Looking Glass Labs Ltd. ("LGL" or the "Company") (NEO:
NFTX) (AQSE: NFTX) (OTC: LGSLF) (FRA: H1N), is pleased to
announce the launch of its next version Pocket Dimension
("
Pocket Dimension"). LGL's Pocket Dimension
metaverse is an online virtual space providing their owners and
users a virtual space represented by one of eleven different
environments including Archipelago, Countryside, Dale, Dunes,
Fjord, Marsh, Savanna, Tundra, Woodland, Zen, and Genesis Moon.
Each environment represents a unique representation of one of
Earth's ecosystems, as described in each environment's name. Users
of Pocket Dimension interact with other users through avatars. On
November 1, 2022, LGL launched the alpha version of Pocket
Dimension, followed by the launch of the beta version on February
21, 2023. The Company has followed up on the previous versions and
have launched its public release version of Pocket Dimension,
("
V1.0").
V1.0 addresses various animation, rendering,
collision, and build issues reported by users during the alpha and
beta versions. The latest version has made improvements to ensure
smoother gameplay and a more seamless experience. For a list of the
latest improvements, please refer to the Pocket Dimension release
notes at the following URL:
https://www.houseofkibaa.com/pocketdimension
Change of Director
The Company announces that Patrick O'Flaherty
has resigned from its Board of Directors. The Board of Directors
thanks Mr. O'Flaherty for his service to the Company. In his place,
LGL announces that Kevin Cornish has been appointed to the Board of
Directors.
Mr. Cornish is an international public company
CFO. With over 17 years of leadership experience in finance,
strategy, and operations, he is a well-rounded business management
leader. Mr. Cornish has worked on multiple start-ups and turn
arounds in both Canada and the United States. Mr. Cornish prides
himself on overcoming unsolved obstacles in numerous industries and
markets. His knowledge of international business practices and
successful strategy implementation paired with his ability to adapt
and scale quickly, make him a powerhouse in any endeavor. Mr.
Cornish holds an MBA from Saint Mary’s University in Halifax where
he also earned his CPA designation. Paired with his HR designation,
Mr. Cornish is skilled at incorporating many facets of business
into his role to maximize his overall value to a company.
Mr. Cornish has held not for profit, private and
public company board positions throughout his career and continues
to find opportunities where he can add value to companies through
their strategic direction and corporate governance.
ABOUT LOOKING GLASS LABS
Headquartered in Vancouver, British Columbia,
Looking Glass Labs ("LGL") specializes in consumer
engagement applications to leverage immersive metaverse
environments, play-to-earn tokenization and blockchain monetization
strategies. 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.
On behalf of LOOKING GLASS LABS
LTD.
"Dorian Banks"Dorian Banks, Chief Executive
Officer
For further information, please
contact:Dorian BanksToll-Free: +1 833 LGL-NFTX
(833-545-6389)Email: info@lgl.ioTwitter: @LGL_io
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 continued development of Pocket Dimension,
development of immersive metaverse environments, play-to-earn
tokenization and blockchain monetization strategies; pursuing
partnerships to monetize blockchain and Web3 opportunities; and the
near-term projects and future projects.
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 compete with other businesses in the NFT
market; the availability of sufficient funding to carry out the
Company's business development plans; favourable market conditions;
the ability of HoK to sell all or substantially all of its product
offerings; and the market acceptance for 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 and metaverse offerings by the consumer 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 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.
SOURCE: LOOKING GLASS
LABS LTD.