International Motorsport Hall of Fame to Launch NFTs on CurrencyWorks’ Motoclub.io Platform
CurrencyWorks Inc. (CSE: CWRK, OTCQB: CWRK) has entered a memorandum of understanding with the International Motorsports Hall of Fame (IMHOF) to develop NFTs on the motoclub.io platform. This collaboration aims to create NFTs based on historical motorsport memorabilia curated by IMHOF, enhancing fan engagement and preserving motorsport history. CurrencyWorks will provide a customized NFT platform, recouping development costs through initial and secondary market sales. The partnership is seen as a natural evolution in extending motorsports' legacy through digital collectibles.
- Partnership with IMHOF to develop NFTs enhances brand visibility.
- Potential to recoup development costs through sales in primary and secondary markets.
- Creation of a customized NFT platform may attract more users to motoclub.io.
- Dependence on regulatory compliance for NFT operations.
- Potential risks related to technology changes and market competition in blockchain solutions.
Los Angeles CA, June 30, 2021 (GLOBE NEWSWIRE) -- CurrencyWorks Inc. (“CurrencyWorks” or the “Company”), (CSE: CWRK and OTCQB: CWRK), a financial technology blockchain pioneer, NFT, and digital currency payment provider, today announced the entry into a memorandum of understanding (the “MOU”) to build, develop and promote NFTs for the International Motorsports Hall of Fame (IMHOF) on the motoclub.io platform.
CurrencyWorks has agreed to create and advance NFTs in line with historical motorsport memorabilia which International Motorsports Hall of Fame curates and is in the guardianship of.
Since 1983 the International Motorsports Hall of Fame has continued to exhibit and showcase some of the most historical artifacts in motorsports at its home in Talladega, Alabama.
CurrencyWorks is expected to provide a customized, white-labeled experience through the “motoclub.io” NFT platform for the minting, selling, and trading of NFTs. (all subject to regulatory compliance). CurrencyWorks has also agreed to provide the full product development for a set of NFTs, recouping their development costs through the primary sales, and sales on secondary market trading.
“Since 1983, The International Motorsports Hall of Fame has been the home to some of the most historical artifacts in all of motorsports,” said Senator Gerald Dial, Chairman, International Motorsports Hall of Fame. “Immortalizing this history through the creation of NFTs aligns directly with our mission, which is the enshrinement of the greats of motorsports. We are very excited to work with the team at CurrencyWorks, who are leaders in this space.”
Cameron Chell, Executive Chairman commented on the announcement: “To be able to extend the history of motorsports to fans through the creation of NFTs is a natural progression for the International Motorsports Hall of Fame. The trust that the board of IMHOF has put in our team to continue their legacy through a digital platform is a great honor.”
About CurrencyWorks
CurrencyWorks Inc. (CSE: CWRK and OTCQB: CWRK) is a publicly traded company that builds and operates blockchain platforms for digital currencies, assets, and 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
About Motoclub.io
Motoclub is a digital collectible space for automotive enthusiasts and fans of automotive memorabilia. Motoclub partners with some of the biggest names in motorsport, classic and contemporary vehicles, to bring collectors some of the most unique and exclusive digital collectibles available today.
All Motoclub collectible NFTs are minted, sold, and traded through its own specially created platform for buyers to enjoy through their own Motoclub digital wallets.
The Motoclub platform is supported and managed by blockchain pioneers CurrencyWorks Inc.
For more information go to http://www.motoclub.io
Media Contact
Richard Hilton
media@motoclub.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: that the Company is expected to provide a customized, white-labeled experience through the “motoclub.io” NFT platform for the minting, selling, and trading of NFTs. (all subject to regulatory compliance).
The material assumptions supporting these forward-looking statements include, among others, that the Company and International Motorsports Hall of Fame will enter into a definitive agreement with respect to the transactions as contemplated under the memorandum of understanding between the Company and International Motorsports Hall of Fame 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 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.
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