Bullet Blockchain Receives First Royalty Payment Under Patent Licensing Program

Rhea-AI Summary

BULT - Bullet Blockchain, Inc. announces licensing programs for Bitcoin ATM manufacturers and pursuit of unlicensed violators. The company's subsidiary, First Bitcoin Capital LLC, has executed the first patent license and royalty agreement with a Bitcoin ATM operator and received its first payment under its terms.

 Bullet Blockchain’s subsidiary, First Bitcoin Capital LLC, continues to pursue unlicensed violators of Bullet Blockchain’s Intellectual Property

BULT has introduced several licensing programs for Bitcoin ATM manufacturers, which include a per-transaction licensing fee, revenue share, or partner program with Bitcoin ATM owner-operators

RENO, NV, Nov. 08, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Bullet Blockchain, Inc. (“BULT” or the “Company”), (OTC: BULT), a pioneering software development and SaaS company at the forefront of blockchain technologies and Web 3.0, is pleased to announce that the Company’s subsidiary, First Bitcoin Capital LLC, has executed the first patent license and royalty agreement with a Bitcoin ATM operator and received its first payment under its terms. BULT has introduced several licensing programs for Bitcoin ATM manufacturers, which include a per-transaction licensing fee, revenue share, or partner program with Bitcoin ATM owner-operators. The Company will continue to pursue unlicensed Bitcoin ATM operators and manufacturers violating the Company’s Bitcoin ATM intellectual property portfolio.

Simon Rubin, Chief Executive Officer, commented: “As Bullet Blockchain advances, we look forward to collaborating with Bitcoin ATM owner-operators and assisting their continued operations. Through First Bitcoin Capital’s patent portfolio, we own intellectual property that is enforceable under federal law. As a result, we look forward to working with Bitcoin ATM manufacturers and Bitcoin ATM owner-operators to bring them into compliance in a significant and expanding market.”

As previously announced, BULT acquired First Bitcoin Capital LLC, which owned an intellectual property portfolio consisting of the rights to two Bitcoin ATM patents. By virtue of its subsidiary First Bitcoin Capital LLC, BULT’s intellectual property includes US Patent Nos. US9135787B1 “Bitcoin kiosk/ATM device and system integrating enrollment protocol and method of using the same” (US9135787B1) and US10332205B1 “Bitcoin kiosk/ATM device and system and method of using the same” (US10332205B1) which are extant. The combined patents acquired by BULT are critical for Bitcoin ATM networks to operate. BULT plans to introduce several licensing programs for Bitcoin ATM manufacturers, which will include a per-transaction licensing fee, revenue share, or partner program with Bitcoin ATM owner-operators. As previously announced, BULT has retained counsel to target unlicensed Bitcoin ATM operators and manufacturers.

As the adoption of cryptocurrencies continues to surge, so do the concerns surrounding consumer safety. Unlicensed Bitcoin ATMs have emerged as potential hazards, leaving users vulnerable to illicit activities, fraudulent transactions, and other financial risks. Understanding the paramount importance of consumer protection, Bullet Blockchain has proactively taken this step to safeguard the interests of cryptocurrency enthusiasts. Bitcoin ATMs have experienced significant growth in the United States, driven by the increasing demand for convenient cryptocurrency transactions. According to the website CoinATM Radar, there were nearly 27,456 Bitcoin ATMs in the United States and nearly 2,908 Bitcoin ATMs in Canada as of the time of this release. Bitcoin ATMs are becoming increasingly popular, as they offer a convenient way for people to access the Bitcoin market. As the adoption of cryptocurrencies continues to rise, the future of Bitcoin ATMs in the United States appears promising.

About Bullet Blockchain 
Headquartered in Reno, Nevada, Bullet Blockchain Inc. – common stock is publicly traded on the OTC Markets under the symbol (BULT) – is a diversified software development and SaaS company, specializing in blockchain technologies and Web 3.0, and though its wholly owned subsidiary, First Bitcoin Capital LLC, the owner and licensor of two Bitcoin ATM patents. BULT is committed to driving the innovations needed to shape the future of digital and blockchain-related platforms through digital technology and decentralized blockchain solutions. Management is dedicated to rapid growth and increasing the shareholders’ value. 

Shareholders, potential investors, and others should note that we announce material events and material financial information to our shareholders and the public using our website and the social media addresses listed below, as well as in our OTC Markets’ disclosures, press releases, public conference calls, and webcasts. We also use social media to communicate with our email subscribers and the public about BULT, services, and other related information. It is possible that the information we post on social media could be deemed to be material information. Therefore, we encourage shareholders, the media, and others interested in BULT to review the information we post on BULT’s social media channels listed below. This list may be updated from time to time. 
  
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• For investor and general information, please email  contact@BulletBlockchain.com 

Forward-Looking Statements: 
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors, including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release, and these views could change at some point in the future. However, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. 

Contact us: contact@BulletBlockchain.com

FAQ

What licensing programs has Bullet Blockchain introduced for Bitcoin ATM manufacturers?

Bullet Blockchain has introduced several licensing programs for Bitcoin ATM manufacturers, which include a per-transaction licensing fee, revenue share, or partner program with Bitcoin ATM owner-operators.

What are the intellectual property rights owned by Bullet Blockchain's subsidiary First Bitcoin Capital LLC?

By virtue of its subsidiary First Bitcoin Capital LLC, BULT’s intellectual property includes US Patent Nos. US9135787B1 and US10332205B1, which are critical for Bitcoin ATM networks to operate.

How many Bitcoin ATMs are there in the United States and Canada?

According to CoinATM Radar, there were nearly 27,456 Bitcoin ATMs in the United States and nearly 2,908 Bitcoin ATMs in Canada as of the time of this release.