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Jan 19, 2022, 14:10 ET
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Image: Pre-rendered build of a ‘Vision’-space in the Portals Metaverse.
TORONTO, Jan. 19, 2022 /PRNewswire/ – TerraZero Technologies Inc. ("TerraZero" or the "Company"), a vertically integrated Metaverse technology company, announced a significant six-digit USD investment in Solana-based Metaverse platform Portals (www.theportal.to), which represents the largest Portals transaction ever at the time of purchase.
The NFT, ‘Vision #4,’ represents a ‘Vision’-space on the Portals Metaverse platform, a Metaverse running on the Solana blockchain. Solana is uniquely competitive in the Metaverse space as the blockchain incurs minimal to zero gas fees and other transaction fees.
Recently, major industry names and players like Binance.US (www.binance.us), FTX.US (www.ftx.us), the U.S. arm of crypto exchange FTX (www.ftx.com), Raydium (www.raydium.io), Magic Eden (www.magiceden.io), Audius (www.audius.co), Bonfida (www.bonfida.org), and others will have a presence in the Portals Metaverse. Solana is backed by a group of principals from around the world, comprising of entrepreneurs, engineers, designers, and developers.
Dan Reitzik, Blockchain-veteran, CEO and Founder of TerraZero, states:
"We will back the platforms which have the infrastructure and versatility built for the long-term. More and more people are going to understand how much Metaverse platforms will bring the real world into the virtual world and the virtual world into the physical world. TerraZero works to build the products and services users, businesses, and brands need to scale in the Metaverse at the highest level."
What can a company like TerraZero do with a six-figure USD NFT in the Portals Metaverse? ‘Vision #4′ is one of 75 Vision Portals currently available, granting access to a competitive, fully-furnished piece of digital real estate. Portals’ mission is to create and grow a thriving downtown scene, inviting new users to leverage land and token value for early adopters.
Key cards offer a complete space where players can enter fully-furnished, customizable environments. Portals also features fully integrated audio and video chat functionality, allowing access card owners to invite friends, host events, and organize gatherings – a complete virtual experience. These kinds of conveniences and readily-immersive platforms expedite onboarding and remove barriers to entry for all users looking to experience the Metaverse.
TerraZero plans to not only own and operate premium land in the Metaverse, but grow community and form partnerships that leverage the best of the Metaverse as the digital world and real world continue to intertwine.
About TerraZero Technologies Inc.
TerraZero Technologies Inc. ("TerraZero") was founded by cryptocurrency and blockchain pioneer Dan Reitzik, founder and former CEO of DMG Blockchain Solutions Inc., one of North America’s leading Bitcoin miners. TerraZero is a vertically integrated Metaverse development group and leading Web 3.0 technology company specializing in the Metaverse space. The Company’s Metaverse agnostic vision is to develop, acquire, and finance the Metaverse’s most promising companies, entrepreneurs, and developers, while creating solutions to further enhance the Metaverse usability for greater community engagement within the Metaverse, and to connect the real world to the Metaverse, for the creation of new economies and user experiences that will shape the future of Web 3.0. TerraZero also owns digital real estate and provides offices and services to those interested in the Metaverse. Furthermore, TerraZero acquires, designs, builds, and operates virtual assets and solutions to monetize the Metaverse ecosystem. The Company’s businesses are segmented into five (5) divisions which include: (1) virtual real estate; (2) advertising; (3) data analytics; (4) events and marketing; and (5) infrastructure. TerraZero aims to support the community, foster innovation, and drive adoption. For more information, please visit www.terrazero.com or contact [email protected].
About Solana Blockchain Platform:
Solana (www.solana.com), managed by the Switzerland-based Solana Foundation and optimized for consumer use cases such as micropayments and gaming, has experienced strong adoption since launching in March 2020. It has settled over 50 billion transactions (compared to Visa’s 164.7 billion transactions in the year ended Sept. 30), has more than US$11 billion in total value locked and has been used to mint more than 5.7 million non-fungible tokens (NFTs). Currently, more than 400 projects are being built on the network, including Serum (www.projectserum.com), a high-frequency trading platform, Metaplex (www.metaplex.com), an app for creating and hosting NFT storefronts, and Audius (www.audius.co), a music-streaming platform, is also being built on Solana, enabling song owners to retain some ownership rights to their works.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain statements and information that may constitute forward-looking information or statements within the meaning of applicable securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends," "expects," or "anticipates," or variations of such words and phrases or statements that certain actions, events, or results "may," "could," "should," "would," or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements," are not historical facts and are made as of the date of this news release, which includes without limitation, statements regarding discussions of future plans, estimates, and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the Company’s intention to develop and drive traffic to its assets and location within Portals and other virtual worlds; that establishing an early presence within the Metaverse will provide the Company with new users, branding, and marketing opportunities; partnerships; develop products and services; events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.
Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, business, economic, and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to personnel, employees, and consultants; market conditions and the demand and pricing for products and services; the demand and pricing of cryptocurrencies and NFTs; security threats, including a loss/theft of TerraZero’s NFTs, cryptocurrencies, and other assets; TerraZero’s relationships with its customers and business partners; TerraZero’s ability to successfully define, design, and release new products in a timely manner that meet customers’ needs; the ability to attract, retain, and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. As a result, TerraZero may not actually achieve its plans, projections, or expectations. In addition, such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to develop software successfully, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals, and the price of cryptocurrencies and NFTs. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements.
Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain regulatory approval, the continued availability of capital and financing, technology failures, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of COVID-19 or other viruses and diseases on the Company’s ability to operate and hire personnel, competition, security threats including stolen NFTs and cryptocurrencies from TerraZero or its customers, consumer sentiment towards TerraZero’s products, services and Metaverse technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in labor costs, decrease in the price of cryptocurrencies and NFTs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market, or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties
SOURCE TerraZero Technologies Inc.
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