BIGG Digital Assets Inc. Portfolio Company TerraZero Acquires 185-Parcel Estate of Virtual Real Estate in Decentraland, Valued at Approximately USD $2,775,000, to Build Massive Entertainment Destination in the Metaverse
VANCOUVER, British Columbia, March 07, 2022 (GLOBE NEWSWIRE) — BIGG Digital Assets Inc. (“BIGG” or the “Company”)(CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), owner of Netcoins (Netcoins.ca) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, and owner of Blockchain Intelligence Group (blockchaingroup.io) (“BIG”), a leading developer of blockchain technology search, risk-scoring and data analytics solutions, is pleased to announce that its portfolio company TerraZero (“TerraZero”) has acquired one of the most significant estates in Decentraland to build the premiere entertainment destination in the Metaverse. The company envisions that this destination will include immersive experiences like virtual concerts, film screenings, shopping, cultural and educational experiences.
In addition, TerraZero announces that renowned technology executive and Decentraland entrepreneur and district leader, Mr. Carl Fravel, has joined the Company as a strategic advisor. Effective immediately, Mr. Fravel will bring his Metaverse strategy and execution expertise to TerraZero’s growing portfolio of products and services, including its Metaverse Studio used for builds and deployments across Metaverse worlds.
As part of the new partnership, Mr. Fravel sold a portion of his personal collection of prime strategic virtual real estate, 185 parcels in total, which he has held since the launch of Decentraland, for a combination of shares and cash from TerraZero. The 185-parcel estate has an estimated market value of approximately US$ 2,775,000[1]. Mr. Fravel sees this transaction as a watershed moment for business and ecommerce in the Metaverse. He commented:
“I see the Metaverse in the early stages of a paradigm shift to deep substance – major entertainment, highly functional real estate, Web3 commerce, experiential advertising, education, telemedicine, and entirely new use cases. The opportunities within the Metaverse of benefit to humanity are endless and I can’t wait to help support and grow TerraZero, a company whose vision, leadership and ethics I have greatly admired. I am thrilled to be a significant shareholder of TerraZero and I am excited to watch the future of the Metaverse unfold.”
Since its formation in 2017, Mr. Fravel has acted as key advisor and district leader for Decentraland, develops and enhances the Decentraland Conference Center (http://dclconf.com) as its founder, supports various official Decentraland districts like Aetheria, Virtual Reality Shopping, Decentraland University and Chobury as member of their district leadership teams, and was appointed as Chancellor of Decentraland University.
TerraZero intends to build a massive cityscape across part of the 185-parcel expanse – which may be one of the largest undertakings across the Metaverse. TerraZero’s Chief Metaverse Officer, Ryan Kieffer, has hosted and built some of the largest and most successful Metaverse events, including the first live music festival. With TerraZero taking on its185-parcel acquisition from Mr. Fravel, Ryan Kieffer has big plans for the virtual land:
“The Metaverse will be about creating immersive spaces where people can do everything they enjoy in the real world, but in the virtual world. We want to build a city-like environment akin to Epcot or Universal Studios where users can start exploring in the morning, and go until the end of the night without even scratching the surface of what is possible. Excursions, shopping, concerts, film premieres, museums, attractions—it all needs to be there and larger than life.”
Dan Reitzik, Blockchain-veteran and CEO of TerraZero, states:
“Our Company and the whole team is really honored to include such impressive Decentraland entrepreneurs like Carl Fravel and Ryan Kieffer on our team. Together with Carl Fravel’s wisdom and direction from Ryan Kieffer, TerraZero will focus on creating state-of-the-art solutions to further enhance the scope of what is possible in the Metaverse, for the creation of thriving new economies and impressive user experiences that will shape the implementation of Web 3.0 and create a better future for all.”
[1] Based on the current average estimated cost of US$15,000 per parcel in Decentraland
On behalf of the Board
Mark Binns
CEO
ir@biggdigitalassets.com
Investor Relations
Victoria Rutherford
Victoria@adcap.ca
T: 1.480.625.5772
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG has three portfolio companies: Netcoins (netcoins.ca), Blockchain Intelligence Group (blockchaingroup.io) and TerraZero (terrazero.com).
Blockchain Intelligence Group builds technology to power compliance and intelligence for the crypto future. Banks and crypto companies depend on our technology to monitor risk from crypto transactions. Investigators and law enforcement quickly identify and track illicit activity. Blockchain Intelligence Group is trusted globally by banks, crypto companies, law enforcement, fintechs, regtechs and governments.
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified® software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.
TerraZero is a vertically integrated Metaverse development group and leading Web 3.0 technology company specializing in the Metaverse space. The Company’s Metaverse agnostic vision is to develop, acquire, and finance the Metaverse’s most promising companies, entrepreneurs, and developers. TerraZero also owns digital real estate and provides offices and services to those interested in the Metaverse. Furthermore, TerraZero acquires, designs, builds, and operates virtual assets and solutions to monetize the Metaverse ecosystem. The Company’s businesses are segmented into five (5) divisions which include: (1) virtual real estate; (2) advertising; (3) data analytics; (4) events and marketing; and (5) infrastructure. TerraZero aims to support the community, foster innovation, and drive adoption.
Forward-Looking Statements:
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
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