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SOMERVILLE, N.J., Nov. 15, 2021 (Globe NEWSWIRE) — by means of InvestorWire – Worldwide Fiber Systems, Inc., (OTC PINK: GFTX) through its subsidiary Reliable Heroes, Inc., these days declared that it has entered into a Letter of Intent to in the beginning produce a joint enterprise with Maestro Entertainment, Corp and use their holding business to initially license Maestro’s new music catalog of 10,000+ masters recordings and also leverage Maestro’s business relationships to develop additional opportunities for the combined venue.
The transaction will bring a synergy amongst the firms that will to begin with create and offer Non-fungible “Audio Tokens” and Vinyl records to be marketed possibly individually or bundled jointly. The Corporation believes the joint undertaking will create both a physical and digital footprint while establishing a new report label.
The relationship will also give us connectivity to a digital multi-media recording studio, highly skilled seem engineers in a 5000 sq. foot facility in Knoxville, TN. This will give us the capacity to work with up to date artists to produce primary audio recordings as very well as the means to digitally remaster older recordings. It will also offer us the capacity to create video and animation production, and other entertainment linked streaming services for net based content distribution and solution advertising and marketing.
The Company believes that the transaction will be the cornerstone of the Genuine Heroes business enterprise model for developing streaming tunes NFTs and music bundles, that not only gain Authentic Heroes and Maestro, but also gain the artists through a 501 (c) foundation to be designed.
Chris Giordano, President and Chairman of Global Fiber Technologies said: “Having common recordings and turning them into collectible “NFT bundles” that contain both an NFT and remastered Vinyl albums is how each get-togethers glance to deliver to marketplace a distinctive value package for the collector neighborhood. We further that by giving collectors the provenance and immutability on our blockchain that will maintain their worth and rightful ownership.
Whether or not it be for keepsake or resale we believe that that our NFT blockchain and “auction website” will be an additional worth add for the collector as nicely as a earnings generator for anything we create. NFTs, Vinyl Records, New Recordings and our Authentic Heroes “re-animated” outfits collection will all have entry to our soon to be finished auction site
Each functions have agreed in basic principle to the general strategy and are working to finishing the transaction potentially by yr conclude 2021 and creating the finest possible value for GFTX stakeholders.
The Corporation is also exploring the chance of releasing Minimal Version NFTs or NFT Bundles for the 2021 Xmas holiday break year, if time makes it possible for for the progress of this kind of venue through discussions we are possessing with a media marketing enterprise for the development of and distribution of an infomercial to be made use of to market pieces of the Maestro catalog joint venture.
We glimpse ahead to keeping you apprised as we finalize our collaboration with Maestro Amusement.”
www.globalfibertechnologies.com
About Maestro Leisure Corp:
Established in 2003. Due to the fact 2003 the Organization has acquired the legal rights to in excess of 16,000 master tune recordings from the 1940’s, 50’s 60’s and 70’s from some of the most recognizable bands and singers in the songs business. Catalog songs deal with various genres: state, rock, classical, blues, gospel, pop, reggae, jazz, and so on. The business maintains a warehouse keeping 1,000s of historical, primary, unrestored artist studio recordings in diverse formats from 1940’s – 1970’s. Maestro has managed a Digital Distribution Settlement considering the fact that 2003 with SONY/ THE ORCHARD.
About World Fiber Systems, Inc.:
Worldwide Fiber Technologies, Inc. is a ECO-engineering keeping enterprise that specializes in the “repurposing” of textile fibers. The Company operates through three subsidiaries, Genuine Heroes Inc., ECOTEK360 and Fiber-chain LLC. The Organization employs its patented systems and proprietary trade strategies that will bring chopping edge attributes and value added houses to textile and clothing industries. The Organization will market its branded solutions to both equally the B2B and B2C markets which will incorporate the corporate, hotel, healthcare facility, and armed forces and E-Commerce Buyer markets.
Harmless Harbor Act
Ahead-On the lookout Statements: This launch is made up of statements that constitute forward-on the lookout statements in the indicating of Part 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements seem in a variety of destinations in this release and include things like all statements that are not statements of historic fact about the intent, perception or present expectations of World Fiber Systems, Inc., its directors or its officers with respect to, between other factors: (i) funding strategies (ii) tendencies influencing its financial condition or outcomes of operations (iii) progress system and functioning approach. The words and phrases “may,” “would,” “will,” “hope,” “estimate,” “can,” “think,” “probable” and related expressions and versions thereof are meant to discover forward-seeking statements. Investors are cautioned that any these kinds of forward-looking statements together with people relating to the Company’s financing being ample for the Enterprise to position its items in retail shops, execute its acquisition method, and to start its development and enlargement designs, between some others, are not ensures of future effectiveness and include risks and uncertainties, numerous of which are further than Global Fiber Systems, Inc.’s capacity to control, and actual benefits may possibly differ materially from people projected in the forward-looking statements as a consequence of numerous aspects. No information and facts in this press launch should really be construed in any way by any means as an indicator of Worldwide Fiber Technologies Inc.’s long run revenues, economic effectiveness or inventory price. Much more information and facts about the prospective things that could affect the business and monetary outcomes is and will be provided in Global Fiber Systems, Inc., filings with the Securities and Trade Commission at www.sec.gov.
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