Versus Systems Announces Strategic Investment from Global Digital Entertainment Leader Animoca Brands in Most Recent Public Offering

Rhea-AI Summary

Versus Systems Inc. (Nasdaq: VS) announced a strategic investment from Animoca Brands, a leader in blockchain gaming, following a public offering that closed on February 28, 2022. This partnership reflects confidence in Versus' growth strategy and proprietary technology aimed at enhancing engagement in digital entertainment. Animoca's investment aligns with Versus' vision of audience interactivity and rewards in the emerging Web3 and open metaverse space, positioning the company for future developments in play-to-earn and watch-to-earn platforms.

Positive

• Animoca Brands' investment signifies strong confidence in Versus' technology and business model.
• The partnership aligns with the growing demand for audience engagement and rewards in digital entertainment.
• Positioning in Web3 and blockchain enhances Versus' potential for future growth.

Negative

• None.

LOS ANGELES, March 10, 2022 (GLOBE NEWSWIRE) -- Versus Systems Inc. (“Versus” or the “Company”) (Nasdaq: VS) today announced that Animoca Brands, one of the largest and most visible blockchain gaming companies in the world, recently participated in the Company’s public offering that closed on February 28, 2022.

Animoca Brands is a global leader in digital entertainment, blockchain, and gamification that is driving digital property rights via NFTs and gaming to help build the open metaverse. Its strategic investment demonstrates its support for Versus’ vision for the future of rewards in entertainment and reflects its confidence in Versus’ proprietary technology and growth roadmap.

“Animoca Brands is hugely influential in blockchain, games, rewards, and Web 3.0 products and investing. As its partnerships with and investments in Axie Infinity, Dapper Labs, OpenSea, Thetan Arena, Polygon and others have shown, Animoca has a deep understanding of Web3, gamification, and the potential of rewards-based audience engagement,” said Matthew Pierce, Founder and CEO of Versus Systems. “Having worked with Animoca Brands for many years, its investment in Versus is a meaningful reflection of its confidence in our technology, business model, and growth strategy. Both companies are strongly aligned in their vision for audience interactivity and rewards in the future of digital entertainment.”

Yat Siu, the Executive Chairman and Co-Founder of Animoca Brands, said: “We believe that Versus Systems is well-positioned to bring its engagement and rewards expertise to Web3 and blockchain to leverage play-to-earn and watch-to-earn platforms. We look forward to new and exciting developments from Versus as it brings its expertise in audience engagement to the open metaverse.”

About Versus Systems

Versus Systems Inc. is an engagement and rewards company that makes live events, games, shows, and apps more fun to watch and play. Versus adds interactive games, polling, trivia, predictive elements, and other win conditions to existing entertainment - whether in-venue or online - making the content more contextual, personal, and rewarding. Versus works with world class sports teams, leagues, venues, entertainment companies, and other content creators to make engaging, rewarding experiences for fans all over the world. For more information, please visit www.versussystems.com or visit the official Versus Systems YouTube channel.

About Animoca Brands

Animoca Brands, a Deloitte Tech Fast winner and ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification. It develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E. The company has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Bondly, Lympo, and Grease Monkey Games. Animoca Brands has a growing portfolio of more than 170 investments in NFT-related companies and decentralized projects that are contributing to building the open metaverse, including Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others. For more information visit www.animocabrands.com or follow on Twitter or Facebook.

Investor Contact:
Cody Slach and Sophie Pearson
Gateway Investor Relations
949-574-3860
IR@versussystems.com
or
press@versussystems.com

Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward looking statements. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable law.

FAQ

What was the significance of Animoca Brands' investment in Versus Systems?

Animoca Brands' investment underscores confidence in Versus Systems' technology and growth strategy, supporting its vision for audience engagement in the digital entertainment sector.

When did Versus Systems complete its public offering?

Versus Systems completed its public offering on February 28, 2022.

How does the partnership with Animoca Brands benefit Versus Systems?

The partnership provides strategic support and validates Versus' approach to enhancing engagement through blockchain technology in the evolving Web3 landscape.

What is the focus of Versus Systems in the blockchain space?

Versus Systems focuses on leveraging play-to-earn and watch-to-earn models to enhance audience engagement and rewards in digital entertainment.

What is the stock symbol for Versus Systems?

The stock symbol for Versus Systems is VS.