June 09, 2022 07:30 ET | Source: Immutable Holdings Inc. Immutable Holdings Inc.
Vancouver, British Columbia, CANADA
NFT.com Collects USD $6.5 Million in Net Initial Sales from its Genesis Key Sale and Don Thibeau Joins as Chief Product Officer of Immutable Holdings
VANCOUVER, British Columbia, June 09, 2022 (GLOBE NEWSWIRE) — Immutable Holdings, Inc. (NEO:HOLD) (“Immutable Holdings” or the “Company”), a publicly-traded blockchain holding company, is pleased to announce the appointment of Don Thibeau as Chief Product Officer, effective June 8, 2022. Thibeau will report to Chief Executive Officer Jordan Fried and will oversee product strategy and development, including at NFT.com.
Previously, Thibeau was the Co-Founder and Chief Strategy Officer of the HBAR Foundation. He has also held senior product and business management roles at Hedera Hashgraph and IBM. His contract with the Company includes stock options under the Company’s employee compensation plan amounting to 1% of present outstanding, as-converted subordinate voting shares, vesting over a four-year period. Jeanna Liu, Chief Operating Officer, will be leaving the Company.
The NFT.com Genesis Key Sale
The Company is also pleased to announce that the NFT.com Genesis Key sale, including the previously-announced whitelist auction and subsequent public release, has thus far generated over USD $6.5 million in net initial sales.
NFT.com is operated by The NFT Company, Inc., a wholly-owned subsidiary of Immutable Holdings. Substantially all sale proceeds, collected in Ethereum (“ETH”), have been converted to either US dollars or dollar-pegged USD Coin (“USDC”), following collection.
NFT.com Genesis Keys represent a collection of animated non-fungible tokens (“nft’s”), each of which allows early access to the platform, creation of four NFT.com profiles (for example, NFT.com/YOU), and the chance to provide feedback to help shape the future of the project. 5,000 of the 10,000 Genesis Key collection were made available for sale at NFT.com, with the remaining 5,000 locked in treasury for at least 6 months.
Roughly 1,300 Genesis Keys remain available for sale at NFT.com. Additionally, Genesis Keys and the NFT.com Profiles they create may be purchased or sold on secondary marketplaces such as OpenSea and LooksRare. Sales made on these platforms are subject to up to a 7.5% royalty. The Company has already started to collect revenues in this regard.
NFT.com is a Web3 Community-Driven NFT ecosystem. For more information or regular updates, visit www.nft.com, follow on Twitter at @NFTcomofficial, or join the discussion in Discord at www.nft.com/discord.
About Immutable Holdings Inc.
Immutable Holdings Inc. (NEO:HOLD), is on a mission to democratize access to Web3 and blockchain-based products and services. Founded by Jordan Fried, a founding team member of multi-billion dollar Hedera Hashgraph network, Immutable Holdings already boasts tens of millions under management and a portfolio of businesses and brands built on the blockchain ecosystem, including NFT.com, Immutable Asset Management, and 1-800-Bitcoin. To learn more, visit https://immutableholdings.com/.
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This news release contains certain statements which constitute forward-looking statements or information under applicable Canadian securities laws, including with respect to NFT.com, Genesis Keys, the Genesis Key Whitelist Blind Auction, and the Genesis Key Public Sale (including without limitation, the anticipated use of net proceeds therefrom and the timing and sale of the remaining Genesis Keys), and the purchase and sale of Genesis Keys and the profile NFTs they create on secondary NFT marketplaces and the Company’s ability to generate and collect royalty revenues therefrom. Such forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors, some of which are beyond the Company’s control, which could cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. These risks and uncertainties include changes to applicable laws or the regulatory sphere in which the Company operates, general economic and capital markets conditions and stock market volatility. Although the Company believes that the forward-looking statements in this news release are reasonable, they are based on factors and assumptions, based on currently available information, concerning future events, which may prove to be inaccurate. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.