SUCHGLASS LABS LTD.
PRESS RELEASE
Update introducing LGL’s Pocket Dimension Metaverse
Looking Glass Labs Celebrates Pocket Dimension Metaverse Assets Alpha Release With Positive Consumer Reviews and Platform Growth Ahead of Beta Release
Vancouver, British Columbia – December 5, 2022 /Cision/ – Looking Glass Labs Ltd. (“LGL” or the “Company”) (NEO: NFTX) (AQSE: NFTX) (OTC: LGSLF) (FRA: H1N), a leading Web3 platform specializing in non-fungible tokens (“NFT”) architecture, immersive metaverse environments, play-to-earn tokenization and virtual asset royalty streams, announces that it and its flagship studio House of Kibaa (“HoK”) have received positive reviews regarding its November 2, 2022 Release (the “Alpha Version”) of its Pocket Dimension Metaverse digital assets (the “Pocket Dimension”). Increased engagement on the company’s Twitter platform and positive reviews from users are proof of the success of the alpha version for both LGL and HoK. The company’s Metaverse is continually being developed to provide the highest resolution and most realistic experience technically available today.
The following stats show that the Pocket Dimension alpha version has increased the company’s organic user engagement and follower growth:
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An 18% increase in Q4 vs. Q3 in overall Twitter user engagement related to HoK;
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An 8% increase over the last 28 days and a 148% increase in November compared to October in Twitter likes of the company’s content;
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A 140% increase in Twitter replies to HoK content;
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A 180% increase in new Discord Twitter members on a weekly basis since the beginning of the campaign, which began on October 18, 2022; and
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A 7.5% increase in organic Twitter impressions over the last 28 days and reaching 65% of all October impressions since then November 1, 2022.
Positive user reviews of the Pocket Dimension alpha release were generally received on the following topics:
The story goes on
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The artistic and paradisiacal setting of the Metaverse;
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The quality of the metaverse; and
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The value of the metaverse compared to others.
background
The Pocket Dimension metaverse is a hyper-realistic digital world built with the latest version of the 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 private area of approximately 4 acres where parcels provide their owners with additional unique benefits such as – host system for playable characters and more. Landowners will also have access to a wider range of utilities that HoK will develop over time.
Management Comment
“As the Metaverse and NFTs continue to experience rapid growth, it is important for HoK to bring Pocket Dimension to users, which is what we set out to achieve with the Alpha release. The positive reviews that users have given so far encourage our team at LGL and we are thrilled that the alpha version has resulted in happy users and increased engagement on the company’s Twitter platform,” he said Dorian BanksCEO of LGL.
The directors of Looking Glass Labs accept responsibility for this announcement.
This notification contains inside information within the meaning of Article 7 of Regulation (EU) No. 596/2014 on market abuse.
“Dorian Banks”
Dorian BanksManaging Director
Twitter: @DorianBanks
For more information please contact:
Dorian Banks
Toll Free: +1 833 LGL-NFTX (833-545-6389)
Email: [email protected]
Twitter: @LGL_io
Website: https://www.lgl.io/
Novum Securities Limited, AQSE Corporate Advisor
David Coffman/ George Duxberry
Tel: +44 (0)207 399 9400
ABOUT SEARCH GLASS LABORATORIES
headquarters in Vancouver, British Columbia, Looking Glass Labs (“LGL”) is a Web3 platform specializing in non-fungible token (“NFT”) architecture, immersive metaverse environments, play-to-earn tokenization, and virtual asset royalty streams. 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 million, in addition to a 5% perpetual royalty stream on aftermarket sales. HoK plans to launch a hyper-realistic Metaverse in 2022 powered by the latest version of the Unreal Engine.
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.
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 complete Pocket Dimension development in a timely manner.
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.
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