House of Kibaa, Zaire Wade’s YnG DnA Brand and Electric Token Collaborate for Sustainable Genesis NFT

10/25, 1:30 PM (Source: GlobeNewswire)

VANCOUVER, British Columbia, Oct. 25, 2021 (GLOBE NEWSWIRE) -- House of Kibaa (“HoK” or the “Studio”), a wholly owned subsidiary of Looking Glass Labs Ltd. (“LG Labs”), is pleased to announce that HoK will unveil a non-fungible token (“NFT”) in collaboration with Zaire Wade for his “YnG DnA” brand and apparel line on October 25, 2021 (the “YnG DnA Release”). Mr. Wade is a newly signed National Basketball Association (“NBA”) prospect of the Utah Jazz, current NBA G League player for the Salt Lake City Stars, and son of NBA legend Dwayne Wade. The Studio’s previous and ongoing NFT collaboration projects include Gutter Cat Gang and Tools of Rock.

Together with YNG DNA, Electric Token and Facings, HoK has also teamed up with The Worldwide Asset eXchange (“WAX”) to produce sustainable and environment friendly NFTs. The NFTs are on the WAX and Polygon blockchains, which are blockchain networks that require much less energy to operate than the traditional alternative.

The YnG DnA Release will feature art designed with contributions from HoK, Sir Charles Media, Konda, and photography by Lars Kommienezuspadt. YnG Meta NFTs on WAX will be able to redeem for special YnG DnA Meta NFTs on Polygon, qualifying members and buyers for special perks and possible redemptions for wearables and physical items as well as ultra-rare NFTs, a chance to win special virtual gaming sessions with Zaire Wade, and a future HoK Metaverse Avatar.

NFT Packs will be available for sale on October 25th at 10:00 AM PT online at https://nfts.yng-dna.com/#/home. The Big Pack will contain 10 cards at $20.00 while the Huge Pack will contain 20 cards at $40.00. The packs can be purchased via credit card or the cryptocurrency WAX. HoK Genesis members qualify to receive 1 free NFT pack.

Other owner privileges are coming soon, especially for YnG Meta NFT on Polygon holders, as YnG DnA works with the Studio to allow exclusive access to purchase limited edition physical merchandise. In addition, HoK will also be enabling YnG Meta NFTs on Polygon to be used in the HoK Metaverse.

To own the limited series, register for a WAX wallet on on.wax.io/wax-io/.
For more information on the YnG-DnA brand, visit yng-dna.com/.
For more information on this release and other NFT designs and projects, check out houseofkibaa.com/.

ABOUT LOOKING GLASS LABS

Based in Vancouver, British Columbia, Looking Glass Labs is a digital agency 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”), is a digital studio at the forefront of technologies in the blockchain, NFT and XR metaverse sectors. HoK designs and curates a next generation metaverse for 3D assets, which provides utilities and platform tools that enable users to showcase their individual style and NFT collections within a proprietary metaverse.

On behalf of:

LOOKING GLASS LABS LTD.
Dorian Banks
Dorian Banks, Chief Executive Officer

For further information, please contact:
Dorian Banks
Tel: 604-687-2038
Email: info@lgl.co

Forward-Looking Information

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; and 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.

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; 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 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.


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