Signature Devices Receives 1 Million Genius Tokens in CryptoCurrency to Facilitate Internet-Of-Things (IoT) Embedded A.I. Processing in Video Games

Rhea-AI Summary

Signature Devices, Inc. (OTCPK:SDVI) has received 1 million Genius Tokens valued at approximately $3.5 million from Genius Ventures, Inc., supporting their joint venture in cryptocurrency. The tokens, equivalent to 1/1000th of Ethereum, will be utilized in video games developed by Graffiti Entertainment, a subsidiary of Signature Devices. This cryptocurrency, a utility token, will allow users to earn tokens through AI processing during idle gaming times. Graffiti will distribute 70% of the earnings to device owners while retaining 20%, with Genius Ventures receiving a 10% licensing fee.

Positive

• Acquisition of 1 million Genius Tokens valued at $3.5 million, enhancing company assets.
• Integration of cryptocurrency in gaming could increase user engagement and revenue opportunities.
• Revenue sharing model allows device owners to earn 70% of AI processing payments, promoting wider adoption.
• Potential for free-to-play games, attracting a larger audience.

Negative

• None.

LANDER, WY / ACCESSWIRE / October 18, 2021 / Signature Devices, Inc. (OTCPK:SDVI) - today announced the receipt of 1 Million Genius Tokens valued at approx $3.50 per token (1 GNUS token = 1/1000th Ethereum) from Genius Ventures, Inc., in support of their joint venture. Genius is launching a CryptoCurrency that, through embedded AI Processing, will be used in video games published by Graffiti Entertainment, Inc., (a subsidiary of Signature Devices). These types of CryptoCurrencies are sometimes called Utility Tokens, as the currency will be used for the processing of Artificial Intelligence. Graffiti Entertainment, Inc., a software developer & publisher, is integrating the CryptoCurrency into video games for smartphone, desktop/laptop, console or tablet via the internet-of-things (IoT) to enable players to generate Genius Tokens.

Each connected game will use the devices idle time to execute artificial intelligence processing and receive CryptoCurrency in an internal wallet that can be used to purchase game currency, media such as Movies & Music and even redeem the CryptoCurrency for other currencies. The agreement terms are as follows: Signature Devices, Inc. through its subsidiary Graffiti Entertainment received tokens from the initial allocation of CryptoCurrency as an asset to the company. Roger Arias, CEO of Graffiti Entertainment commented that "The approximately $3.5 million dollar cryptocurrency asset will allow Graffiti Entertainment to earn that crypto by enabling the blockchain system in games whereby the games will have the flexibility to be completely free to play in addition to providing support for Non-Fungible Tokens (NFT). "The CryptoCurrency is based off of the Ethereum Blockchain and is utilizing smart contracts for the payment system and a fast off-chain system for A.I. Processing. There are varied devices that will be able to earn the CryptoCurrency by utilizing the idle time of GPUs for the A.I. processing. Graffiti games intends to let each device/device owner receive 70% of the payments for that processing, Graffiti will receive 20% and Genius Ventures, Inc will receive 10% as a license fee.

Based in Sheridan, Wyoming, Signature Devices, Inc. (www.signaturedevices.com) (OTC PINK:SDVI) is a holding company with a subsidiary that develops, and publishes diverse media products including video games and mobile applications through Graffiti Entertainment, Inc.

CONTACT:
Investors Relations
ir@signaturedevices.com
650-654-4800 ext 111
http://www.signaturedevices.com

SOURCE: Signature Devices, Inc.

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FAQ

What are Genius Tokens and their value in relation to Signature Devices?

Genius Tokens are valued at approximately $3.50 each, totaling $3.5 million for Signature Devices from Genius Ventures.

How will Genius Tokens be used in video games by Signature Devices?

Genius Tokens will facilitate AI processing within Graffiti Entertainment's video games, allowing players to earn tokens.

What percentage of the earnings will device owners receive from AI processing?

Device owners will receive 70% of the payments from AI processing, while Graffiti Entertainment will take 20% and Genius Ventures 10%.

When was the announcement regarding the Genius Tokens made?

The announcement was made on October 18, 2021.

Which blockchain is the Genius cryptocurrency based on?

The Genius cryptocurrency is based on the Ethereum Blockchain.