Novation Holdings, Inc. Acquires CraftClouds - NFT Creation Platform and Marketplace

Rhea-AI Summary

Novation Holdings, Inc. (NOHO) has announced a Share Exchange Agreement to acquire CraftClouds, LLC, a next-gen NFT platform, offering a decentralized application for creators and enterprises. The NFT market reached over $23 billion in trading volume in 2021, with projections of $35 billion in 2022 and $80 billion by 2025. With CraftClouds, Novation aims to enhance its marketplace for artists, alongside terminating a previous acquisition deal. This strategic move is intended to leverage the growing NFT sector and enhance shareholder value.

Positive

• Acquisition of CraftClouds enhances Novation's capabilities in the rapidly growing NFT market.
• The NFT market generated over $23 billion in volume in 2021, indicating strong growth potential.
• CraftClouds offers unique services that may attract more creators and consumers.

Negative

• None.

RANCHO MIRAGE, Calif., Feb. 1, 2022 /PRNewswire/ -- Novation Holdings, Inc. (OTCPINK: NOHO) ("Novation" or the "Company"), a multi strategy holding company focused on identifying, developing, acquiring and bringing to market technologies and solutions to the marketplace is pleased to announce that it has entered into a Share Exchange Agreement to acquire 100% of all the outstanding membership interests in CraftClouds, LLC ("CraftClouds") in exchange for shares of the Company's common stock.

CraftClouds is a next-gen NFT (non-fungible token) platform and ecosystem designed to expand on the current offerings of marketplace-based portals and deliver a platform solution for both creators and consumers as well as large scale enterprises and brands. The CraftClouds Decentralized Application (DAPP) is feature rich and includes benefits like on-chain royalty, rather than an off-chain (database-controlled royalty system). This type of innovation allows for broader usage and monetization of these new forms of digital assets.

According to blockchain analytics company, DappRadar and their recently published 2021 Dapp Industry Report, the NFT market generated over $23 billion in trading volume in 2021, an astronomical increase from the less than $100 million recorded in 2020. DappRadar further estimates that the number of unique active wallets engaging with NFTs on a daily basis went up from 5,000 in the beginning of 2021 to around 140,000 at year's end. 

As for what is in store for 2022, global investment banking giant Jefferies Group, LLC recently raised its 2022 NFT market-cap forecast to more than $35 billion and to over $80 billion for 2025 as Jefferies views digital assets as an emerging technology recommending that clients build a basket of investment exposure across video game, toy and game, and social media companies.

Michael Gelmon, President and CEO of Novation Holdings, Inc. stated "Based on the astounding statistics and recent activity within the NFT marketplace, there is no doubt that NFT's are not only here to stay but are only going to increase in popularity and in overall transactional volume. With this increase in demand, the market is ripe for a marketplace such as CraftClouds in which artists can create, mint, market and sell their NFT's to captivated audiences. I am very impressed with CraftClouds' talented group of programmers and developers and it is our strategy and intent to plug in a major marketing and sales component to round out the team."

With OpenSea recently being valued at $13.3 billion, the Company believes CraftClouds has amazing potential to gain market share with its unique service offerings that make its platform easier to use, provides more flexible payment options, and provides artists with additional ways to earn residual royalties.

"Our goal is to add true value to our creators and users where it matters, whether it is operating a successful digital retail store, tokenizing a traditional asset or creating new and useful properties for use in the Metaverse" comments Alejandro Perez, Founder and CEO of CraftClouds. "We have a very clear-cut strategy for attracting and retaining the right artists and brands for the CraftClouds marketplace, in which we will begin to execute immediately ahead of our official launch before the end of the first quarter, 2022", further comments Mr. Perez. 

Novation further announces that all parties have mutually agreed to terminate the letter of intent as executed in November, 2021 for the Company to acquire Legends of Hemp and TerraVida CBD paving the way for the Company to further dedicate its focus on acquiring and developing technology related companies and solutions.

About the Company
Novation Holdings, Inc. is multi-strategy holding company focused on identifying, developing, acquiring, and bringing to market technologies and solutions across all market sectors. Currently, the Company is searching/researching for new investment opportunities, with a principal business objective of either investing into and starting up new business opportunities or acquiring all or part of an existing business that will strengthen the Company's balance sheet and increase shareholder value. The Company is not limited to any particular industry or geographic region for purposes of making an investment or an acquisition. For more information, visit the Company's website at www.NovationHoldings.com.

About CraftClouds
CraftClouds is a next-gen NFT (non-fungible token) platform and ecosystem designed to expand on the current offerings of marketplace-based portals and deliver a platform solution for both creators and consumers as well as large scale enterprises and brands. More information about CraftClouds can be found at www.CraftClouds.com. 

Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets, and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company assumes no duty to update its forward-looking statements.

CONTACT:
Novation Holdings, Inc. 
info@novationholdings.com 
+1 403-988-2005
Twitter: @NovationNOHO 

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SOURCE Novation Holdings, Inc.

FAQ

What is the significance of Novation Holdings acquiring CraftClouds?

The acquisition allows Novation Holdings to tap into the booming NFT market, which saw over $23 billion in trading volume in 2021, positioning the company for potential growth.

What are the future projections for the NFT market concerning Novation Holdings?

According to projections, the NFT market is expected to reach $35 billion in 2022 and $80 billion by 2025, indicating vast opportunities for Novation through its acquisition of CraftClouds.

How does CraftClouds plan to operate in the NFT marketplace?

CraftClouds aims to provide a platform for creators to create, mint, and market their NFTs, with strategies for attracting and retaining artists and brands.

Did Novation Holdings terminate any previous acquisition deals?

Yes, Novation has mutually agreed to terminate the letter of intent for acquiring Legends of Hemp and TerraVida CBD to focus on technology-related acquisitions.