Los Angeles CA, March 25, 2021 (GLOBE NEWSWIRE) — CurrencyWorks Inc. (“CurrencyWorks” or the “Company”), (TSXV: CWRK and OTCQB: CWRK) a financial technology blockchain pioneer and digital payments provider today announced that Barrett-Jackson has signed an exclusive agreement to launch VIN 001 sale series NFTs.
At its auction in Scottsdale, Arizona from March 20 – 27 Barrett-Jackson Auction Company will be creating the first NFTs for car collectors. Debuting in the first series, will be auctions and exclusive content of the sale of VIN 001 vehicles. The following 4 VIN 001 vehicles sold will comprise the first NFTs in this series.
These will include:
2021 Ford Bronco 2-Door VIN 001
2022 GMC Hummer EV Edition 1 VIN 001
2021 Ram 1500 TRX Launch Edition VIN 001
2021 Ford Mustang Mach 1 VIN 001
Along with being the first collectible car NFTs, further value-add unique features of the design of these NFTs will be automatic copyright registration with the United States copyright office, automated usage tracking, and license management for the NFT owner in addition to exclusive content, features, and benefits.
Established in 1971 and headquartered in Scottsdale, Arizona, Barrett-Jackson, The World’s Greatest Collector Car Auctions, is the leader in collector car auctions and automotive lifestyle events.
A pioneer in the NFT space, CurrencyWorks Collectibles NFT platform, and proprietary NFT payment platform includes unique features and capabilities to help drive value and the best user experience of the NFTs created and managed for its customers.
According to nonfungible.com, the NFT industry had a market capitalization of $338 million at the end of 2020.
“We have been the leader in collector car auctions since 1971,” said Craig Jackson, Barrett-Jackson Chairman and CEO. “An NFT collection of the sale of the VIN 001 charity cars is an exciting and natural evolution for our industry and just the start of how NFTs will be a part of the future of car collecting. NFTs have great potential for the collector car industry, as you can now own the VIN 001 car and could own the NFT of the incredible moment of that charity car selling for the very first time at Barrett-Jackson. The CurrencyWorks team is a pioneer in this space and we are looking forward to this new way for collectors to participate.”
“Barrett-Jackson is the industry leader in collector car auctions and we are very excited that they are partnering with CurrencyWorks to provide NFTs for the VIN 001 series and beyond,” said Cameron Chell, Chairman of CurrencyWorks.
CurrencyWorks Inc. (TSXV: CWRK and OTCQB: CWRK) is a publicly traded company that builds and operates FinTech Platforms for Digital Currencies, Digital Assets and Security Tokens.
Bruce Elliott, President
Disclaimer for Forward-Looking Statements
This news release contains “forward-looking statements.” Statements in this news 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, among other things: the statements relating to the proposal to create the first NFTs for car collectors; the statements relating to 4 VIN 001 vehicles; the statements relating to the value-add unique features of these NFTs; that NFTs have huge potential for the collector cards; that an NFT collection of the VIN 001 inventory is just the start of how NFTs will be a part of the future of car collecting; that Barrett Jackson Auction Company is partnering with CurrencyWorks to provide NFTs for Barrett Jackson Auction Company’s exclusive VIN 001 series and beyond; and the intention of Barrett Jackson Auction Company and CurrencyWorks to continue good faith negotiations to finalize a Definitive Agreement that would cover the transactions contemplated in the LOI
The material assumptions supporting these forward-looking statements include, among others, that Barrett Jackson Auction Company and the Company will enter into a Definitive Agreement with respect to the transactions contemplated under the LOI and complete the transactions as contemplated; that there will be no material variations in current regulatory environments in which the Company operates; the perceived benefits from the Company’s blockchain solutions will be as expected; and the Company will be able to obtain any necessary financing on acceptable terms. Although management considers these assumptions to be reasonable based on 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 parties will not enter into a Definitive Agreement as contemplated in the LOI or at all; the risk that the parties will not complete the transactions contemplated in the LOI; the risk that the Company will be unable to efficiently build the blockchain solutions; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete the blockchain solutions; the risk that the Company may not be able to obtain additional financing as necessary; the risk that there may be increases in capital and operating costs as a result of working on the blockchain solutions; the risk that the blockchain solutions may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain that make the blockchain solutions obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the blockchain solutions; the risk that other competitors may release similar blockchain solutions; and other general risks involved in the blockchain solutions.
Any of these risks may cause the Company’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Further, 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 that cause results, levels of activity, performance or achievements not to be as anticipated, estimated or intended. These forward-looking statements are made as of the date of this news release, and the Company assumes 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 the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. The Company does not assume any liability for disclosure relating to any other company mentioned herein.
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