Santo Blockchain Labs Signs NFT Software Development Agreement for Fractalization of Land with Gold Mining Rights

Rhea-AI Summary

Santo Mining Corp. (OTC PINK:SANP) has entered an NFT software development agreement with Vegachi Holdings SAS to create NFTs linked to gold mining land rights. Santo will earn a 3% transaction fee on NFT sales and a 1.5% royalty on future transactions. This contract aims to showcase Santo's NFT development experience and ensure recurring revenue through innovative blockchain solutions. Vegachi Holdings owns 345.94 acres in Colombia, with a geological test indicating 18 grams of gold per metric tonne. Colombia produced 26.8 tonnes of gold in 2020, highlighting the region's potential.

Positive

• Santo Mining Corp. will receive a 3% transaction fee and a 1.5% royalty from future NFT sales.
• The NFT project aims to enhance recurring revenue streams for the company.
• Potential for leveraging gold mining rights signals growth opportunities in the blockchain sector.

Negative

• None.

AVENTURA, Fla. and MEDELLIN, Colombia, March 6, 2023 /PRNewswire/ -- Santo Mining Corp., d.b.a. Santo Blockchain Labs (OTC PINK:SANP) today announces it has entered into an NFT software development agreement with Vegachi Holdings SAS; this agreement is to develop a series of NFTs linked to the fractalization of land with gold mining rights.  Under this agreement Santo will receive 3% transaction fee for the sale of each NFT, including a 1.5% royalty fee for every future transaction of the minted NFTs.

Mr. Yglesias CEO of Santo stated: "This is a great opportunity to showcase our vast NFT development experience, be able to incorporate all the legal documentations and titles of the land inside an NFT that will constantly morph as the historical and future value of the land and dead holders change.  Additionally, the transaction fee structure will insure reoccurring revenue for the Company."

Mr. Hassan Mustafa lead Attorney at Law at Mustafa & Associates and Legal Representative of Vegachi Holdings SAS in Medellin Colombia stated: "We are delighted to work in this project and be able to bridge LawTech & FinTech with digital assets, and ensure that the traditional legal world can be linked and embedded with the blockchain and digital asset technology."

ABOUT VEGACHI HOLDINGS:
Vegachi Holdings SAS has 345.94 acres of land located in Vegachí, Antioquia Colombia, with gold mining rights issued by the Government of Antioquia.  The Company has done a lidar drone scan and a top soil geological test and has shown 18grams of gold per metric tonnes, according to the World Gold Council, Colombia produced 26.8 tonnes of gold in 2020.

ABOUT SANTO:
The Company is a vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end "BaaS" Blockchain-as-a-Service, similar to software-as-a-service, blockchain as a service lets businesses get applications up and running with minimal hassle.

For more information, please visit: https://santoblockchain.com/

FORWARD-LOOKING STATEMENTS:
Because we want to provide more meaningful and useful information, this Disclosure Statement contains certain "forward-looking statements" (as such term is defined in Section 21E of the Securities Exchange Act of 1934, as amended). These statements reflect our current expectations regarding our possible future results of operations, performance, and achievements. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, regulation of the Securities and Exchange Commission, and common law.

Such statements use such words as " may"," would"," will"," intend"," expect"," believe"," plan"," anticipate"," and other similar terminology Specifically, and without limiting the generality of the foregoing, this report contains forward looking statements relating to (i) expectations regarding the future trading and value of bitcoin (ii) the anticipated performance of the Company, including anticipated future revenue and profit and number of machines (iii) the anticipated timing and ability of the Company to further expand internationally (iv) the ability of the Company to complete future acquisitions (v) anticipated future expenses of the Company (vi) the Company's business plans and objectives, including the expansion of its ATMs, its relationships with additional hosts and retailers and the integration and success of new software and web based services (vii) the anticipated timing for the mining and introduction of additional bitcoin (viii) the anticipated success and integration of the Company's SANTO PAY software (ix) expectations regarding the increased use of bitcoin as payment and (x) the Company's goals with respect to its anticipated future revenue sources (including web based revenue) and the timing thereof By their very nature, forward looking statements involve inherent risks and uncertainties, both general and specific, which give rise to the possibility that predictions, forecasts, projections and other forward looking statements will not be achieved Forward looking statements are based on management's opinions, estimates and assumptions in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management currently believes are appropriate and reasonable in the circumstances, including expectations and assumptions concerning prevailing currency prices and differentials exchange rates the sufficiency of budgeted capital expenditures in carrying out planned activities the timing of future acquisitions the state of the economy and the bitcoin industry results of operations performance business prospects and opportunities the impact of competition the ability to efficiently integrate assets and employees acquired through acquisitions and capital markets generally There can be no assurance that the underlying opinions, estimates and assumptions, and consequently the forward looking statements and actual results, will prove to be correct.

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SOURCE Santo Mining Corporation aka: Santo Blockchain Labs

FAQ

What is the NFT software development agreement between Santo Mining Corp. and Vegachi Holdings?

Santo Mining Corp. has signed an agreement with Vegachi Holdings to develop NFTs associated with land and gold mining rights, with earnings from transaction fees.

What are the financial benefits for Santo Mining Corp. from the new NFT agreement?

Santo Mining Corp. will earn a 3% transaction fee on NFT sales and a 1.5% royalty on future transactions, providing potential recurring revenue.

What gold mining rights does Vegachi Holdings have?

Vegachi Holdings owns 345.94 acres in Colombia, where geological tests show 18 grams of gold per metric tonne.

How does this agreement affect the stock symbol SANP?

The agreement may enhance revenue prospects for Santo Mining Corp. (SANP), potentially impacting investor confidence positively.