Wanderport Corporation Announces 10M Shares Cancellation and Business Update

Rhea-AI Summary

Wanderport Corporation (OTC Pink: WDRP) announced a strategic shift towards the NFT and metaverse sectors, intending to launch a collection of 10,000 functional NFTs this year. Additionally, the company has canceled 10M shares, totaling 20M shares, to enhance its capital structure. To establish a metaverse presence, Wanderport is collaborating with UA Multimedia, Inc. for virtual space design, focusing on entertainment and e-commerce. CEO Miki Takeuchi expressed optimism about growth in these sectors, stating the company aims to become a significant player in digital assets.

Positive

• Launch of 10,000 functional NFTs to capitalize on a $25 billion NFT market.
• Cancellation of 20M shares total enhances balance sheet and investor confidence.
• Strategic collaboration with UA Multimedia for building metaverse presence.

Negative

• Transition from previous business operations may lead to operational disruptions.

Company to Create a Functional NFT Collection and Expand into the Metaverse

SANTA MONICA, CA, March 31, 2022 (GLOBE NEWSWIRE) -- Wanderport Corporation (OTC Pink: WDRP), a holding company specializing in blockchain, digital asset and metaverse, is pleased to provide a business update including the cancellation of 10M shares and the initiatives in the non-fungible token (NFT) and metaverse areas.

Outstanding Shares Reduction

As part of management’s commitment to improve the balance sheet and capital structure, the Company had reached an agreement to secure and cancel an additional 10M shares of its Common stock, bringing the total to 20M shares. 

Functional NFT

In 2021, the NFT market grew to nearly $25 billion.  To participate in this burgeoning market, Wanderport plans to introduce a collection of 10,000 functional NFTs later this year.  Similar to some of the well sought after functional NFTs such as BAYC, the Company’s NFTs will also offer a range of value-added benefits for their owners.  Additional information regarding this project will be provided in the upcoming weeks.

Metaverse

The Company has been forming a team to create a presence in the metaverse.  In addition to other members, Wanderport will collaborate with UA Multimedia, Inc. (OTC Pink: UAMM) who will help design and build virtual spaces for the Company.  The venues will primarily focus on entertainment and e-commerce.

The Company will begin winding down its previous businesses and shift its focus and resources towards the new direction.  It has started on building a new website to present its vision, as well as revamping its social media presence to promote awareness of the new projects.

“The growth in the NFT and metaverse space has been strong, and we expect it to continue for the foreseeable future,” commented Miki Takeuchi, CEO.  “After experimenting and evaluating a few options, we have decided to pursue a path that could potentially yield significant results for the Company.  We are committed to grow Wanderport organically and externally via acquisition to become a major player in the digital asset and metaverse space.”

About Wanderport Corporation

Wanderport Corporation is a holding company specializing in blockchain, digital asset and metaverse.  The Company’s mission is to provide products and services to support sustainable crypto initiatives.

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

Facebook: wanderportcorporation
Twitter: @wanderportcorp
Instagram: wanderportcorp

Forward Looking Statements:

Statements made herein constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company’s stock price, increased competition, customer acceptance of new products and services to be offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management’s plans and objectives for future operations. While these forward-looking statements and any assumptions upon which they are based are made in good faith and reflect current judgment regarding the direction of the business operations of Wanderport Corporation, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this press release.

Contact:
Wanderport Corporation
www.wanderportcorp.com

Investor Relations:
Miki Takeuchi
ir@wanderportcorp.com
(310) 526-8720

FAQ

What is Wanderport Corporation's plan for NFTs?

Wanderport plans to launch a collection of 10,000 functional NFTs this year to participate in the growing NFT market.

How many shares has Wanderport Corporation canceled?

Wanderport has canceled a total of 20M shares to improve its capital structure.

Who is Wanderport collaborating with for its metaverse project?

Wanderport is collaborating with UA Multimedia, Inc. to design and build virtual spaces in the metaverse.

When did Wanderport Corporation announce its shift towards the metaverse?

Wanderport announced its strategic shift towards the metaverse and NFT sectors on March 31, 2022.

What does WDRP aim to achieve in the digital asset space?

WDRP aims to become a major player in the digital asset and metaverse space through organic growth and acquisitions.