Oasis Digital Studios Exercises Option to Acquire 50% Ownership of Aftermath Islands Metaverse

Rhea-AI Summary

Oasis Digital Studios has acquired a 50% equity interest in Aftermath Islands, a metaverse client, for nominal consideration of 1 Euro. This acquisition, effective January 2022, will allow Oasis to control day-to-day operations and marketing. As part of the agreement, Oasis will receive 50 virtual islands and retain up to 30% of net margins from virtual land sales. The Aftermath Islands platform has generated substantial interest, with sales exceeding $3.1 million for over 7,500 parcels. The partnership aims to enhance user experiences in a growing digital economy.

Positive

• Acquisition of 50% stake in Aftermath Islands enhances control and operational capabilities.
• Potential revenue from sales of virtual land projected at $3.1 million.
• Oasis retains 30% of net margins from virtual land and item sales.

Negative

• None.

Oasis will have the principal day to day control of all Aftermath Islands activities

BRIDGETOWN, BARBADOS, MALAGA, SPAIN, and TORONTO, ON / ACCESSWIRE / December 1, 2021 - Oasis Digital Studios Limited ("Oasis"), a wholly owned subsidiary of Liquid Avatar Technologies Inc. (CSE:LQID) (OTCQB:LQAVF) (FRA:4T51), a global blockchain, digital identity and fintech solutions company, is pleased to announce that it has exercised its right to acquire a 50% equity interest in its metaverse client, Aftermath Islands. The current owners have agreed to transfer all relevant assets to a newly registered enterprise in Barbados, with operations in the new entity expected to begin no later than January, 2022. Oasis and Aftermath Islands have previously agreed that Oasis will control all marketing and day to day operations and that arrangement will continue with the new entity. Under the terms of the arm's length agreement signed on September 20, 2021 and amended to include the equity acquisition option on October 7, 2021, Oasis, based on performance to date, is paying nominal consideration, of 1 Euro, without any finders fees, for its ownership in Aftermath Islands.

As part of its agreement, Oasis will be granted up to 50 each of small, medium, and large virtual islands and will maintain an operational position in all islands issued by Aftermath Islands, maintaining an interest of up to 10% of all virtual island plots. Oasis will continue to retain up to 30% of the Net Margin (Revenues less Direct Costs) including sales of primary Virtual Land and items, a portion of land and item resales, and property management fees. The Liquid Avatar Mobile App is also slated to play a role to support digital credentials required to manage Aftermath Islands metaverse accounts and asset verification.

Aftermath Islands, together with Oasis will be part of Liquid Avatar Technologies' digital innovation sponsorship of Los Angeles Comic-Con starting later this week, from December 3^rd until December 5^th with in-person attendance expected to be near the last pre-pandemic event which hosted 123,000 people. Liquid Avatar Technologies will be showcasing its technologies, programs, and partnerships with 1,500 square feet at Booth 1241.

Sales of Aftermath Islands' Virtual Land plots and parcels continue to grow as several Phase 1 islands have already sold out and Phase 2 has begun rolling out. The Aftermath Islands platform is using Masscult's Waxify, the Shopify app that will enable Aftermath Islands storefront to easily bundle and offer Digital Collectibles on the Wax blockchain. As part of its development and release strategy, a limited number of single plots of Virtual Land representing 1000m² are available at introductory prices now starting at $45 USD, and larger limited parcels of Virtual Land starting with 4 plots and as large as 100 plots are also available. Virtual Land that is purchased will be automatically dropped into connected wallets.

Phase 1 and Phase 2 Virtual Land releases, according to Aftermath Islands, consist of over 7,500 parcels for themed, community and estate islands, with a total aggregated available for sale listing prices of approximately US$3,100,000.

Limited brand and private island partnerships, like those recently announced with Vegas Island and Cannabis Cove, will allow consumer brands, entertainment, sports, Defi, fintech and other commercial organizations to build and manage their own experiences inside the Aftermath Islands metaverse.

Aftermath Islands is a planned metaverse, which will provide online users with theme-based first-person, Augmented Reality (AR) and Virtual Reality (VR) experiences, quests, games, and integrated eCommerce activities, creating a virtual world supported by users and brands. Additional assets such as thematic dwellings designed for each island, community and estate are under development along with other interactive items which will also ultimately be available for sale as NFTs. All NFTs can be resold, at the discretion of the holder, using 3^rd party, non-affiliated marketplaces, and private sale programs.

All Aftermath Islands' players will also have access to create a Liquid Avatar account allowing them to manage their digital identity and certain ‘cross-over' assets and activities connecting their in-game activities to their real-world activities and engagement. Potential opportunities include managing avatars including Meta Hero Project^TM customizable and personalized avatars, items, integrated Augmented Reality (AR) events and programs, and purchasing conventional items like sneakers or trainers through KABN KASH and receiving exclusive bonuses, like matching digital assets for use in Aftermath Islands.

Aftermath Islands advises that in the coming months, updated white papers and technical reviews will be available, the initial governing council will be formed, and additional themes, new communities, and estates will open allowing players to own Virtual Land across a wide range of islands. For entertainment, financial, game, product, and other brands, select island environments will allow commercial operations and ownership, providing enterprises with the tools to create and support economic opportunities.

For information on Aftermath Islands and to receive updates from Oasis Digital Studios, please click here .

If you would like to join our mailing list and receive updates from Liquid Avatar Technologies, please click here .

About Aftermath Islands - www.aftermathislands.com

Aftermath Islands as first described in the initial whitepaper published in 2017 and then subsequently updated, was based on the premise of a water-world with islands that represented destinations in a global virtual game. Since then, the Aftermath Islands metaverse has evolved and now represents exciting themed based islands, communities, and estates where players can experience a wide range of adventures and opportunities.

In Aftermath Islands' virtual world, users can buy, develop, trade, and sell Virtual Land (VL), property and assets, like buildings, crafted items, transport, and other items all through NFTs, a non-fungible token that represents the ownership of virtual and other assets. Each plot or parcel of VL is unique and owners get to choose what content they want to publish on their VL. This can range from simple scenery and structures to an interactive game, store, warehouse, dwelling, facility, or destination. Users can purchase VL as well as all other goods and services in Aftermath Islands with CREDITS, the current code name for in-game currency, fiat and other authorized currencies, coins, and tokens.

Aftermath Islands is a shared virtual world, much like the Metaverse described by author Ernest Cline in his science-fiction novels Ready Player One and Ready Player Two. Expected to launch mid-2022, Aftermath Islands' platform will allow users to connect and interact with each other, create content, craft, participate in activities and quests and play games. Aftermath Islands will have a virtual economy where users can engage in a myriad of in-world economic transactions as well as monetize the content, items, quests, and applications they build.

For more information about Aftermath Islands, please visit www.aftermathislands.com

About Oasis Digital Studios Limited - www.oasisdigitalstudios.com

Oasis Digital Studios Limited ("Oasis") brings together leading individuals and organizations in blockchain technology, computer graphics, augmented reality, entertainment, art, sports, gaming, music, media, comic book, memorabilia, and pop culture arenas to support the fast-paced and growing digital collectible and NFT marketplace. The Oasis business model is to create storytelling, experiential and collectible partnerships with artists, sports personalities, talent, brands, and commercial enterprises to create digital offerings and digital / physical product programs via digital collectibles and NFTs. Oasis uses multimedia, cinematics, animations, and other techniques to create unique products together with the latest Augmented Reality and virtual technologies to tell the Artist and Talent stories providing immersive experiences for Digital Collectibles and NFTs. The Oasis AR Enhanced NFT experience, powered by ImagineAR, will be available exclusively through the Liquid Avatar Mobile App, which features the ability for users to create digital icons that allow them to manage, control and create value from their biometrically verified digital identity, and is available on Google Play and in the Apple App Store.

About Liquid Avatar Technologies Inc. - www.liquidavatartechnologies.com

Liquid Avatar Technologies Inc. focuses on the verification, management and monetization of Self Sovereign Identity, empowering users to control and benefit from the use of their online identity.

The Liquid Avatar Mobile App, available in the Apple App Store and Google Play is a verified Self Sovereign Identity platform that empowers users to create high quality digital icons representing their online personas. These icons allow users to manage and control their digital identity and Verifiable Access and Identity Credentials, and to use Liquid Avatars to share public and permission based private data when they want and with whom they want.

The Liquid Avatar Verifiable Credentials Ecosystem (LAVCE) has been developed to support all participants in a digital credential ecosystem, including the Holder, Issuer and Verifier, using state-of-the-art blockchain and open standards technologies initially as a node on the Indicio Network. The Company is a voting and steering committee member of the Trust over IP Foundation, founding and steering committee member of Cardea, a Linux Foundation Public Health project, member of the Good Health Pass collaborative, DIACC, the Covid Credentials Initiative ("CCI"), The Linux Foundation and a founding member of the Lumedic Exchange.

The Company has a suite of early-stage revenue generating programs that support the Liquid Avatar Mobile App program, including KABN KASH, a cash back and reward program that has over 500 leading online merchants. In Canada, the Company also has the KABN Visa Card, a "challenger financial" platform that allows users to manage and control a range of financial services for traditional and digital currencies. The Company is currently exploring expansion of the KABN Visa Card program to other geographic regions, including the USA.

The Company's subsidiary, Oasis Digital Studios, is a creative and development agency that supports a wide range of artists, talent, and enterprises with Non-Fungible Token (NFT) solutions.

Liquid Avatar Technologies Inc. is publicly listed on the Canadian Securities Exchange (CSE) under the symbol "LQID" (CSE:LQID).

The Company also trades in the United States, on the OTCQB under the symbol "LQAVF" and in Frankfurt under the symbol "4T51".

If you have not already joined our mailing list and would like to receive updates on Liquid Avatar Technologies Inc., please click here to join!

For more information, please visit www.liquidavatartechnologies.com

For further information, please contact: 

David Lucatch
Chief Executive Officer
647-725-7742 Ext. 701
ir@liquidavatar.com

US and Canadian Media Contact:

Nicole Rodrigues
NRPR Group
nicole@nrprgroup.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

All websites referred to are expressly not incorporated by reference into this press release.

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".

The forward-looking information and forward-looking statements contained herein include, but is not limited to, statements regarding the ownership structure of Aftermath Islands, the future features of Aftermath Islands, the value of available Virtual Land, the future launch of sales of Non-Fungible Tokens and other related products through Aftermath Islands, Oasis Digital Studios and / or its clients, partners and other service providers, statements regarding, the plans for future features of the Liquid Avatar Mobile App, including as it relates to Aftermath Islands, expected geographic expansion, the ability of the Company to generate revenues, roll out new programs and to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.

By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such information and statements.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

SOURCE: Liquid Avatar Technologies Inc.

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FAQ

What is the significance of Oasis acquiring a 50% stake in Aftermath Islands?

This acquisition allows Oasis to gain control over Aftermath Islands' operations and marketing, unlocking new revenue opportunities.

What financial considerations were involved in the acquisition of Aftermath Islands by Oasis?

Oasis acquired the 50% equity interest for a nominal fee of 1 Euro, indicating a strategic move rather than a significant financial investment.

How will the acquisition impact Liquid Avatar Technologies Inc. (LQAVF)?

The acquisition is expected to enhance Liquid Avatar's digital presence and revenue generation through Aftermath Islands, contributing positively to LQAVF.

What are the expected revenue streams from Aftermath Islands?

Projected revenues will come from virtual land sales and management fees, with significant activity already noted in the market.

When will operations for Aftermath Islands commence?

Operations for the new entity are expected to start no later than January 2022.