VANCOUVER, British Columbia--(BUSINESS WIRE)--NFT Technologies Inc. (NEO: NFT | OTC Pink: NFTFF | FRA: 8LO) (the “Company” or "NFT Tech"), a leading technology company mainstreaming decentralized ownership, NFTs and the metaverse for public markets, announced an exclusive multi-year deal with World Table Tennis to develop and execute a web3 strategy that will engage the global fan base and reach the frontier of emerging technology.
In an exclusive multi-year deal, Singapore-headquartered World Table Tennis (WTT) has partnered with NFT Tech. The partnership will span end-to-end web3 strategy encompassing fan engagement to digital collectibles, metaverse experiences, play-to-earn, and move-to-earn gaming. WTT reported an outstanding global fanbase of 519 million while it runs over 50 global events annually and attracts hundreds of millions of unique viewers.
“I’m extremely excited for what we’ll be able to show off to the world,” said Adam De Cata, CEO at NFT Tech. “Table tennis is exploding in terms of global popularity and participation and the WTT has been very forward-looking and progressive in leading sports technology innovation. We’re going to be able to build exciting multi-faceted experiences that further elevate fan and player engagement including play-to-earn, which in itself is a multiple-billion-dollar opportunity space.”
“WTT has been researching and planning its entry into the web3 space for over 15 months now, studying and analyzing ways in which we can create greater fan engagement through web3,” says Michael Brown, WTT Chief Financial Officer. “The partnership with NFT Tech is the first major step on this journey. NFT Tech has proven to be a leader in the space when it comes to technology innovation in sport, which we believe is crucial when it comes to growing our sport. We believe that coming up with a web3 strategy will resonate with our core fanbase and their interests, while also attracting new fans to participate in the world of table tennis!”
In addition to dominating the table tennis sphere, Asia also leads crypto adoption and tech innovation. In 2021, Metamask, a cryptocurrency wallet leader, reported over 10 million monthly active users and stated Asia was leading the pack when it came to wallet adoption growth. Despite Asia’s dominant position in the cryptocurrency adoption space, there is still much growth potential, with only 3.6% and 10% of the population owning crypto in Southeast Asia and Singapore, respectively.
“This multi-year partnership is a natural continuation of the momentum NFT Tech built at the Australian Open,” continued Adam. “With fifty annual events (as opposed to just one), World Table Tennis presents a ton of potential – not just with new projects or ideas, but also with a business model that leverages resale royalties. With so many tournaments and events, we’ll be able to drive more utility for owning certain NFTs that will come with huge benefits to the fans but also huge opportunity for NFT Tech.”
About NFT Tech
NFT Tech works to develop infrastructure, assets, real estate and IP in the metaverse, build and generate revenue from P2E and M2E games, and bring insights and benefits to the public markets. By bridging the gap between traditional capital markets and the Web3 space, NFT Tech is mainstreaming decentralized ownership, NFTs, and the metaverse. Current projects include founding the GOAT Guild and Fuku.
About World Table Tennis
World Table Tennis is the commercial and events arm of the International Table Tennis Foundation, the world’s governing body for table tennis. The Singapore-based entity runs over 50 global events annually and attracts hundreds of millions of unique visitors to broadcasted events. Their mission is to expand the global table tennis economy; to ensure the sport is financially vibrant from the top down to elevate table tennis to the upper echelon of world sport which will encourage more people to play and consume table tennis.
Cautionary Note on 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 generally are 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 agreement with World Table Tennis and closing date thereof; scope, exclusivity and length of engagement in partnership with World Table Tennis; popularity of table tennis worldwide; continued viewership and growth of table tennis; current and continued adoption and innovation in crypto and related tech in Asia and worldwide; potential growth of adoption and innovation in crypto and related tech in Asia; continued legality of online gambling in certain regions; benefits realized from the agreement; expansion of the Company's NFT developments and product offerings; potential benefits and demands for direct-to-consumer NFT projects; potential benefits, development and acceptance of web3 and related applications; plans for accelerating growth; and the continued public acceptance of NFTs. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release including, without limitation, the risk factors described in the Prospectus. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
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This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in Regulation S under 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.