JZZ Technologies, Inc. Enters into Agreement to License Up To 12 million NFTs from its Film, TV, and Video Content for Digital Marketing
Anderson, South Carolina--(Newsfile Corp. - May 3, 2022) - JZZ Technologies Inc. (OTC Pink: JZZI) has entered into a purchase agreement whereby Databoss Inc. of North Brunswick, New Jersey will purchase the non-exclusive NFT (Non-Fungible Token) license / production rights to up to 12 million NFTs of video content owned and/or licensed by JZZ Technologies, Inc.
Databoss Inc. has agreed to pay JZZ Technologies $1,200,000 for the license / production rights payable in Shubh Coin, a cryptocurrency developed and launched by Neel Sawant and Databoss, Inc.
An NFT is widely defined as a digital asset that represents real-world objects like art, digital works, and videos. They are bought and sold online, mostly using cryptocurrency. NFTs are generally encoded with the same underlying software as many cryptos using blockchains. NFTs are also designed as one of a kind, or one of a very limited runs, each identified by a unique code.
The market for NFTs reached $41 billion in 2021, nearly matching the total value of the entire global fine art market.
The content to which JZZ Technologies has rights, pursuant to agreements, includes a variety of images, movie stock, TV stock, out takes, and B-Roll footage. In all, the raw footage accounts for over 1 million images from video and stills, each of which can be artistically produced into numerous NFTs.
NFTs can vary in value from a few dollars to many thousands or more. JZZ Technologies Inc. plans to create over 5 million NFTs from this material and market them through their online database of 30+ million seniors, and through social media channels.
"This is the first of what we plan as a major content licensing agreement in the entertainment industry," states Charles Cardona, CEO of JZZ Technologies. "We plan to use the sale of NFTs to generate significant revenue for the company on an ongoing basis. It's a natural revenue stream for us, employing our digital marketing to sell NFTs based on this potential wide array of content."
About Databoss, Inc.
Databoss Inc., uses its unique combination of data-driven decision systems and experienced experts to identify and facilitate investments in high-potential profit oriented, yet responsible companies. It focuses on providing value through sustainable technologies with applications in cleantech, health tech, and other emerging technologies.
About JZZ Technologies, Inc.
JZZ Technologies, Inc. is a diversified technology company engaged in the following three distinct business sectors: (i) its digital media business which includes online media and apps (activelifestylemedia.com), content creation, and digital marketing, targeted to active adults 55+, (ii) strategic biotechnology and bioscience related to Human Life Extension and (iii) Human Longevity that can be immediately leveraged to support improved quality of life for the senior population.
DISCLAIMER and FORWARD-LOOKING STATEMENTS
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward-Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the Company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; and the volatility of the Company's operating results and financial condition. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct. Investors are cautioned that actual results may differ materially from the anticipated results.
JZZ Technologies, Inc.
Charles Cardona, CEO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122564