HUMBL Announces Polygon Sidechain Integration to HUMBL NFT Platform

Rhea-AI Summary

HUMBL, Inc. (OTC Markets: HMBL) has successfully integrated the Polygon sidechain into its NFT platform, enhancing NFT delivery for creators while lowering gas fees and minting costs. This Layer 2 solution built on Ethereum facilitates faster and more cost-effective transactions. CEO Brian Foote emphasized the potential of NFTs in the evolving Web 3.0 economy. HUMBL's NFT platform will also connect with its upcoming 'Search 3' Search Engine, launching on May 31, 2022. The integration aims to support creators in the intellectual property space, expanding the NFT ecosystem.

Positive

• Integration of Polygon sidechain into HUMBL's NFT platform enhances delivery efficiency.
• Reduction in gas fees and minting costs for NFT creators.
• Opportunity for HUMBL to support creators in the growing NFT market.

Negative

• None.

San Diego, California, May 25, 2022 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTC Markets: HMBL) announced today that it has completed the integration of the Polygon sidechain into HUMBL’s NFT platform, which will help creators more easily deliver NFTs to their collectors while reducing gas fees and minting costs.

As a Layer 2 solution built on Ethereum, the Polygon sidechain allows users to conduct most transactions on the Ethereum blockchain for, in most cases, a fraction of the cost, and with greater speed than the Ethereum mainchain.

NFTs are unique non-fungible, cryptographic tokens that reside on a blockchain which cannot be replicated, enabling creators to tokenize their intellectual property or work product so that it can be bought, sold and traded in new ways on the blockchain.

“We believe NFTs are still in the very early stages of the Web 3, tokenized economy,” said Brian Foote, CEO of HUMBL. “NFTs have applications across intellectual property, content distribution and fan interaction and we look forward to helping NFT creators experiment with those channels here at HUMBL.”

The HUMBL NFT platform is accessible at HUMBL.com, and will also integrate its technologies over time into HUMBL’s “Search 3” Search Engine, which is launching on May 31, 2022 at Search3.com.

About HUMBL

HUMBL is a Web 3, blockchain platform with consumer products and a HUMBL Blockchain Services (HBS) commercial division.

About Polygon

Polygon believes in Web3 for all. Polygon is a decentralized Ethereum scaling platform and sidechain that enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing on security.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.

CONTACT:

PR@HUMBLPay.com

FAQ

What recent development did HUMBL announce about its NFT platform?

HUMBL announced the integration of the Polygon sidechain into its NFT platform to enhance efficiency and reduce costs.

How does the Polygon sidechain benefit HUMBL's NFT platform?

The Polygon sidechain allows for faster transactions and lower gas fees compared to Ethereum's mainchain.

What is the significance of HUMBL's NFT platform integration?

The integration aims to provide NFT creators with an easier way to deliver and manage their digital assets.

What is the launch date of HUMBL's 'Search 3' Search Engine?

HUMBL's 'Search 3' Search Engine is set to launch on May 31, 2022.

What future prospects did HUMBL's CEO mention regarding NFTs?

CEO Brian Foote highlighted the ongoing growth and potential applications of NFTs across various sectors.