SFLMaven CEO Joe Ladin Joins MoneyTV to Discuss its Recently Announced “Metaverse Bling-Flex” Strategy and Associated Patent Filing

Rhea-AI Summary

SFLMaven Corp. (SFLM) announces positive growth in its core jewelry business, reporting nearly $6.2 million in total gross sales for 2022, a 17% year-over-year increase. The company sold over 7,400 items, with an average sales price of $833. In addition, SFLMaven is set to launch a digital vintage jewelry NFT line in the metaverse, which they believe will extend luxury consumption into digital realms. The CEO, Joseph Ladin, highlights the firm's competitive advantage with new technology aimed at valuing digital wearables. Inventory buildup for the upcoming holiday season is underway, with no supply chain constraints.

Positive

• Core jewelry gross sales reach nearly $6.2 million in 2022, up 17% year-over-year.
• Total items sold exceed 7,400, marking a 15% increase.
• Average sales price per jewelry item rises to $833 from $815 in 2021.
• Upcoming launch of digital vintage NFT jewelry line expected to enhance market position.
• No supply chain constraints noted, allowing for inventory ramp-up ahead of the holiday season.

Negative

• None.

Ladin also updates Core Unaudited Sales Growth and discusses the imminent upcoming launch of the SFLMaven Proprietary Digital Vintage Jewelry NFT Line

FORT LAUDERDALE, FL, July 29, 2022 (GLOBE NEWSWIRE) -- SFLMaven Corp. (OTC Pink: SFLM), ("SFLMaven" or the "Company") (www.sflmaven.com), a leading provider of high-end luxury goods, is pleased to announce that Joseph Ladin, the Company’s CEO, returned to MoneyTV for another in-depth interview with Donald Baillargeon.

The interview can be accessed at: moneytv.net

Ladin starts off by providing a fresh update on the Company’s recent performance in its core real-world jewelry business before discussing new tech developments that stand to differentiate the Company as a powerful innovator in the Metaverse.

In the interview, Ladin notes that the Company’s core SFLMaven jewelry business continues to show robust and resilient growth this year, even against the backdrop of two consecutive quarters of GDP contraction in the U.S. (according to the advance estimate released by the Bureau of Economic Analysis on July 28). The Company’s total gross sales are up to nearly $6.2 million (unaudited) in 2022, expanding nearly 17% on a comparable year-over-year basis. Total items sold have already topped 7,400 this year, up nearly 15%. And the average sales price per item sold by the Company in 2022 has grown to $833 (versus approximately $815 in 2021).

Ladin also noted that the Company is rapidly approaching the official global launch of the first wave of its revolutionary original digital vintage NFT jewelry line for sale in its Decentraland metaverse store. He expects that launch to be announced imminently.

The rest of the interview focuses on a more detailed discussion related to the Company’s development of new and potentially groundbreaking intellectual property (pursuant to its press release dated July 26): “We have filed a patent to give us the rights to how people in the metaverse can identify the value of something somebody is wearing [in the metaverse] on sight.”

As covered in the Company’s release, the provisional patent covers technology designed to allow NFT’s to have a graphical interface that tells others that the NFT has significant value.

SFLMaven Patent Filing and Technology Explained (Video)

The Company believes that conspicuous consumption won’t stop at the boundary of “real life” but will extend into the metaverse with potentially enormous implications given that the value of digital wearables is currently far more difficult to assess in the course of social experience within the metaverse than it is in our real-world experiences.

As Baillargeon summarizes in the interview, “If somebody buys some digital ‘bling’, they can display the value of it,” which isn’t currently the case in an accessible, scalable sense.

Ladin notes that this technology can be a competitive advantage as well as a licensing opportunity for additional revenue streams.

Finally, Ladin discusses the upcoming Holiday Season, which is a strong seasonal period for its core real-world jewelry business, noting that the Company has started to build up its inventory to handle the anticipated surge in demand. He also points out that meeting increased demand isn’t a strategic or operational challenge given that SFLMaven has no material supply chain constraints, unlike its competitors, because it does not manufacture any of its jewelry.

Follow SFLMaven on social media:

Twitter: @sflmaven
Instagram: sflmaven

About SFLMaven

SFLMaven Corp. (OTC Pink: SFLM) is a premium provider of high-end luxury goods to a global base of discerning patrons. Famous for its Thursday Night Auction events on its top-rated eBay store, SFLMaven has driven over $140 million in sales since inception, earning more than 100k positive reviews along the way.

For more information, please visit the Company's website at www.sflmaven.com.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements, including information about management's view of SFLMaven Corp.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words 'believes,' 'expects,' 'intends,' 'plans,' 'anticipates,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of SFLMaven, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on SFLMaven's future results. The forward-looking statements included in this press release are made only as of the date hereof. SFLMaven cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SFLMaven undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by SFLMaven.

SOURCE: SFLMaven Corp.

Corporate Contact
info@sflmaven.com

Public Relations
EDM Media, LLC
https://edm.media

FAQ

What is the gross sales figure for SFLMaven in 2022?

SFLMaven reported nearly $6.2 million in gross sales for 2022, reflecting a 17% increase year-over-year.

How many items has SFLMaven sold in 2022?

The company has sold over 7,400 items in 2022, representing a 15% increase from the previous year.

What is SFLMaven's average sales price per item in 2022?

In 2022, the average sales price per item sold by SFLMaven is $833, up from approximately $815 in 2021.

What new product line is SFLMaven launching?

SFLMaven is set to launch a proprietary digital vintage NFT jewelry line for sale in its Decentraland metaverse store.

Does SFLMaven face supply chain constraints?

No, SFLMaven has reported no material supply chain constraints, enabling them to prepare adequately for increased demand.