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HUMBL CEO Contributes 100 Million BLOCKS to HUMBL Balance Sheet

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HUMBL, Inc. (OTCQB:HMBL) announced that CEO Brian Foote has contributed 100 million BLOCKS to the company's balance sheet, valued at approximately $700,000. These hybrid Web 3 tokens support various blockchain initiatives such as mobile wallets and NFT verification. Foote emphasized the significance of differentiating blockchain digital assets as the company navigates the Web 3 economy.

Some employees are requesting compensation in BLOCKS, reflecting a trend in tech employment. The contribution aims to bolster HUMBL's operations and pilot programs.

Positive
  • CEO Brian Foote contributed 100 million BLOCKS valued at approximately $700,000 to support blockchain initiatives.
  • BLOCKS tokens enable various blockchain applications, enhancing HUMBL's technological capabilities.
  • Increasing demand for decentralized digital assets among employees indicates strong engagement in Web 3.
Negative
  • None.

San Diego, CA, May 17, 2022 (GLOBE NEWSWIRE) -- HUMBL, Inc. (OTCQB:HMBL) announced today that CEO, Brian Foote has contributed 100 million BLOCKS to the HUMBL balance sheet for use in blockchain pilot programs, employee compensation and more.

“As we enter the Web 3, tokenized economy, it will be important for customers to begin separating out the differences in blockchain-based digital assets,” said Brian Foote, CEO of HUMBL. “We believe that hybrid blockchain tokens like BLOCKS, virtual currencies like Bitcoin, stablecoins like USDC and central bank digital currencies, like the Digital Yuan will all play different roles in Web 3 wallets and web platforms.”

BLOCKS were created as hybrid Web 3 tokens that can accommodate a variety of blockchain use cases and tokenized pilot tests, ranging from mobile wallets, verifiable credentials, NFT verification, DAO management and more.

"As has been reported in the financial media, the new generation of tech employees are also increasingly asking to be paid in decentralized digital assets, such as Bitcoin,” continued Foote. “This is no different at HUMBL, where some of our younger employees are requesting that a portion of their compensation be paid in BLOCKS.”

BLOCKS will be recorded as an asset on the HUMBL balance sheet, with an approximate fiat currency value of $700,000 (USD) as of 6:00 AM PST on May 16, 2022.

About HUMBL

HUMBL is a Web3, consumer blockchain platform with consumer and commercial divisions. 

About BLOCKS

BLOCKS are hybrid, decentralized Web 3 blockchain tokens that are used both for blockchain governance and voting, as well as blockchain use cases such as mobile wallets, verifiable credentials, NFT verification and more.

BLOCKS DAO is one of the first legally registered DAO’s in the United States, headquartered and founded in Wyoming. DAO's are decentralized, autonomous organizations that are typically self-governed and managed by token holders through blockchain-based voting. 

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 are BLOCKS and how will they be used by HUMBL?

BLOCKS are hybrid, decentralized Web 3 tokens intended for blockchain applications such as mobile wallets and NFT verification.

What is the financial implication of the CEO's contribution of 100 million BLOCKS?

The CEO's contribution adds an asset valued at approximately $700,000 to HUMBL's balance sheet, supporting blockchain pilot programs and employee compensation.

Why are HUMBL employees requesting compensation in BLOCKS?

Some employees are interested in receiving part of their compensation in BLOCKS, reflecting a trend in the tech industry towards decentralized digital assets.

How does HUMBL's contribution of BLOCKS affect its position in the Web 3 economy?

The contribution aims to support various blockchain initiatives, positioning HUMBL to leverage opportunities in the emerging Web 3 economy.

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