Looking Glass Labs forms a strategic development partnership with Cavrnus to deliver a clear Metaverse innovation and commercialization strategy

Brands and developers have access to powerful, easy-to-use metaverse builder and deployment tools to create unique experiences using cutting-edge technology that takes the partnership, community and branded applications to the forefront of the industry

VANCOUVER, BC, December 19, 2022 /CNW/ – Looking Glass Labs Ltd. (“LGL” or the “Company”) (NEO: NFTX) (AQSE: NTFX) (OTC: LGLSF) (FRA: H1N), a leading Web3 platform specializing in immersive metaverse environments, play-to- Earn Tokenization and Blockchain Monetization Strategies, announces that it has signed a strategic development agreement (the “Agreement”) that forms the basis of a strategic development partnership (the “SDP”) with Cavrnus, Inc. (“Cavrnus”).

The main objective of the agreement is to co-develop immersive metaverse experiences for consumer brands by extending LGL’s Pocket Dimension metaverse by deploying it across multiple operating systems and mobile systems for improved user accessibility and providing a seamless, easy-to-use metaverse builder and deployment tool, which is expected to result in Pocket Dimension products being rapidly ported to other brands and partners.

The SDP leverages the complementary strengths of both parties to provide Web3 users with a comprehensive and seamless approach to metaverse engagements. To this end, the companies will share documentation and APIs and collaborate on go-to-market activities such as sales and marketing.

Cavrnus is a brand that aims to push the boundaries of creativity in the Metaverse sector. It provides brands like LGL with the versatility, stability and security to build and share immersive Metaverse experiences that inspire connection between users across space and time. Cavrnus is the leading provider of a scalable, security-centric, enterprise-class metaverse builder and deployment platform. In addition to its full-stack SaaS products, Cavrnus recently announced the Cavrnus Metaverse Connector™ plug-in for Unreal Engine, allowing UE developers to easily transform their application into an instant Metaverse experience. It is now available in a limited beta version. Cavrnus also has relationships with companies like Epic Games, AWS, Meta, and others as listed on their website. For more information about Cavrnus, visit https://www.cavrn.us.

Pocket Dimension is a hyper-realistic digital world built with the latest version of Unreal Engine to offer users a premium virtual experience. Each Pocket Dimension features one of eleven different environments, including Archipelago, Countryside, Dale, Dunes, Fjord, Marsh, Savanna, Tundra, Woodland, and Zen, as well as those mentioned above Genesis moon Environment exclusive to Genesis membership holders. Each environment provides users with different forms of utilities, including but not limited to hosting events with their community, integrating custom structures, and adding digital assets.

Pocket Dimension is a four-acre private space that owners can visit, invite friends, view NFTs, create settings, collaborate with others, or enable experiences through various utilities and uses. Packages offer additional unique benefits to their owners, such as blockchain-agnostics with extensive NFT (polygon, etheretc.), an extensive avatar system, a unique host system for non-playable characters, and more.

“We are delighted to be working with Cavrnus in this way. Their expertise complements ours and we expect the outcome of our joint alignment to be quite positive,” he said Dorian Banks, CEO of LGL. “In order to advance in the Metaverse sector, we believe that strategic relationships are critical, and we want to continue creating easy-to-use and fulfilling Metaverse experiences for Pocket Dimension owners,” added Mr. Banks.

ABOUT SEARCH GLASS LABORATORIES

headquarters in Vancouver, British Columbia, Looking Glass Labs (“LGL”) is a leading Web3 innovation platform specializing in customer engagement applications to leverage immersive metaverse environments, play-to-earn tokenization and blockchain monetization strategies. Its leading brand, House of Kibaa (“HoK”), designs and curates a next-generation metaverse for 3D assets, allowing functional art and collectibles to coexist in different NFT blockchain environments. HoK has successfully released digital assets including GenZeroes, which sold out in just 37 minutes and brought LGL total proceeds C$6.2 millionin addition to a 5% perpetual royalty stream on aftermarket sales.

LGL’s current investor presentation can be found at https://www.lgl.io/investors.
To join the LGL mailing list, please sign up using the following link: https://www.lgl.io/contact-us.

Commissioned by LOOKING GLASS LABS LTD.

“Dorian Banks“
Dorian Banksmanaging Director
Twitter: @DorianBanks

Forward-Looking Information

This press release contains “forward-looking statements.” Statements in this press 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, but are not limited to: the development of Pocket Dimension, the Company’s goal to become the leading digital studio specializing in NFT architecture, immersive metaverse design and monetization streams for virtual asset display; Intent to build a portfolio of perpetual NFT royalty through collaborations, accretive acquisitions and other arrangements to potentially result in consistent, low-risk and passive revenue; and the short-term projects and future projects.

Key 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 companies in the NFT market; the availability of sufficient funds to carry out the Company’s business development plans; favorable market conditions; HoK’s ability to sell all or substantially all of its product offerings; market acceptance for its products; and the ability to leverage the complementary strengths of Cavrnus and LGL to offer consumer-facing brands and early Web3 adopters a comprehensive and seamless approach to metaverse engagements.

Although management believes these assumptions to be reasonable based on the 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 consumer market acceptance of NFT and Metaverse offerings; the cost of developing and designing NFTs and metaverses is economically viable; the Company’s ability to attract and retain sufficient workforce with the desired skillset to develop the Company’s NFT and Metaverse offerings; the availability of offers provided by third-party providers in the NFT, Metaverse development and online gaming markets to identify potential transactions; the increasing adoption of NFTs as a solution for various online gaming, entertainment and collecting purposes; the company is able to mitigate the risks associated with the blockchain and NFT industry; and the ability to compete with other companies in the NFT, Metaverse development, content creation, and collectibles markets.

Although management believes these assumptions to be reasonable based on the 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 will not be accepted by consumers, the risk that other competitors may offer similar digital offerings; the risk that adverse changes in general economic and business conditions may occur; the risk that the Company will have negative operating cash flow and insufficient capital to complete the development of any of its technologies; the risk that the Company may not be able to obtain additional financing; the risk that capital and operating costs increase; the risk that NFT Technology may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain that render NFT solutions obsolete; risks related to regulatory changes or actions that may impede the development or operation of the blockchain solutions; the risk that other competitors will release similar blockchain offerings; the potential future unprofitability of the NFT market generally; the volatile cost of the computational effort required to perform certain operations on the blockchain and other general risks associated with the blockchain solutions.

Risks and uncertainties related to the Company’s business are discussed more fully in the Company’s disclosure materials, including its reports filed with Canadian securities regulators, which are available at www.sedar.com.

Any of these risks could cause the Company’s actual results, level of activity, performance or achievements to differ materially from any future results, level of activity, performance or achievements expressed or implied by these forward-looking statements. In addition, 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 affecting results, levels of activity, performance or achievements that are not as expected, estimated or intended. These forward-looking statements are made as of the date of this press release, and the Company undertakes 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 of the securities laws of The United States and Canada. Although the Company believes that all beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be correct. The company assumes no liability for disclosures relating to other companies mentioned herein.

SOURCE Looking Glass Labs Ltd.

For more information: Dorian Banks, toll-free: +1 833 LGL-NFTX (833-545-6389); E-mail: [email protected]; Twitter: @LGL_io

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