After two IEO rounds on the Probit exchange, the NUVO token will be listed on the Probit exchange starting on Monday, June 24, 2019. The Nuvo blockchain network has also recently introduced its third social community in just its sixth month of operation, with a fourth network set to launch in the near future. Additionally, applications for witnesses on the Nuvo blockchain network are presently being accepted. Witnesses will be added beginning when a new version of the Nuvo blockchain’s software becomes available on Friday, July 26, 2019.
Vancouver, British Columbia–(June 21, 2019) – METAVERSE CAPITAL CORP. (CSE: FORK) (OTC Pink: GBCHF) (“FORK” or the “Company”) is pleased to announce that the listing date for the NUVO token has been finalized, following the conclusion of its sale initiatives. The NUVO token is the proprietary digital asset of the Nuvo blockchain network, a platform on which decentralized, censorship-resistant social communities and communication applications can operate. The Nuvo blockchain network was founded by UK-based technology firm Nuvo Cash Ltd. (“Nuvo Cash”) with an objective of leveraging blockchain technology to deliver engaging and unbiased social media experiences to regions which are affected by social and political restrictions such as censorship.
In a press release dated December 13, 2018, FORK announced it had been commissioned by Nuvo Cash to assist in developing the Nuvo blockchain network, and to administer sales for the NUVO token. In April and May, the NUVO token was made available to purchasers in a two-round Initial Exchange Offering (IEO) on the South Korean cryptocurrency exchange Probit (http://probit.com). Following the conclusion of the second and final IEO round, the NUVO token will be listed on Probit starting on Monday, June 24, 2019, with deposits for NUVO tokens being accepted as of today.
The NUVO token has a primary purpose of determining influence on the Nuvo blockchain network, based on a user’s commitment to the network. Social communities on the Nuvo blockchain network deliver a unique value to users by paying them NUVO tokens from a reward pool in exchange for actions such as posting and sharing content, as well as voting and commenting on content. By issuing these rewards, users are incentivized to post and curate high-quality content, as well as to provide feedback on content through methods such as voting. This feedback has the effect of filtering content by enabling relevant postings to gain visibility, and unfavourable postings (e.g. irrelevant content, fake news) to be “voted out”.
As NUVO tokens will be earned based on the value of a user’s input, a user’s NUVO token balance will represent their dedication to the network either by way of effort (i.e. posting high-quality content and voting) or investment (i.e. making a financial commitment by purchasing NUVO tokens). This dedication is rewarded in kind with a proportionate level of influence. That is, the power of a user’s vote is directly tied to their holdings of NUVO tokens. As the Nuvo blockchain grows in usership, this influence can increase in value.
The NUVO token’s value proposition is explained in depth in the “What gives NUVO tokens value?” section of the Nuvo blockchain whitepaper, which may be accessed at the following link: https://jamaa.com/docs/whitepaper
As of this writing, there are three active social communities on the Nuvo blockchain network:
At a later date, Nuvo Cash is also planning on launching Tambay, a social community for users in the Philippines.
Additionally, the Company has an agreement with Cannadex Labs Inc. (“Cannadex”) in which FORK is to delegate the totality of its NUVO token holdings to Cannadex for a period of five years in exchange for 25% of Cannadex’s equity. Cannadex founder Steven Dryall played a key role in developing the Nuvo blockchain network. It was announced on May 6, 2019 that Cannadex has plans to develop a spot exchange for commodities (the “Cannadex Exchange”) on a variant of the Nuvo blockchain network known as “Nuvo 2.0”. As of June 12, 2019, Cannadex Exchange remains on track to be launched in Q4 of 2019.
For network participants who are interested in operating witnesses on the Nuvo blockchain network, a new version of the Nuvo blockchain’s software will be made available on Friday, July 26, 2019, at which point new witnesses will be able to begin operating on the network. Interested parties may begin the application process at the following link: https://docs.google.com/forms/d/e/1FAIpQLSc8iKZO4oGeo6dqw3ecamtz8625ZD17dQGnFZyudTl68a-gHw/viewform
FORK President and CEO Shidan Gouran commented, “Ever since we partnered with Nuvo Cash, we have always known that blockchain and crypto can do great things for social media networks. Now that Facebook has officially announced its Libra cryptocurrency, this validates that notion in a very significant way; though social communities on the Nuvo blockchain will deliver much greater value to users. We thank all NUVO token purchasers for their participation in the IEO, and we look forward to bringing the Nuvo blockchain network into its next phase with the NUVO token’s listing on the Probit exchange this coming Monday.”
On behalf of the Company:
Shidan Gouran, President and CEO
For more information please contact:
Metaverse Capital Corp. Investor Relations
About Metaverse Capital Corp.
With blockchain technology rapidly re-shaping the models of many companies, industries, and their business processes, Metaverse Capital Corp. (“FORK”) places a focus on the common needs of early-stage blockchain adopters. Originally founded with a focus on crypto-mining, FORK has recently diversified its offerings by placing an emphasis on professional services such as developing and administering launches of tokens and digital assets. Adapting to changes in blockchain technology, FORK is also now utilizing its computing power to provide consensus services, such as the operation of masternodes, servicenodes, and witnesses which are alternative methods to cryptocurrency mining for generating and acquiring digital assets. Investors, through their investment in the Company, are provided with exposure to these tokens, cryptocurrencies and digital assets without the lengthy, and complicated process that interested investors must ordinarily undergo in order to gain exposure to these cryptocurrencies and digital assets.
The Company is listed on the Canadian Securities Exchange (“CSE”) and its common shares trade under the ticker symbol “FORK”. Additional information relating to the Company is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com as well as on the Company’s website at: www.metaverse.capital
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