VANCOUVER, British Columbia, March 24, 2022 (GLOBE NEWSWIRE) -- GameOn Entertainment Technologies Inc. (“GameOn” or the “Company”) (CSE: GET) (OTCQB: GMETF), a leading NFT game technology company partnered with the world’s biggest IPs to launch, operate and monetize NFT-based games, has today announced a partnership with immersive content pioneer, Tetavi, for a first-of-its-kind NFT music discovery game.
Established in 2016, Tetavi is a new media, technology company and the leader in volumetric video capture. Tetavi uses cutting-edge volumetric video technology and proprietary algorithms built on thousands of hours of machine learning to create next generation photorealistic digital content and immersive experiences. Their mission is to enable connection, self-expression, and creativity in the Metaverse and Web3.
Through the partnership, GameOn and Tetavi will enable everyday fans to build their own record label via undiscovered artist NFT investments. The game will leverage GameOn’s underlying blockchain capabilities, which allow the ability to mint music-based NFTs and ultimately provide fans the opportunity to invest in the world’s next generation of artists, receiving royalties for streams in perpetuity. The partnership signals GameOn’s largest contract to-date. GameOn’s generated and booked revenue across 2022 and 2023 now totals more than $1,000,000 with an expected gross profit of 80%, not including revenue share arrangements, and with millions more in-contract or in the pipeline.
As part of GameOn’s broader initiative to expand its footprint within the NFT ecosystem, GameOn expects to capitalize on all avenues of its NFT partnerships which include, but are not limited to: upfront setup fees, recurring monthly license fees, and revenue share from the initial mint of NFTs and ongoing secondary sales of NFTs. With partners like Chibi Dinos and now Tetavi, the Company continues to leverage this tailwind with its growing portfolio of NFT game partnerships.
“Tetavi is one of the few pioneers within the immersive entertainment space, and we are confident that this partnership will mutually benefit both organizations,” said GameOn CEO Matt Bailey. “Providing the technology to develop an NFT game is right in our wheelhouse, and we are thrilled to be building the very first NFT music discovery game. At GameOn, we understand the magnitude of the expanding total addressable market for NFTs and the broader Web3 ecosystem, and we intend to leverage our technology to maximize the utilization of NFTs and grow our top line. We look forward to the launch of our newest product providing music fans the ability to invest in upcoming artists and receive royalties through NFTs.”
"We are extremely delighted to partner with GameOn on a product that is at the intersection of Music, Gaming, NFTs, the Metaverse, and experiences using volumetric capture technology. We’ve assembled a team of the freshest minds in tech and music to develop a product built on the promise of Web3. Through this product we are able to help musicians unlock new paths to revenue, give them more control over their music, and bring fans closer to their favorite upcoming artists more than ever before," said Gilad Talmon, Tetavi CEO.
Corporate Contact:
Matt Bailey
Director & Chief Executive Officer
GameOn Entertainment Technologies Inc.
917-834-4921
Investor Relations Contact:
Gateway Group, Inc.
John Yi
GET@gatewayir.com
949-574-3860
ABOUT GAMEON ENTERTAINMENT TECHNOLOGIES INC.
GameOn (CSE: GET) (OTCQB: GMETF) partners with the world’s biggest sports, media, and entertainment companies to launch brand-building, money-making NFT-based predictive and fantasy games. We turn fans into superfans - engaging, retaining and monetizing audiences, and participating in the entire economic cycle of NFT games. With a diverse team of Web3, gaming, sports, and media veterans from companies like Take-Two Interactive, EA, Dapper Labs, BSE Global, and Madison Square Garden, GameOn works with broadcasters, TV networks, streaming platforms, leagues, tournaments and sportsbooks to launch and operate best-in-class NFT games. Partners include global companies such as NBCUniversal, Bravo and MX Player.
ABOUT TETAVI LTD.
Tetavi powers the infinite expression of your digital self through awe-inspiring immersive content for the virtual world. Tetavi sits at the nexus of technology, entertainment, and content creation. We use cutting-edge volumetric video technology and proprietary algorithms built on thousands of hours of machine learning to create the next generation of digital content and immersive experiences for the Metaverse and Web3. Our mission is to enable connection, self-expression, and creativity through photorealistic shareable digital content.
Tetavi currently operates studios worldwide, and is commercially active in the U.S., Europe, Middle East and APAC.
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could," "estimates," "expects," "forecasts," "projects" and similar expressions, and the negative of such expressions. All statements other than statements of historical facts contained in this news release are forward looking statements. Forward-looking information in this news release includes, without limitation, statements regarding the future plans and objectives of the Company, execution of business strategy, future performance and future growth, business prospects, synergies and opportunities of the Company and its related subsidiaries, and other factors beyond the Company’s control.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made, including, but not limited to the Company being able to capitalize on the acquired assets, the ability of acquired assets to maintain its value as presently contemplated, the synergies of the acquired assets with the Company’s operations, and such other assumptions presented in the Company’s disclosure record. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and GameOn disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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