VANCOUVER, British Columbia, November 4, 2024 (GLOBE NEWSWIRE) — Laboratoires Métasphère Inc. (“Metosphere” or the “Company”) (CSE: LABZ) (over the counter: LABZF) (ENG: H1N), a leader in blockchain, metaverse and decentralized identity technologies, is pleased to update its stakeholders on recent advancements and strategic decisions across its key partnerships.
Project delivery for Bluesphere Ventures
On November 1, 2024, Metasphere completed and delivered its work for Bluesphere Ventures Inc., initially announced in March 21, 2024. This milestone highlights Metasphere’s ability to meet demanding deadlines, driving progress toward the shared vision of “Ents World,” an open, environmentally friendly metaverse initiative.
Termination of partnership with Bot Ventures
Following the May 8, 2024 announcement, Metasphere has decided to re-prioritize its resources, mutually agreeing with Bot Ventures to terminate the decentralized identity project (the “Termination“). Metasphere retains the developed assets and may consider launching the project independently in the future, although no immediate plans are in place. There are no fees related to termination.
Advancement of the VR platform with ARCannabis
As part of its definitive agreement with ARCannabis announced on June 21, 2024Metosphere is finalizing the development of a VR retail platform, with delivery expected by the end of this quarter. This immersive experience will redefine customer interactions within virtual reality.
Development of the CarbonBot protocol with Ecoblox and Pure Sky
Significant progress has been made in the Carbon-Aware Routing Protocol collaboration with Ecoblox and Pure Sky, announced in July 9, 2024. The project now operates collectively under the CarbonBot brand, departing from initial plans for a utility company. Although the protocol was not presented at MWC Americas, the partnership plans to participate at MWC 2025 in Barcelona. The completed carbon offset protocol is available on GitHub, with plans underway for an audit by an ISO or UN certified VVB (verification and validation body), which would potentially make it the first recognized carbon offset protocol to meet strict environmental standards, following which it will be submitted to the Pure Sky Registry for voting by its members.
Future goal: development of the TON blockchain and the metaverse on Telegram
As Metasphere looks to the future, it will focus on developing metaverses and mini-apps on the Telegram Messenger platform, leveraging the Telegram Open Network (TON) blockchain. This strategic shift aligns with Metasphere’s mission to democratize access to decentralized applications within widely adopted social ecosystems, offering secure, scalable solutions that foster community interactions.
About Metasphere Labs Inc.
Metasphere Labs Inc. is a leading developer of Web3 and Metaverse strategies. The company specializes in integrating blockchain technology into real-world applications, with a focus on environmental sustainability and social impact. Metasphere is passionate about applying decentralized solutions to some of the most pressing challenges of our time.
For more information, please contact:
Metasphère Laboratories Inc.
Natasha Ingram, CEO
Email: info@metasphere.earth
Telephone: 604-687-2038
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 any statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements include, among other things, the development of the Carbon Credit Protocol initiative, other open metaverse and blockchain projects, as well as the development of virtual world projects.
Material assumptions supporting these forward-looking statements include, among others, the following: the Company may mitigate risks associated with the blockchain and NFT industry; the ability to compete with other companies in the NFT, metaverse and blockchain markets; the availability of sufficient financing to carry out the Company’s business development plans; favorable market conditions; and market acceptance of its products.
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, metaverse and blockchain offerings; the cost of developing and designing NFTs and metaverses is economically viable; the Company being able to attract and retain sufficient workforce with the desired skills to develop the Company’s digital offerings; the availability of third-party offerings 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 collectible 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 offer similar digital offerings; the risk of adverse changes in general economic and business conditions; the risk that the Company has negative operating cash flows and not enough capital to complete the development of any of its technologies; the risk that the Company will not be able to obtain additional financing if necessary; the risk of increased investment and operating costs; the risk that NFT technology is subject to fraud and other failures; the risk that there will be technological changes and developments in the blockchain rendering NFT solutions obsolete; risks related to regulatory developments or actions likely to hinder the development or operation of blockchain solutions; the risk that other competitors will offer similar blockchain offerings; the potential future unviability of the NFT market in general; the volatile cost of the amount of computational effort required to perform specific operations on the blockchain, and other general risks involved in blockchain solutions.
The 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 regulatory authorities and which may be obtained from www.sedarplus.ca.
Any 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 d other factors that could cause results, levels of activity, performance or achievements to differ materially from those described in the forward-looking statements. achievements should not be those anticipated, 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 the forward-looking statements, or to update the reasons why actual results could differ from those projected in the statements. prospective. 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 accurate. The Company assumes no responsibility for the disclosure relating to any other company mentioned herein.
SOURCE: METASPHÈRE LABORATORIES INC.
