CurrencyWorks Signs Agreement with XTM to Enable its Today™ Global Wallet Holders to Purchase NFTs

Rhea-AI Summary

CurrencyWorks announced a partnership with XTM to integrate its NFT platform with XTM's Today Mobile Wallet, enhancing access to NFTs. This collaboration aims to broaden CurrencyWorks' user base and capitalize on the growing demand for NFTs, which saw a 1,785% market cap increase in 2021. CurrencyWorks is set to launch its NFT platform in Q2 2021, debuting with exclusive Barrett-Jackson Auctions NFTs including VIN 001 vehicles. This move positions CurrencyWorks as a leading innovator in the NFT space.

Positive

• Partnership with XTM aims to expand user access to NFTs through Today Mobile Wallet.
• CurrencyWorks' NFT platform set to launch in Q2 2021.
• Growth in NFT market demand, with a reported 1,785% increase in market cap in 2021.

Negative

• Dependence on forward-looking statements regarding the successful launch of the NFT platform.
• Risks related to potential failure in executing agreements as contemplated in the LOI.

Los Angeles CA, March 30, 2021 (GLOBE NEWSWIRE) -- CurrencyWorks Inc. (“CurrencyWorks” or the “Company”), (TSXV: CWRK and OTCQB: CWRK) a financial technology blockchain pioneer and digital payments provider today announced that XTM Inc. (“XTM”) (OTCQB: XTMIF) (CSE:PAID), (FSE:7XT), has signed an agreement with CurrencyWorks to enable its Today Mobile Wallet holders access to its industry-leading CurrencyWorks Collectibles NFT platform and proprietary NFT payment platform at its launch in Q2 of 2021.

A pioneer in the NFT space, the CurrencyWorks Collectibles NFT platform includes unique features and capabilities to help drive value and the best user experience of the NFTs created and managed for its customers. CurrencyWorks has value-add features including the design of NFTs, automatic copyright registration with the United States copyright office, automated usage tracking, and license management in addition to exclusive content, features, and benefits.

CurrencyWorks recently announced that it will be creating the first NFTs for the Barrett-Jackson Auction Company. Debuting in the first series will be auctions and exclusive content of the sale of VIN 001 vehicles including 2021 Ford Bronco 2-Door VIN 001, 2022 GMC Hummer EV Edition 1 VIN 001, 2021 Ram 1500 TRX Launch Edition VIN 001, and 2021 Ford Mustang Mach 1 VIN 001.

“According to Forbes, within less than three months, the combined market cap of major NFT projects has increased by 1,785% in 2021. Demand for participation in acquiring NFTs is quickly accelerating,” said Cameron Chell, Chairman, CurrencyWorks. “Creating accessibility to XTM’s Today users through CurrencyWorks’ proprietary platform to NFTs such as the recently announced VIN001 series from Barrett-Jackson is another step in broadening our base.”

“We have growing demand from our mobile subscribers for easy access to an NFT provider,” commented Marilyn Schaffer, CEO of XTM. “With CurrencyWorks being the leader and innovator in the space this exclusive choice was an easy one.”

About XTM
XTM, www.xtminc.com is a Miami and Toronto-based fintech innovator in the neo-banking space helping business and workers alike expedite earnings payout and eliminate banking fees. XTM is a global card issuer and real-time payment specialist providing its technology to businesses to automate and expedite worker payouts that can also eliminate cash. XTM integrates businesses to a payment ecosystem that is coupled with a free mobile app and a Visa or Mastercard debit card with free banking features. XTM drives enterprise value and creates a positive user experience.

About CurrencyWorks
CurrencyWorks Inc. (TSXV: CWRK and OTCQB: CWRK) is a publicly-traded company that builds and operates FinTech Platforms for Digital Currencies, Digital Assets, and Security Tokens.

For more information on CurrencyWorks, please visit us at www.currencyworks.io. For additional investor info visit www.currencyworks.io or www.sedar.com and www.sec.gov searching CWRK.

Media Contact
Arian Hopkins
arian@currencyworks.io

Company Contact
Bruce Elliott, President
Phone: 424-570-9446
Bruce.elliott@currencyworks.io

Disclaimer for Forward-Looking Statements

This news release contains “forward-looking statements.” Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things: the statements relating the launch of the NFT platform in Q2 of 2021; the statements relating to creating the first NFTs for the Barrett-Jackson Auction Company; and that creating accessibility to XTM’s Today users through CurencyWorks’ proprietary platform to NFTs such as the recently announced VIN001 series from Barrett-Jackson is another step in broadening the Company’s base.

The material assumptions supporting these forward-looking statements include, among others, that Barrett Jackson Auction Company and the Company will enter into a definitive agreement with respect to the transactions contemplated under the letter of intent (the “LOI”) and complete the transactions as contemplated; that there will be no material variations in current regulatory environments in which the Company operates; the perceived benefits from the Company’s blockchain solutions will be as expected; and the Company will be able to obtain any necessary financing on acceptable terms. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the risk that the parties will not enter into a definitive agreement as contemplated in the LOI or at all; the risk that the parties will not complete the transactions contemplated in the LOI; the parties will not complete the transactions as contemplated in the agreement between the Company and XTM; the risk that the Company will be unable to efficiently build the blockchain solutions; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete the blockchain solutions; the risk that the Company may not be able to obtain additional financing as necessary; the risk that there may be increases in capital and operating costs as a result of working on the blockchain solutions; the risk that the blockchain solutions may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain that make the blockchain solutions obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the blockchain solutions; the risk that other competitors may release similar blockchain solutions; and other general risks involved in the blockchain solutions.

Any of these risks may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Further, although the Company has attempted to identify factors that could cause actual results, levels of activity, performance or achievements to differ materially from those described in forward-looking statements, there may be other factors that cause results, levels of activity, performance or achievements not to be as anticipated, estimated or intended. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. The Company does not assume any liability for disclosure relating to any other company mentioned herein.

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

FAQ

What is the significance of CurrencyWorks' partnership with XTM?

The partnership allows XTM's Today Mobile Wallet users to access CurrencyWorks' NFT platform, enhancing user engagement and expanding market reach.

When is the CurrencyWorks NFT platform expected to launch?

The CurrencyWorks NFT platform is set to launch in Q2 2021.

What is the projected market growth for NFTs mentioned in the CurrencyWorks press release?

The press release states an impressive 1,785% increase in the market cap of major NFT projects in 2021.

What exclusive content will CurrencyWorks provide through its NFT platform?

CurrencyWorks will debut NFTs related to Barrett-Jackson Auctions, including exclusive content and auctions for VIN 001 vehicles.

What risks are associated with CurrencyWorks' forward-looking statements?

There are risks regarding the successful execution of agreements under the letter of intent and potential operational challenges in launching the NFT platform.