NFT Tech acquires Sherwa to further expand into P2E gaming

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Vancouver, British Columbia – NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO) (the “Company” or “NFT Tech”), a leading technology company working to integrate decentralized ownership, NFTs and the metaverse for public procurement, today announced its proposed acquisition (the “Transaction”) of Sherwa Online Services (“Sherwa”), a private company responsible for the development of the game Sherwa Platform (“Sherwa Platform”).

The Sherwa Platform is a gaming platform that creates a space where players can join and interact with a gaming community, participate in community events, and connect with players to enhance any form of online gaming. Following the release of its gaming platform, Sherwa focused on creating unique Web3 applications and products to help Web2 gamers access Web3 P2E games. In the past, Sherwa has partnered with big developers like Riot Games and Epic Games Store to provide better gaming experiences for their players.

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“In P2E gaming, gamers are the most valuable asset and with this acquisition, NFT Tech accesses over one million dedicated users,” said Wayne Lloyd, Executive Chairman of NFT Tech. “The bargaining power this gives NFT Tech in partnership and business discussions with gaming to win games cannot be quantified in words. We are extremely happy to bring these users into P2E. Exciting times to explore opportunities in the space with so many players when we look at ecosystem leaders, like Axie infinity which has 300,000 monthly active users but has a fully diluted market cap of 4.2 billions of US dollars.

NFT Tech’s ability to deliver Web3 projects for top-tier brands, along with Sherwa’s access to over one million gamers worldwide, will help the company achieve its long-term ambition to help to transform the gaming industry. Thanks to the combined offer of NFT Tech new gaming platform and the new addition of Sherwa’s player base, NFT Tech will be better able to provide some of the biggest game studios with an opportunity to quickly win players by offering them competitive rewards.

“We are very excited to join NFT Tech,” said Luiz Persechini, CEO and co-founder of Sherwa. “The shift from Web2 gaming to Web3 gaming is extremely interesting and exciting for us. The team at NFT Tech is visionary and that’s exactly what our team needs to grow our business. We’ve already worked with major game publishers. games like Riot and Epic Games and we’re excited to bring our relationships and expertise to this growing gaming trend.”

Last week, Epic Games Announced that they will support P2E games on their platform of over 160 million users, as well as listing the first NFT game on the Sherwa platform, “Grit”. This move represents the strength of the P2E gaming space both in gaming in general and in crypto and highlights the direction in which the “microtransaction” economy is going: instead of simple transactions between players and game developers, transactions between players themselves are increasing – and developers are taking a cut. Games like CS:GO are a great example of this, where players can earn skins for completing a match and then sell the skins for real money. The CS:GO skin industry is valued at $50 billion, with billions of dollars worth of skins changing hands between players every year. Fee per transaction on CS:GO is 10%. Additionally, Discord, primarily a game chat platform that allows gamers to voice chat with other gamers, is rated at 15 billion US dollars.

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NFT Tech and current Sherwa shareholders entered into a binding letter of intent regarding the transaction on June 16, 2022, which is subject to several completion conditions, including entering into a definitive agreement. Upon closing of the transaction, NFT Tech is expected to issue a total of 2,500,000 common shares, issued on a pro rata basis to Sherwa shareholders in exchange for acquiring all issued and outstanding shares of Sherwa. Under the terms of the agreement, NFT Tech will assume Sherwa’s outstanding related party loans and expects to settle these loans at closing.

About Sherwa
Founded in 2018 by Luiz Persechini, André Gross and Pedro Vasconcellos, Sherwa is a startup created to develop smart solutions for the modern gamer, in a safe environment and with the necessary support to ensure gamer enjoyment. Based in Canada, the company is gamer-owned and gamer-focused. In April 2022, Sherwa reached the milestone of 1,000,000 downloads.

Find Sherwa online:
sherwa.gg
twitter.com/sherwaglobal

About NFT Tech
NFT Tech works to develop infrastructure, assets, real estate, and intellectual property in the metaverse, create and generate revenue from P2E and M2E games, and bring insights and benefits to public markets. Bridging the gap between traditional capital markets and the Web3 space, NFT Tech integrates decentralized ownership, NFTs and the metaverse. Current projects include founding the GOAT Guild and Fuku.

Find NFT Tech online:
twitter.com/nfttech
medium.com/@nfttechnologies
nfttech.com

Caution regarding forward-looking information
This press release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company. These forward-looking statements are generally identified by words such as “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”, “plan”. , “”may”, “should”, “will”, “would” and similar expressions. Forward-looking statements in this press release include statements relating to the completion of the acquisition of Sherwa and the closing date thereof; benefits from the Transaction; expansion of the Company’s NFT developments and product offerings; potential benefits and demands of direct-to-consumer NFT projects; potential benefits, development and acceptance of web3 and related applications; plans to accelerate the growth and transformation of the gaming industry; and continued and enhanced public acceptance of NFTs, P2E games and related offerings. Although the Company believes that the expectations and the assumptions on which these forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information as the Company iety cannot give any guarantee that they will prove to be correct. Because forward-looking statements and information relate to future events and conditions, they, by their very nature, involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements contained in this press release, including, without limitation, the risk factors described in the Prospectus. Readers are cautioned that the above list of factors is not exhaustive. The forward-looking statements included in this press release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise. , except as required by applicable law.

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No securities regulatory authority has approved or disapproved of the contents of this press release. The Neo Exchange has not reviewed or approved this press release for the adequacy or accuracy of its contents.

This press release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “United States Securities Act”) or any state securities law and may not be offered or sold in the United States or U.S. Persons (as defined in Regulation S of the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220630005883/en/

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contacts

Wayne Lloyd, Executive Chairman
[email protected]

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