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Looking Glass Labs Forms Strategic Development Partnership with Cavrnus to Deliver Clear Innovation and Commercialization Strategy in the Metaverse | cryptopolitan

Vancouver, British Columbia, December 19, 2022, Chainwire

Looking Glass Labs Forms Strategic Development Partnership with Cavrnus to Provide Clear Metaverse Innovation and Commercialization Strategy

Brands and creators will have access to powerful, user-friendly metaverse building and deployment tools to create unique experiences using cutting-edge technology that puts partnership, community, and branded apps at the forefront of industry

Looking Glass Labs Ltd. (“LGL” or the “Company”) (NEO: NFTX) (AQSE: NTFX) (OTC: LGLSF) (FRA: H1N), a leading web3 platform specializing in immersive metaverse environments, play-to- earn and block chain Monetization Strategies, announces that it has signed a Strategic Development Agreement (the “Agreement”), which forms the basis of a Strategic Development Partnership (the “SDP”), with Cavrnus, Inc. (“Cavrnus” ).

The main objective of the agreement is to co-develop immersive metaverse experiences for consumer brands, through the expansion of LGL’s Pocket Dimension metaverse by deploying it on multiple operating systems and mobiles for increased accessibility. users, and providing a transparent and user-friendly metaverse builder. and deployment tools, which should result in the ability to accelerate Pocket Dimension products to other brands and partners.

The SDP leverages the complementary strengths of both parties to provide Web3 early adopters with a comprehensive and seamless approach to metaverse engagements. To do this, the companies will share documentation, APIs and work cooperatively on go-to-market activities such as sales and marketing.

Cavrnus is a brand that aims to push the boundaries of creativity in the metaverse sector. It gives brands like LGL the versatility, stability and security to create and share immersive metaverse experiences that inspire connection between users across space and time. Cavrnus is the leading provider of a scalable, secure, and enterprise-grade metaverse building and deployment platform. In addition to its full-stack SaaS products, Cavrnus recently announced the Cavrnus Metaverse Connector™ plugin for Unreal Engine, which allows UE developers to easily transform their application instantly into a metaverse experience. It is now available in a limited beta version. Cavrnus also has relationships with companies like Epic Games, AWS, Meta, and others, as listed on their website. More information about Cavrnus can be found by visiting https://www.cavrn.us.

Pocket Dimension is a hyper-realistic digital world that is built using the latest version of Unreal Engine to provide users with a premium virtual experience. Each Pocket Dimension features one of eleven

different environments, including archipelago, countryside, valleys, dunes, fjord, swamp, savanna, tundra, woods and zen, as well as the aforementioned Genesis Moon environment exclusively for owners of a Genesis subscription. Each environment offers users various forms of utility, including but not limited to hosting events with their community, integrating custom structures, and adding digital assets.

Pocket Dimension is a private space covering approximately four acres, where owners can visit, invite friends, view NFTs, create settings, collaborate with others, or facilitate experiences through various utilities and uses. Plots offer their owners additional unique benefits, such as being blockchain agnostic with a wide NFT compatibility (Polygon, Ethereumetc.), an expanded avatar system, a unique non-playable character home system and more.

“We are delighted to collaborate with Cavrnus in this way. Their expertise is complementary to ours and we expect the outcome of our collaboration to be quite positive,” said Dorian Banks, CEO of LGL. “In order to grow in the Metaverse industry, we believe that strategic relationships are vital and we want to continue to create friendly and fulfilling Metaverse experiences for Pocket Dimension holders,” added Mr. Banks.

ABOUT LOOKING GLASS LABS

Based in Vancouver, British Columbia, Looking Glass Labs (“LGL”) is a leading Web3 innovation platform specializing in consumer engagement applications to leverage immersive metaverse environments, tokenization play -to-earn and blockchain monetization strategies. Its leading brand, House of Kibaa (“HoK”), designs and manages a next-generation metaverse for 3D assets, which allows functional art and collectibles to exist simultaneously in different NFT blockchain environments. HoK successfully released digital assets to include GenZeroes, which sold out in just 37 minutes for total proceeds for LGL of CAD 6.2 million, in addition to a perpetual 5% royalty stream on sales on the secondary market.

To view LGL’s current investor presentation, please visit https://www.lgl.io/investors. To join the LGL mailing list, please register via the following link: https://www.lgl.io/contact us.

Forward-looking information

This press release contains “forward-looking statements”. Statements in this press release that are not purely historical are forward-looking statements and include all statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements include, among others: the development of Pocket Dimension, the Company’s goal of becoming the first digital studio specializing in NFT architecture, immersive metaverse design and monetization of virtual asset display.

streams; the intention to build a portfolio of perpetual NFT royalty streams through collaborations, accretive acquisitions and other arrangements, to potentially generate consistent, risk-free and passive revenue; and short-term and future plans.

Important assumptions supporting these forward-looking statements include, among others, that: the company may mitigate risks associated with the blockchain and NFT industry; the ability to compete with other companies in the NFT market; the availability of sufficient funding to carry out the Company’s business development plans; favorable market conditions; HoK’s ability to sell all or substantially all of its product offerings; market acceptance of its products; and the ability to leverage the complementary strengths of Cavrnus and LGL to provide consumer-facing brands and Web3 early adopters with a comprehensive and transparent approach to metaverse engagements.

Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the continued growth and adoption of NFT and metaverse offerings by the mainstream market; the cost of developing and designing NFTs and metaverses is economically viable; the Company being able to attract and retain a sufficient workforce with the desired skills to develop the Company’s NFT and metaverse offerings; the availability of offers provided by third parties in the NFT, metaverse development and online gaming market to identify potential transactions; the growing adoption of NFTs as a solution for various online gaming, entertainment and collecting uses; the Company having the ability to mitigate risks associated with the blockchain and NFT industry; and the ability to compete with other companies in the NFT, metaverse development, content creation, and collectibles market.

Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. These forward-looking statements are only predictions and involve known and unknown risks, uncertainties and other factors, including: the risk that the Company’s offerings will not be accepted by the consumer, the risk that other competitors similar digital offerings; the risk that there may be adverse changes in general economic and business conditions; the risk that the Company will have negative operating cash flow and insufficient capital to complete the development of any of its technologies; the risk that the Company may not be able to obtain additional financing if required; the risk of increased capital and operating costs; the risk that the NFT technology may be subject to fraud and other failures; the risk that there will be technological and blockchain developments that render NFT solutions obsolete; risks related to regulatory changes or actions likely to hinder the development or operation of blockchain solutions; the risk of other competitors publishing similar blockchain offerings; the possible future non-viability of the NFT market generally; the volatile cost of the amount of computational effort required to perform specific operations on the blockchain, and other general risks involved with blockchain solutions.

Risks and uncertainties relating to the Company’s business are discussed in more detail in the Company’s disclosure documents, including its reports filed with Canadian securities regulators and which may be obtained from www.sedar.com.

Each of these risks could cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In addition, although the Company has attempted to identify factors that could cause actual results, levels of activity, performance or achievements to differ materially

from those described in the forward-looking statements, there may be other factors that cause results, levels of activity, performance or achievements not to be as forecast, estimated or intended. These forward-looking statements are made as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statements, or to update the reasons why actual results could differ from

those projected in forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be correct. The Company assumes no responsibility for the disclosure relating to any other company mentioned herein.

SOURCE: LOOKING GLASS LABS LTD.

Contact

Chief executive officer
Dorian banks
[email protected]
Toll Free: +1 833 LGL-NFTX (833-545-6389)

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