VANCOUVER, BC, Jan. 11, 2022 /CNW/ - Looking Glass Labs Ltd. ("LGL" or the "Company"), a digital platform specializing in non-fungible tokens ("NFTs"), utility NFT ("uNFT") architecture, immersive extended reality ("XR") metaverse design and virtual asset royalty streams, is pleased to announce the launch of GenZeroes Productions Inc. ("GZP"), which is a wholly owned subsidiary of LGL specializing in the production of original media involving NFTs. The Company has procured an executive and creative team for GZP consisting of accomplished screenwriters who are recipients of the Leo Award in addition to the co-star of Zero Contact – the 2021 film that was the world's first released as an NFT.
With the production of NFT-based entertainment media, LGL intends to grow the community of its flagship studio, House of Kibaa ("HoK"), through the inclusion of adjacent communities of various media genres such as science fiction. LGL believes such media could prove to be an exemplary use case for NFTs in line with their intended purpose of providing intellectual property protection for the benefit of artists, creators and NFT owners.
In the near future, GZP will collaborate with HoK to produce "GenZeroes" as a ten-episode science fiction series (the "GenZeroes Series") with storylines built around the GenZeroes NFT collection. LGL has arranged for the series finale of the GenZeroes Series to be screened during the San Diego Comic-Con International convention scheduled to occur from July 21-24, 2022. The production of the GenZeroes Series will be led by the following GZP executive and creative team members:
- Aleks Paunovic (IMDB): Co-starred with Oscar-winning actor Anthony Hopkins in Zero Contact, which was the first feature-length Hollywood film to be released as NFTs. Mr. Paunovic also appeared in the 2021 Marvel Studios series Hawkeye, with over 30 awards and nominations as well as several high-profile film and television credits including but not limited to Snowpiercer, Planet of the Apes, and Van Helsing; and
- Jeremy Smith (IMDB) and Matt Venables (IMDB): The duo of Mr. Smith and Mr. Venables have held several production roles (including Co-Executive Producer and Co-Producer) for dozens of episodes of the Van Helsing television series, for which they both won the 2020 Leo Award in the category of Best Screenwriting in a Dramatic Series. They also held the roles of Writer and Story Editor for the science fiction television series Continuum.
LGL will have Mr. Paunovic, Mr. Smith, and Mr. Venables on a live broadcast hosted simultaneously on Discord Stages and Twitter Spaces during the week of January 24th, 2022 to discuss their involvement with GZP. Special announcements about the GenZeroes Series will also be made during the event. People interested in receiving more information about the broadcast can sign up to receive emails from LGL on its website or by following the Company on Twitter (@lgl_io).
Additionally, the GenZeroes Series will be associated with at least 30 collective NFT issuances ("Drops") related to the show. The Drops are expected to provide a supplemental source of revenue for LGL from the initial NFT sales as well as the royalty streams from all resales of the NFTs in perpetuity. LGL also intends to embark on a public relations campaign to create awareness of the GenZeroes Series in order to both promote viewership of the show and demonstrate the novel approach of funding media production through the sale of NFTs.
On December 24, 2021, LGL released a preview of the GenZeroes Series that can be viewed via the following link: https://www.youtube.com/watch?v=DW5woiboOWg
Dorian Banks, Chief Executive Officer of LGL commented, "We believe in taking a bold, hands-on and innovative approach to generating value from NFTs, which is why we are excited to be leading the way with a first-of-its-kind, NFT-driven, live-action series. Our new GZP subsidiary plans to crowdfund projects such as the GenZeroes Series through NFT drops." Mr. Banks added, "Our team is hopeful that fans and supporters will be able to enjoy an unparalleled level of engagement with the HoK community by being a stakeholder in original media. LGL is grateful to Mr. Paunovic, Mr. Smith and Mr. Venables as the core of a renowned team at the helm of GZP and we are confident that they can make the world's first NFT-based series a success."
Neil Stevenson-Moore, Chief Product Officer of LGL added, "GenZeroes represents another exciting milestone for our entire organization. Our new production team is focused on making HOK and LGL the place that the television and film communities go to leverage NFTs in an authentic manner. We are excited to be working with leaders in the industry like Aleks Paunovic, Jeremy Smith, and Matt Venables on our first project; and we look forward to announcing more cast and crew members in the coming weeks."
ABOUT LOOKING GLASS LABS
Headquartered in Vancouver, British Columbia, Looking Glass Labs is a digital platform specializing in non-fungible token ("NFT") architecture, immersive extended reality ("XR") metaverse design, and virtual asset royalty streams. Its leading brand, House of Kibaa ("HoK"), designs and curates a next-generation metaverse for 3D assets, which allows functional art and collectibles to exist simultaneously across different NFT blockchain environments. HoK has successfully released digital assets to include GenZeroes, which completely sold out in just 37 minutes for total proceeds to LGL of $6.2 million, in addition to a perpetual 5% royalty stream on secondary market sales. HoK plans to launch a hyper-realistic metaverse built on the Unreal 5 engine in 2022.
On behalf of LOOKING GLASS LABS LTD.
Dorian Banks, Chief Executive Officer
This news release contains "forward-looking statements." Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things: the Company's goal to become the leading digital studio specializing in NFT architecture, immersive metaverse design and virtual asset display monetization streams; to build out a portfolio of perpetual NFT royalty streams through collaborations, accretive acquisitions and other arrangements, to potentially result in consistent, de-risked and passive revenue; intention to grow the community of its lead studio HoK through the inclusion of adjacent communities of various media genres such as science fiction; belief that NFT-based entertainment media could prove to be an exemplary use case for NFTs in line with their intended purpose of providing intellectual property protection to the benefit of artists, creators and NFT owners; GenZeroes Series will consist of 10 episodes; GenZeroes Drops will consist of 30 releases; the Drops are expected to provide a supplemental source of revenue; and intention to retain a publicity team to cultivate public awareness of GenZeroes.
The material assumptions supporting these forward-looking statements include, among others, that: the Company could mitigate the risks associated with the blockchain and NFT industry; the ability to retain personnel; and the ability to compete with other businesses in the NFT 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 continued growth and adoption of NFT and metaverse offerings by consumers; the cost of developing and designing NFTs and metaverses is economically viable; the Company being able to attract and retain a sufficient workforce with desired skillsets to develop the Company's NFT and metaverse offerings; the availability of offerings provided by third-parties in the NFT, metaverse development and online gaming market to identify potential transactions; the increasing adoption of NFTs as a solution for various online gaming, entertainment and collectible uses; the ability to obtain sufficient funding to complete the GenZeroes project; the Company having the ability to mitigate the risks associated with the blockchain and NFT industry; and the ability to compete with other businesses 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 are not accepted by the consumer, the risk that other competitors may offer similar digital offerings; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete the development of any of its technologies; the risk that the Company may not be able to obtain additional financing as necessary; the risk that there may be increases in capital and operating costs; the risk that the NFT technology may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain that make the NFT solutions obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the blockchain solutions; the risk that other competitors may release similar blockchain offerings; the potential future unviability of the NFT market in general; the volatile cost of the amount of computational effort required to execute specific operations on the blockchain, and other general risks involved in the blockchain solutions.
Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials, including its reports filed with the Canadian securities regulators and which can be obtained from www.sedar.com.
Any of these risks may 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 these forward-looking statements. Further, 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 forward-looking statements, there may be other factors that cause results, levels of activity, performance or achievements not to be as anticipated, estimated or intended. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. The Company does not assume any liability for disclosure relating to any other company mentioned herein.