Metasphere Labs Inc. (formerly Looking Glass Labs
Ltd., "
Metasphere" or the
"
Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA:
H1N) is proud to announce an initiative to develop a pioneering
bitcoin-based identity system, leveraging the "Spaces Protocol" to
enable decentralized digital identities. This system uses Bitcoin's
infrastructure to offer a scalable and permissionless identity
framework, enhancing online authenticity and security.
Combatting AI-Driven Spam and
Disinformation
In response to the
growing challenge of AI-driven spam and disinformation,
Metasphere's new system aims to authenticate real human and
multimedia interactions. This initiative is a key step toward
ensuring the integrity of online content and communications.
Exclusive Licensing
Negotiations with Bot Ventures Inc.
Metasphere is
currently in exclusive negotiations to license this platform to Bot
Ventures Inc. (“Bot Ventures”), a pioneer in the
chatbot industry known for its directory and verification service,
botpages.com. Bot Ventures plans to sunset its existing platform
and develop a new decentralized identity and certification layer
for the Internet, utilizing the tools created by Metasphere. This
collaboration represents a significant advancement in creating a
secure, decentralized digital ecosystem.
Natasha Ingram, CEO of
Metasphere stated, "Our potential partnership with Bot Ventures
would mark a pivotal moment in our mission to secure digital
identities. By combining our innovative technology with Bot
Ventures' industry leadership, we would be setting new standards
for online authenticity and trust."
A Decentralized Solution for
Digital Security
Acting as a
decentralized certificate authority, Metasphere's system
facilitates secure digital identities and transactions. This
approach mitigates the risks associated with centralized control,
offering a robust solution for digital content authentication and
online interaction verification.
Leveraging Bitcoin for
Enhanced Security
By building on the
secure and scalable infrastructure of Bitcoin, Metasphere is at the
forefront of enhancing online security and user authenticity. This
initiative underscores the company's commitment to leveraging
cutting-edge technology for a more trustworthy digital future.
ABOUT METASPHERE
LABS
Headquartered in
Vancouver, British Columbia, Metasphere develops metaverse
environments, DAO solutions, gamification, and Web3 / blockchain
monetisation strategies aiming to solve social coordination
problems for acting on climate change and making a positive impact
on the planet.
Metasphere specializes
in developing innovative technologies that address the challenges
of the digital age. Through the power of blockchain and other
advanced technologies, Metasphere aims to create a safer, more
transparent digital world.
For further information,
please contact:
Metasphere Labs Inc.Natasha Ingram,
CEOEmail: info@metasphere.earth
Forward-Looking
InformationThis 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 bitcoin-based identity system
initiative, open metaverse projects and 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.
SOURCE:
METASPHERE LABS INC.