VANCOUVER, British Columbia, Oct. 13, 2021 /PRNewswire/ -- GameOn Entertainment Technologies Inc. (CSE: GET) (OTCQB: GMETF) (FSE: 9E7) ("GameOn" or the "Company"), a leader in providing broadcasters, TV networks, OTT platforms, leagues, tournaments, sportsbooks and NFTs with white label fan engagement technologies around sports, TV and live events, is pleased today to announce a partnership with Chibi Dinos.
The partnership entails Chibi Dinos utilizing GameOn's NFT Prediction Game product to give their 10,000 digital dinos utility in gaming. The deal guarantees GameOn USD$120,000 in revenue with an expected gross profit of 80%. The deal also includes a 50% revenue share of primary and secondary sales of at least one new NFT drop related to the Chibi Dinos NFT Prediction Game.
"NFT creators need ways to give their digital collectibles utility beyond collecting and trading, and that's where GameOn adds value with our innovative fan engagement technologies," said Matt Bailey, GameOn CEO. "Partnering with Chibi Dinos presents a whole new category of customers for GameOn beyond sports, TV and live events rights holders, allowing us to expand our total addressable market. Revenue streams like primary and secondary market NFT sales are uncapped, in perpetuity and therefore particularly lucrative."
Chibi Dinos are 10,000 NFTs of different chibis—a Japanese slang word describing something short, often a specific type of caricature where characters are drawn in an exaggerated way. Chibi Dinos are dressed in dinosaur suits and in the jersey of 10 basketball teams, all backed by current and former NBA players including Michael Carter-Williams, Kendrick Perkins and R.J. Hampton, serving as team captains.
Chibi Dinos sold out in 18 minutes on minting day on August 20, priced at 0.06 Ethereum (ETH). The collectibles are now available on OpenSea, a peer-to-peer secondary marketplace for NFTs with more than $1 billion in sales to-date.
Launched in July, GameOn's NFT Predictor, spearheaded by Santiago Jaramillo, former Head of Sports at Dapper Labs (NBA Top Shot), enables fans of rights holders who partner with GameOn to build up their collection by acquiring NFTs - images, video or audio - by either purchasing via primary drops or a third-party marketplace. From there, they leverage those assets to make predictions about upcoming events and are rewarded with status, recognition, prizes and exclusive NFTs for finishing high on leaderboards. Completed collections of high-value NFTs can then be traded in for real-life rewards including tickets, merchandise and other exclusive offerings.
The Company also announces the following:
- It has entered into an engagement with Lambert & Co ("Lambert") to provide investor relations and capital markets advisory services to the Company. The agreement with Lambert has an initial term of one year, for which Lambert will be paid a monthly fee of USD$7,000.
- It has entered into an engagement with Oak Hill Capital ("Oak Hill") to provide investor relations and capital markets advisory services to the Company. The agreement with Oak Hill has an initial term of three months, for which Oak Hill will be paid a monthly fee of CAD$12,000.
- It has entered into an engagement with Lion Capital Investment Limited ("Lion") to provide consulting and other services to the Company. The agreement with Lion has an initial term of four months, for which Lion will be paid a fee of USD$450,000.
- It has approved the settlement of CAD$14,000.03 of debt through the issuance of common shares of GameOn (the "Debt Settlement") on September 7, 2021. Pursuant to the Debt Settlement, the Company would issue 41,177 common shares of the Company (the "Shares") at a deemed price of $0.34 per Share to an insider of the company. All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue. There was no material undisclosed information at the time of Debt Settlement.
On behalf of the Board of Directors:
Director & Chief Executive Officer
GameOn Entertainment Technologies Inc.
For more information:
Lambert & Co.
ABOUT GAMEON ENTERTAINMENT TECHNOLOGIES INC.
GameOn (CSE: GET) (OTCQB: GMETF) (FSE: 9E7) powers the most-watched content in the world with the most innovative white label fan engagement technologies. GameOn provides broadcasters, TV networks, OTT platforms, leagues, tournaments, sportsbooks and NFTs with interactive, social experiences around sports, television and live events. Since completing the Comcast NBCUniversal LIFT Labs Accelerator powered by Techstars in 2018, GameOn has secured white label projects with several partners in sports and entertainment. Through our innovative gamification technologies and meta-layers, including first-of-its-kind NFT integration, we bring fans closer to their favorite sports and entertainment content and increase engagement through community, competition and rewards.
GameOn has a dynamic and experienced management team led by its CEO, Matt Bailey (Brooklyn Nets, Barclays Center), Chief Product Officer, Santiago Jaramillo (Dapper Labs, NBA Top Shot, EA Sports) and VP of Partnerships, Ryan Nowack (Madison Square Garden, New York Knicks, New York Rangers), as well as its Directors, J Moses (Take-Two Interactive), Shafin Tejani (Victory Square Technologies), Liz Schimel (Apple News) and Carey Dillen (YYoga).
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could," "estimates," "expects," "forecasts," "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about GameOn's listing and commencement of trading on the CSE.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and GameOn disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE GameOn Entertainment Technologies Inc.