Metasphere Labs Inc. (formerly Looking Glass Labs Ltd.,
"Metasphere" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF)
(FRA: H1N), a leader in metaverse and Web3 strategies, and Pure Sky
Registry LLC ("Pure Sky"), an innovator in the Web3 Carbon Credit
Registry, have finalized their partnership to integrate blockchain
technology into environmental sustainability efforts. Following the
initial MOU dated March 27, 2024, Metasphere will develop an MVP to
fully integrate Pure Sky's carbon credit registry and DAO
operations.
Natasha Ingram, CEO of Metasphere,
emphasized the project's role in advancing blockchain for
environmental benefits and global sustainability.
Marty Seymour, Managing Director of
Pure Sky, noted, “This collaboration could potentially
revolutionize carbon credit management, enhancing platform
functionality and user experience. Digital ledger based carbon
credit tracking will be foundational to managing Scope 3 emissions
tracking.”
This initiative aims to transform the
environmental sector by making carbon credit transactions more
transparent, secure, and efficient, aligning with the trend of
tokenizing real-world assets for better tracking and verifiability.
Many top industry leaders agree with this vision; for example,
Larry Fink, CEO of BlackRock, has highlighted on several occasions
the transformative potential of such tokenization and the
significant economic opportunities in the carbon economy,
predicting that the world's first trillionaires will emerge from
climate change solutions1.
The solution will be delivered to Pure
Sky by July 1, 2024.
_____________1
https://decrypt.co/116145/blackrock-ceo-says-next-generationmarkets-is-tokenization
About Pure Sky Registry
LLC:
Operating as a DAO on an Ethereum L2
blockchain, Pure Sky focuses on certifying and tokenizing carbon
credits to promote environmental sustainability through
participatory governance and smart contract utilization.
About Metasphere Labs:
Based in Vancouver, British Columbia,
Metasphere Labs develops solutions for the metaverse, DAOs,
gamification, and Web3, addressing social challenges related to
climate change and aiming for a positive planetary impact.
For more information, contact Natasha
Ingram, CEO, at info@metasphere.earth.
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 development of an MVP to fully
integrate Pure Sky's carbon credit registry and DAO operations to
advance blockchain for environmental benefits and global
sustainability, the delivery of the MVP to Pure Sky by July 1,
2024, other open metaverse projects and the development of virtual
world 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, metaverse and blockchain markets; the availability of
sufficient funding to carry out the Company's business development
plans; favourable market conditions; 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, metaverse and blockchain
offerings; 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 digital 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.sedarplus.ca.
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.