General Entertainment Ventures Begins Artist NFT Development Program
General Entertainment Ventures (GEVI) has initiated an NFT development strategy through its subsidiary, Strategic Asset Holdings. This involves minting NFTs for a portfolio from an upcoming Grammy-winning artist and their record label. NFTs provide digital ownership authenticity, similar to certificates for physical items. Interim CEO Jason Tucker expressed enthusiasm about minting NFTs under this new management. The strategy aims to leverage popularity among artists and fans to boost engagement and potential revenue in the digital assets space.
- Initiation of NFT development strategy through Strategic Asset Holdings.
- Portfolio acquisition from a Grammy-winning artist and their management team.
- Potential for increased revenue through minting NFTs for music projects.
- No specific financial metrics or projections provided regarding the NFT initiative.
MIDDLETOWN, DE / ACCESSWIRE / May 25, 2021 / General Entertainment Ventures, Inc. (OTC PINK:GEVI) the "Company", is pleased to announce its NFT development strategy.
NFT stands for Non-Fungible Token, something like a Certificate of Authenticity. In real life, classic artwork, historical artifacts or memorabilia are often sold at auction with receipts indicating the object's authenticity.
NFT's do the same thing for digital items. They certify uniqueness in GIF, JPEG, MP3 and any other format. This technology creates a new kind of unique ownership for digital files that wasn't previously possible. NFTs can be bought, acquired, or sold, as physical objects.
The process of converting your work into NFT is called "Minting", which refers to the process of creating a new blockchain coin which will forever be attached to that content, such as a music file.
NFT's are increasingly popular among athletes and music artists for offering unique items to fans.
The Company's subsidiary, Strategic Asset Holdings, has previously operated in the crypto and tech spaces and is uniquely qualified to act as a division of GEVI to handle NFT's for artist portfolios.
As previously announced, the Company has an Agreement for incoming management consisting of a Grammy winning music Artist, as well as the Artist's management team.
In addition, the Artist, which will be announced shortly, will be bringing in a portfolio of assets. Namely the Artist's record label. Strategic Asset Holdings will be responsible for minting NFT's for the Artist's music projects as well as minting NFT's for the roster of music artists under the label.
Stated Interim CEO, Jason Tucker: "I'm really intrigued to begin minting NFT's under the Strategic sub for the incoming record label. As it stands, once new management comes in, the plan is for me to stay on to operate Strategic and the NFT minting program, which is perfectly suited for my background. We will continue to keep shareholders updated as our business plan progresses."
Forward Looking Statements:
This press release contains forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
CONTACT:
Jason Tucker - 908-312-1014
Twitter:
@GEVI_CEO
SOURCE: General Environmental Management, Inc.
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