-million-11616455944

⁴ https://time.com/5948741/time-nft-covers/

About Codebase Ventures Inc.

Codebase Ventures Inc. seeks early-stage investments in sectors that have significant upside. We seek innovators who are establishing tomorrow's standards. We support those innovators and help take their ideas to market.

For further information, please contact:

George Tsafalas - Ivy Lu
Investor Relations
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: IR@codebase.ventures

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Codebase Ventures Inc.

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FAQ

What is the focus of Codebase Ventures' recent update?

Codebase Ventures is focusing on NFT assets as part of its blockchain investment strategy.

How much is Codebase Ventures paying Digitonic Ltd. for investor awareness services?

Codebase Ventures has engaged Digitonic Ltd. for $216,000 USD.

What recent NFT sales have influenced Codebase Ventures' strategy?

The $65M sale of Beeple's NFT and Jack Dorsey's $2.9M NFT sale have sparked interest in NFTs.

What is the stock symbol for Codebase Ventures?

The stock symbol for Codebase Ventures is BKLLF.