Metasphere Updates on Strategic Projects and Plans for Future Developments
Metasphere Labs has provided updates on several key projects and strategic decisions. The company successfully completed its work for Bluesphere Ventures on November 1, 2024, advancing the 'Ents World' eco-conscious metaverse initiative. The partnership with Bot Ventures has been terminated, with Metasphere retaining the developed assets. The company is finalizing a VR retail platform for ARCannabis, expected this quarter. Progress continues on the CarbonBot protocol collaboration with Ecoblox and Pure Sky, with plans for certification and registry submission. Moving forward, Metasphere will focus on metaverse and mini-app development on the Telegram platform using TON blockchain.
Metasphere Labs ha fornito aggiornamenti su diversi progetti chiave e decisioni strategiche. L'azienda ha completato con successo il suo lavoro per Bluesphere Ventures il 1 novembre 2024, facendo progressi nell'iniziativa eco-consapevole del metaverso 'Ents World'. La partnership con Bot Ventures è stata interrotta, con Metasphere che conserva gli asset sviluppati. L'azienda sta ultimando una piattaforma di vendita al dettaglio in VR per ARCannabis, prevista per questo trimestre. I progressi continuano sulla collaborazione del protocollo CarbonBot con Ecoblox e Pure Sky, con piani per la certificazione e la presentazione del registro. Andando avanti, Metasphere si concentrerà sullo sviluppo di metaverso e mini-app sulla piattaforma Telegram utilizzando la blockchain TON.
Metasphere Labs ha proporcionado actualizaciones sobre varios proyectos clave y decisiones estratégicas. La empresa completó con éxito su trabajo para Bluesphere Ventures el 1 de noviembre de 2024, avanzando en la iniciativa de metaverso eco-consciente 'Ents World'. La asociación con Bot Ventures ha sido terminada, con Metasphere reteniendo los activos desarrollados. La empresa está finalizando una plataforma de venta al por menor en VR para ARCannabis, que se espera este trimestre. Los avances continúan en la colaboración del protocolo CarbonBot con Ecoblox y Pure Sky, con planes para la certificación y la presentación del registro. De cara al futuro, Metasphere se centrará en el desarrollo de metaverso y mini-apps en la plataforma de Telegram utilizando la blockchain TON.
메타스피어 연구소는 여러 주요 프로젝트와 전략적 결정에 대한 업데이트를 제공했습니다. 회사는 2024년 11월 1일에 블루스피어 벤처스를 위한 작업을 성공적으로 완료하고 '엔츠 월드' 친환경 메타버스 이니셔티브를 발전시켰습니다. Bot Ventures와의 파트너십은 종료되었으며, 메타스피어는 개발된 자산을 보유하고 있습니다. 회사는 ARCannabis를 위한 VR 소매 플랫폼을 최종 조정 중이며, 이번 분기에 출시될 예정입니다. CarbonBot 프로토콜의 Ecoblox 및 Pure Sky와의 협력도 계속 진행 중이며, 인증 및 등록 제출 계획이 있습니다. 앞으로 메타스피어는 TON 블록체인을 사용하여 Telegram 플랫폼에서 메타버스 및 미니 앱 개발에 집중할 것입니다.
Metasphere Labs a fourni des mises à jour sur plusieurs projets clés et décisions stratégiques. L'entreprise a terminé avec succès son travail pour Bluesphere Ventures le 1er novembre 2024, faisant avancer l'initiative de métavers éco-consciente 'Ents World'. Le partenariat avec Bot Ventures a été résilié, Metasphere conservant les actifs développés. L'entreprise finalise une plateforme de vente au détail en VR pour ARCannabis, attendue ce trimestre. Les progrès se poursuivent sur la collaboration du protocole CarbonBot avec Ecoblox et Pure Sky, avec des plans pour la certification et la soumission de registre. À l'avenir, Metasphere se concentrera sur le développement de métavers et de mini-apps sur la plateforme Telegram utilisant la blockchain TON.
Metasphere Labs hat Aktualisierungen zu mehreren wichtigen Projekten und strategischen Entscheidungen bereitgestellt. Das Unternehmen hat am 1. November 2024 erfolgreich seine Arbeit für Bluesphere Ventures abgeschlossen und die umweltbewusste Metaverse-Initiative 'Ents World' vorangetrieben. Die Partnerschaft mit Bot Ventures wurde beendet, wobei Metasphere die entwickelten Vermögenswerte behält. Das Unternehmen finalisiert eine VR-Einzelhandelsplattform für ARCannabis, die für dieses Quartal erwartet wird. Die Fortschritte bei der Zusammenarbeit am CarbonBot-Protokoll mit Ecoblox und Pure Sky setzen sich fort, mit Plänen für Zertifizierung und Registrierungseinreichung. In Zukunft wird sich Metasphere auf die Entwicklung von Metaverse und Mini-Apps auf der Telegram-Plattform unter Verwendung der TON-Blockchain konzentrieren.
- Successful completion of Bluesphere Ventures project
- Retention of developed assets from Bot Ventures project without termination costs
- Near completion of VR retail platform for ARCannabis
- Advancement of CarbonBot protocol with potential certification
- Termination of Bot Ventures partnership
- Missed showcase opportunity at MWC Americas for CarbonBot protocol
- Change in strategy from public benefit structure for CarbonBot
VANCOUVER, British Columbia, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (“Metasphere” or the “Company”) (CSE: LABZ) (OTC: LABZF) (FRA: H1N) , a leader in blockchain, metaverse, and decentralized identity technology, is pleased to update its stakeholders on the recent advancements and strategic decisions across its key partnerships.
Delivery of Project for Bluesphere Ventures
On November 1, 2024, Metasphere completed and delivered its work for Bluesphere Ventures Inc., which was initially announced in March 21, 2024. This milestone highlights Metasphere's capability to meet demanding timelines, furthering progress toward the shared vision of "Ents World," an eco-conscious open metaverse initiative.
Termination of Partnership with Bot Ventures
Following the May 8, 2024 announcement, Metasphere has decided to reprioritize its resources, mutually agreeing with Bot Ventures to terminate the decentralized identity project (the “Termination”). Metasphere retains the developed assets and may explore launching the project independently in the future, although no immediate plans are in place. There are no costs related to the Termination.
Advancement of VR Platform with ARCannabis
As part of its definitive agreement with ARCannabis announced on June 21, 2024, Metasphere is finalizing the development of a VR retail platform, with delivery expected by the end of this quarter. This immersive experience will redefine customer interactions within virtual reality.
Development of CarbonBot Protocol with Ecoblox and Pure Sky
Significant progress has been achieved on the carbon-aware routing protocol collaboration with Ecoblox and Pure Sky, announced in July 9, 2024. The project now operates collectively under the CarbonBot brand, deviating from initial plans for a public benefit corporation. While the protocol was not showcased at MWC Americas, the partnership is considering participation in MWC 2025 in Barcelona. The completed Carbon Offsetting Protocol is available on GitHub, with plans underway for an audit by either an ISO or UN-certified VVB (Verification and Validation Body), potentially making it the first recognized carbon offsetting protocol to meet stringent environmental standards, following which it will be submitted to the Pure Sky Registry to be voted on by its members.
Future Focus: TON Blockchain and Metaverse Development on Telegram
As Metasphere looks forward, its focus will shift toward metaverse and mini-app development on the Telegram Messenger platform, leveraging the Telegram Open Network (TON) blockchain. This strategic shift aligns with Metasphere’s mission to democratize access to decentralized applications within widely adopted social ecosystems, offering secure, scalable solutions that foster community-driven interactions.
About Metasphere Labs Inc.
Metasphere Labs Inc. is a leading developer of Web3 and metaverse strategies. The company specializes in integrating blockchain technology into real-world applications, with a focus on environmental sustainability and social impact. Metasphere is passionate about applying decentralized solutions to some of the most pressing challenges of our time.
For more information, please contact:
Metasphere Labs Inc.
Natasha Ingram, CEO
Email: info@metasphere.earth
Phone: 604-687-2038
Forward-Looking Information
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 development of the carbon credit protocol initiative, other open metaverse and blockchain projects, and the development of virtual world projects.
The material assumptions supporting these forward-looking statements include, among others, that: the Company could mitigate the risks associated with the blockchain and NFT industry; the ability to compete with other businesses in the NFT, metaverse and blockchain markets; the availability of sufficient funding to carry out the Company's business development plans; favourable market conditions; and the market acceptance for its products.
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 continued growth and adoption of NFT, metaverse and blockchain offerings; the cost of developing and designing NFTs and metaverses is economically viable; the Company being able to attract and retain a sufficient workforce with desired skillsets to develop the Company's digital offerings; the availability of offerings provided by third-parties in the NFT, metaverse development and online gaming market to identify potential transactions; the increasing adoption of NFTs as a solution for various online gaming, entertainment and collectible uses; the Company having the ability to mitigate the risks associated with the blockchain and NFT industry; and the ability to compete with other businesses in the NFT, metaverse development, content creation and collectibles market.
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's offerings are not accepted by the consumer, the risk that other competitors may offer similar digital offerings; 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 development of any of its technologies; 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; the risk that the NFT technology may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain that make the NFT 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 offerings; the potential future unviability of the NFT market in general; the volatile cost of the amount of computational effort required to execute specific operations on the blockchain, and other general risks involved in the blockchain solutions.
Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials, including its reports filed with the Canadian securities regulators and which can be obtained from www.sedarplus.ca.
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.
SOURCE: METASPHERE LABS INC.
FAQ
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