Life Clips Subsidiary BelfricsBT And KPR Info Solution Sign MoU With Chennai City Football Club To Launch Groundbreaking Hybrid Blockchain Solution For NFTs And Club Tokens

Rhea-AI Summary

Life Clips, Inc. (LCLP) announced a strategic partnership with BelfricsBT and Chennai City Football Club to create a hybrid blockchain solution leveraging NFTs in India’s $796 million sports industry. The Memorandum of Understanding (MoU) aims to empower sports clubs to manage digital assets and revenue streams through NFTs, enhancing operations and player valuation. The collaboration signifies the increasing adoption of blockchain technology in the sports sector, with BelfricsBT projecting significant revenue opportunities for sports clubs. The global sports ecosystem for blockchain is valued at $22 billion.

Positive

• Strategic partnership with BelfricsBT and Chennai City Football Club aims to launch a unique NFT solution.
• Potential to open multiple revenue streams for sports clubs through NFT management.
• Growing sports industry in India with a market value of $796 million indicates strong demand for innovative solutions.

Negative

• None.

NFT on the Blockchain to disrupt India’s $796 million sports industry, as well as the global sports ecosystem

AVENTURA, Fla. and CHENNAI, India, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”), announced today that BelfricsBT, one of the fastest growing blockchain platforms of India, has signed an MoU with Chennai City Football Club and KPR Info Solution to develop a first-of-its-kind hybrid blockchain solution for athletes and club management. BelfricsBT will work closely with Chennai City Football Club pairing its knowledge of the technology with the Club’s vision to shape a unique NFT product. Chennai City Football Club will be the first adopter of the solution.

The solution will allow Clubs to control the creation of NFTs based upon their branding and players and own the revenue stream they generate.

BelfricsBT plans to work closely with KPR Info Solution, the technology development entity of KPR Group, as a non-exclusive technology partner for the development of this innovative blockchain solution. This hybrid blockchain based solution for sports utilizes NFTs and Club tokens to bring all the stake holders of the game on to a single decentralized platform.

Speaking on this unique initiative, Praveen Kumar, Founder & CEO Belfrics Group, said, “The disruption in the sports industry with the help of blockchain solutions is opening up multiple revenue streams for Sports Clubs across the world. This solution will allow sports and club management to create and control digital assets, improving the player effectiveness and club's operations and revenue. Sports clubs have seen a tremendous rise in India over the past 5 years with billion-dollar leagues in Football, Cricket, and Kabaddi. The global sports ecosystem open for blockchain adoption is valued at $22 Billion as of 2021 of which India has a market share that is worth $796 Million. We are looking at disrupting this sector with the help of our innovative blockchain solution.” Mr. Kumar continued, “This would be our first blockchain project with our partners KPR Solutions. Going forward, we intend to work with them and develop multiple such projects across all sports categories.”

Gowrish Subramanian, CEO of KPR Info Solution said, “KPR Info Solution is happy to partner with BelfricsBT in developing blockchain projects, especially in the sports industry, which has numerous opportunities. We aim to be an integral technology compeer in the future for BelfricsBT.”

Rohit Ramesh, CEO and Owner of the Chennai City Football Club said, “We are delighted to be associated with Belfrics and KPR for this unique opportunity. As a club, the influence of NFTs and fan tokens provides us a wider spectrum to look beyond and to create a better valuation for our players in various categories, as well as the Chennai City Football Club.”

Robert Grinberg, CEO and President of Life Clips, Inc. said, "Over the next several years, the emerging digital ecosystem that is the metaverse is going to become more and more commonplace in daily life. According to a recent article in Forbes, if Ether, Bitcoin and other cryptos are the money of the metaverse, then NFTs represent the stuff that fills up the metaverse. The trading volume of NFTs is estimated to surpass $24 billion, up from only $0.1 billion last year." Mr. Grinberg continued, "This Hybrid blockchain solution of NFTs and Club tokens by BelfricsBT and KPR Info Solution is truly a landmark transaction. As of today, I am officially a big fan of the Chennai City Football Club."

About Us
Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority. Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which and includes the Yuru voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one’s mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by employers to raise awareness of employees’ mental health. Cognitive Apps’ Yuru is a 3-in-1 tool developed by a team of licensed psychotherapists that makes use of vocal biomarkers to screen for early signs of mental health conditions, such as stress and depression. Yuru is available on Apple‘s App Store.

For more information on Life Clips visit www.lifeclips.com
For more information on Belfrics Global visit www.belfricsgroup.com
For more information on Cognitive Apps Software Solutions visit https://cogapps.com

Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the government and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law.

For Media and Investor Relations, please contact:

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dk@atlcp.com
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FAQ

What is the partnership between Life Clips (LCLP) and Chennai City Football Club?

Life Clips has partnered with Chennai City Football Club and BelfricsBT to develop a hybrid blockchain solution utilizing NFTs to enhance club management and revenue.

What market does Life Clips (LCLP) aim to disrupt with the NFT solution?

Life Clips aims to disrupt the $796 million sports industry in India with its NFT blockchain solution.

What is the potential value of the global sports ecosystem for blockchain technology?

The global sports ecosystem for blockchain technology is valued at approximately $22 billion, highlighting significant growth opportunities.

How will the NFT solution benefit sports clubs according to Life Clips (LCLP)?

The NFT solution will allow sports clubs to create, control, and own revenue from digital assets, improving operational efficiency and player valuation.

What role does BelfricsBT play in Life Clips (LCLP)'s blockchain initiative?

BelfricsBT is a technology partner in this initiative, leveraging its blockchain expertise to develop innovative NFT products for sports clubs.