Life Clips Subsidiary Belfrics Group Launches NFT platform – BELNFT

Rhea-AI Summary

Life Clips, Inc. (OTC Pink: LCLP) announced the launch of its Belfrics Group subsidiary's NFT exchange platform, BelNFT. This initiative diversifies their services and aims to capitalize on the burgeoning NFT market, projected to grow by $147.24 billion by 2026, at a CAGR of 35%. BelNFT will provide a secure marketplace for tokenizing various digital assets, ensuring authenticity through a unique validation process. Belfrics plans to expand operations to 10 countries within six months, positioning itself strongly in the blockchain and cryptocurrency sectors.

Positive

• Launch of BelNFT, a new NFT exchange platform.
• Projected NFT market growth of $147.24 billion by 2026.
• Unique validation process for NFT authenticity.
• Plans to expand operations into 10 countries within 6 months.

Negative

• None.

• Targets NFTs from artists and content creators across collectibles, gaming, memes, merchandise, etc.
  
• Belfrics will create a thorough validation process to eliminate scamsters and counterfeit NFTs
• Plans to expand its operations across 10 countries within 6 months
  

AVENTURA, Fla. and MUMBAI, India, April 21, 2022 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) today announced its Belfrics Group subsidiary, one of India’s early adopters of blockchain and cryptocurrency, has launched a Non-fungible Token (NFT) exchange platform – BelNFT. This launch is part of a larger business strategy of Belfrics Group, which recently announced an expansion of its blockchain and crypto operations in India. The BelNFT platform will help users tokenize their real-world assets and provide a market to buy, sell, or trade the NFTs in a safe and secured manner.

Praveen Kumar, Founder and CEO of Belfrics Group, said, “The launch of BelNFT enables us to diversify our services and offer a larger pool of investment options for our customers. The NFT universe has exploded in the last year and is poised to grow by $147.24 billion by 2026, which is a compound annual growth rate of 35%. Having said that, our initial focus would be to ensure a seamless verification process of the NFTs listed on our platform. Hence, we have created a unique process to validate every NFT trade on BelNFT so our customers could buy authentic assets at the right price.”

BelNFT will tokenize NFTs like collectibles, artworks, music, gaming, virtual assets, memes, domain names, merchandise, and other investable assets. Praveen Kumar added, “Our focus here is to create repositories with authentic metadata as the world is moving Web 2.0 to Web 3.0. With BelNFT, we are developing a platform which will not only promote the digital assets of artists and creators, but would also aim at developing tangible asset backed NFTs as well. Our identity specific Belrium blockchain will play a crucial role in addressing some of the complex regulatory requirements these new-age assets might face in the near future.”

Satish Shekar, Director of Operations for BelfricsBT, said, “A large section of the Indian population is unaware of NFTs, crypto currencies and the metaverse. This is quite similar to the lack of understanding that people had for online shopping in the late nineties. To break this deadlock, BelNFTs would be in the form of digital assets created on blockchain with unique encryption codes that can be validated for authenticity and ownership. The BelNFT exchange platform will have cultural heritage forms of artworks which will be converted into NFTs for buyers and collectors to have the ownership of it.”

Life Clips CEO, Robert Grinberg, said, "Moving forward, the BelNFT exchange platform will be another source of revenue for Life Clips. Belfrics entry into the NFT market comes on the heels of our announcement that Life Clips eliminated all of its nearly $4 million in outstanding convertible debt by paying the outstanding amounts in Belrium. NFTs are an exciting new asset class that are immutable and exchangeable, and investors around the world are eager to stake their claims in this new ecosystem. The market is driven by increasing demand for digital artworks, growing investment in digital assets, and security and ownership of digital assets. The BelNFT exchange platform will play a big role in the future of financial investing for many people."

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 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 individuals and companies to raise awareness of employees’ mental health. Cognitive Apps is 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. Aiki 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.

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FAQ

What is the BelNFT platform launched by Life Clips?

BelNFT is an NFT exchange platform by Life Clips, enabling users to tokenize, buy, sell, or trade NFTs securely.

What is the expected growth of the NFT market according to Life Clips?

The NFT market is projected to grow by $147.24 billion by 2026 at a CAGR of 35%.

How does BelNFT ensure NFT authenticity?

BelNFT implements a unique validation process to verify the authenticity of NFTs traded on its platform.

What is Life Clips' expansion plan for the BelNFT platform?

Life Clips plans to expand its BelNFT operations across 10 countries within 6 months.

What types of assets can be tokenized on BelNFT?

BelNFT will allow tokenization of collectibles, artworks, music, gaming assets, memes, and more.