Backstageplay Announces Addition to Its Upstage Token Advisory Team and Update on Token Development
Vancouver, British Columbia--(Newsfile Corp. - March 15, 2018) - Backstageplay Inc. (TSXV: BP.H) (the "Company") announced today the appointment of Mr. Les Borsai as an Advisor to its blockchain initiative currently in development in conjunction with its partner Hexbite Labs Inc.
Les Borsai spent the first decade of his music and entertainment industry career focused on touring and artist management. Over the past ten years, he has become a leading digital music entrepreneur focused on mobile, apps and games development, founding both gridMob and Songlily, and completing licensing and similar arrangements with EMI, Sony/ATV, Universal Music Publishing Group, Disney Music Group and Warner/Chappell.
"With music and gaming being at the cornerstone of my consulting practice over the last couple of decades, I'm intrigued with Backstageplay's crypto-currency model and acknowledge that there is nothing like it in the music industry today," said Les Borsai, "I am familiar with the deep connections that the Backstageplay team have developed within the music industry and am impressed with both the gamification system they have created and the rationale for adding their Upstage token as an innovative way for Artists to reward fan participation. I look forward to sharing the connections I have developed over my career who will assist the Company build, launch and promote its Upstage token."
Over the past 36 months, Mr. Borsai has narrowed his consulting practice into the blockchain where he has provided marketing, business development and consulting services to leading blockchain companies at various stages of their development. Some of his clients include Ripple, RightMesh, Props Project, Streame and YouNow. Mr. Borsai also provides general business development and executive consulting services to other multinational customers such as Zynga, Shazam, Giphy, Allihoopa and Membran Entertainment Group.
Backstageplay offers a disruptive new fan club tool, which gives Artists a more personal way to interact with their fans through gamification. As part of the recipe to extend and enhance fan status and loyalty, the Company embarked on the creation of a companion software platform, which uses blockchain technology, in an effort to enhance the way recording Artists and their legion of fans interact. By adding utility tokens into the Backstageplay rewards model, fans will now have the ability to earn valuable Upstage tokens alongside their experiencial points, which will be generated by fan activity within the Backstageplay system.
The Upstage token platform is in month two of its development and it is anticipated to soft launch in mid-April 2018. The Upstage token will carry a value within the platform, giving fans the option of using it towards extended game play, leaderboard jumps, exclusive artist access, live events, and much more. The Company intends to list the Upstage token on several soon to be named crypto-currency exchanges where it will be exchangeable by fans. It is also presently pursuing provisional patent protection on certain proprietary methods and systems, which are associated with its blockchain initiative.
"We are excited to have Les onboard as an advisor to our executive and development teams," said Scott White, Backstageplay's CEO. "He truly has a unique combination of music, gaming and blockchain experience, which will empower Backstageplay with access to leading crypto currency contacts, crypto funds, influencers and partners in music and entertainment circles once the platform is launched. I am also pleased to advise that we, and our partners at Hexbite Labs, have significantly advanced the development of the important details surrounding the way in which the utilization of our Upstage token will occur within our system," continued Mr. White, "This includes how the platform we are creating will be integrated into our Backstageplay system, how fan usage will generate fractional tokens, and how those tokens will create value for fans, Artists and the Company."
For further information please contact:
Scott White, CEO
+1 (416) 704-6611
Neither the TSX Venture Exchange nor IROC accepts responsibility for the adequacy or accuracy of this release. All statements in this news release, other than statements of historical facts, are forward-looking statements and such forward looking statements represent managements current beliefs with respect to the business of the Company and may not be achieved. The Company expressly disclaims any intention update or revise any forward-looking statements. This news release is not an offer to sell or solicitation to sell securities in the United States. The Company's securities will not be registered under the United States Securities Act of 1933, as amended or any state securities laws.