- BlockMint intends to participate in upcoming NFT auctions hosted by Sotheby’s, NBA Top Shot, OpenSea and others.
- The Company aims to build a portfolio of NFTs, representing various digital assets from multiple genres, including art, sports, music, etc.
Vancouver, British Columbia–(Newsfile Corp. – March 29, 2021) – BlockMint Technologies Inc. (TSXV: BKMT) (“BlockMint” or the “Company”) (www.blockmint.ai) announces that it plans to participate in upcoming auctions of non-fungible tokens (NFTs) hosted by Sotheby’s, NBA Top Shot, OpenSea and others. BlockMint aims to acquire NFTs from multiple genres (including art, sports, music, etc) to create a diverse portfolio of NFTs in support of the upcoming release of an upgraded version of its distributed crypto-miner browser “Minter” that will have a new feature which will allow users to exchange their earned cryptocurrency for a fractional ownership in a NFT from the BlockMint portfolio. The current version of Minter is available to download at getminter.com.
BlockMint’s CEO Nelson Ijih commented: “We designed Minter with the underlying philosophy that everyone should be able to participate in the crypto-economy. Minter’s new NFT feature, coupled with the Company’s NFT portfolio, will allow users to participate in the exploding demand for NFTs. Users will be able to choose to either reduce their carbon footprint or participate in the rapidly emerging market for NFTs.“
A non-fungible token (NFT) is a unit of data on a blockchain where each NFT can represent a unique digital item and thus they are not interchangeable. NFTs can represent digital files such as art, audio, video and other forms of creative work. While the digital files themselves are infinitely reproducible, the NFTs representing them are tracked on their underlying blockchains and provide buyers with proof of ownership. Demand and interest in NFTs have exploded in recent months. The purpose of implementing NFTs when selling or acquiring digital art, videos or music is that blockchain technology gives the purchaser certainty that the piece is authentic and provides ownership.
Once released, the upgraded Minter browser will allow users to use their spare computing power to mine cryptocurrencies to earn either: (i) carbon credits to help offset their carbon footprint; or (ii) fractional ownership in a NFT. The browser has a user-friendly, built-in dashboard where a user can control the amount (if any) of computing power on his/her computer that will be used for mining to earn carbon credits and/or fractional ownership in a NFT . Users bear all mining costs associated with the computing power on their device (electricity costs of operating the user’s device) but will benefit by receiving the carbon credits or fractional ownership of a NFT that was earned based upon the amount of cryptocurrencies mined with their device. BlockMint will earn a margin on the purchase of the carbon credits or NFTs.
The updated version of Minter is expected to be available for download in late April 2021 for use on desktops and laptops with a Windows operating system. Support for additional operating systems (MacOS, Linux) will be added later this year.
In addition, the Company continues to evaluate the possible acquisition of hardware to mine cryptocurrency in-house and augment the cryptocurrency earned via its distributed Minter software app.
About BlockMint Technologies Inc.
BlockMint, through its wholly owned subsidiary, Blockmint (USA) Technologies Inc., develops distributed systems and networks that enable a more decentralized deployment of blockchain based applications such as cryptocurrency mining.
On behalf of
BLOCKMINT TECHNOLOGIES INC.
Nelson Ijih, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the business strategy and objectives of BlockMint, building a NFT portfolio, new features of its Minter browser and expected timing on the release of updates to its Minter browser. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. There is further no assurance that the Company will be successful in developing, commercializing or profitably operating its new business in the manner described. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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