Codebase Outlines Proposed Strategy for Metaverse Investments

Rhea-AI Summary

Codebase Ventures Inc. (OTCQB: BKLLF) is unveiling its strategy for investing in the metaverse, focusing on acquiring assets such as underlying currencies and virtual property. Leveraging expert advice, the company aims to build a portfolio in the emerging metaverse market, estimated to reach USD 800 billion by 2024. Jake Chernoff, a technology advisor, emphasizes the transformative impact of the metaverse on communication and interaction, asserting that this industry is still in its early stages. The company believes that positioning itself within this sector will be crucial for future growth.

Positive

• Potential for growth in the metaverse market, estimated at USD 800 billion by 2024.
• Strategic focus on accumulating key investments in the DeFi ecosystem.

Negative

• None.

• Building on expertise of Company advisors, Codebase is actively acquiring assets within metaverse environments
• Potential investments will include underlying metaverse currencies and property
• Bloomberg Intelligence recently estimated that the metaverse's market size will reach USD 800bn by 2024¹

VANCOUVER, BC / ACCESSWIRE / March 2, 2022 / Codebase Ventures Inc. ("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to provide an overview of its proposed metaverse investment strategy.

The Company's is contemplating an investment portfolio, focused upon accumulating key investments in the DeFi ecosystem as a result of extensive research and planning with Company advisors in alignment with Codebase's blockchain, DeFi investment thesis.

"The metaverse is assumed to be the next phase of the internet that will see the merging of virtual reality (VR), augmented reality (AR), and mixed reality (MR) with the real world.

In simpler terms, the metaverse can be viewed as a collection of virtual worlds that are interrelated, just like how the world wide web is a nexus of connected websites. This internet-native world might change the world from what it is today by providing an alternative digital reality where humans will be able to "live," work, and play. It is expected to be the successor of the mobile internet, similar to how Web 3.0 is expected to become the successor of Web 2.0."²

"The metaverse and virtual reality represent immersive technologies with the potential to completely change the way we communicate, play games, and even visit our loved ones - and we've only seen this growth accelerate throughout the pandemic," said Jake Chernoff, Codebase Technology Advisor. "Although we are seeing these technologies develop at an accelerated pace, the metaverse is an early stage, unexplored industry - and the race for metaverse superiority is just beginning."

The potential to acquire underlying currencies and property within the metaverse is a key strategic investment pillar for Codebase to position the Company with assets within this emerging space.

¹https://www.bloomberg.com/professional/blog/the-metaverse-is-already-now-four-surprising-bi-charts/

² https://cryptonews.com/exclusives/investing-in-the-metaverse-4-ways-to-invest-in-virtual-future.htm

About Codebase Ventures Inc.

Codebase Ventures Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem and fintech. The Company identifies such opportunities and applies its relationships and capital to advance its interests.

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", "may" 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, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, lack of investor demand for Bitcoin and/or Bitcoin futures exchange traded funds, 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 Codebase Ventures' strategy for metaverse investments?

Codebase Ventures plans to acquire assets in the metaverse, including underlying currencies and virtual property, as part of its investment strategy.

What is the market size projection for the metaverse?

Bloomberg Intelligence estimates the metaverse's market size will reach USD 800 billion by 2024.

What is the significance of the metaverse according to Codebase Ventures?

Codebase Ventures views the metaverse as a transformative digital space that merges virtual and augmented realities, influencing how people communicate and interact.

What ticker symbol is associated with Codebase Ventures?

The ticker symbol for Codebase Ventures is BKLLF.