Blockchain Foundry Provides Update on Product Strategy

·6 min read
Blockchain Foundry Inc.
Blockchain Foundry Inc.

TORONTO, June 28, 2022 (GLOBE NEWSWIRE) -- Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a leading North American blockchain development firm, is pleased to provide an update on its product strategy and roadmap.

The Company is currently exploring four distinct product paths, an approach which provides several benefits, including:

  • Focusing on revenue generating products that can be delivered without the need for additional funding;

  • Using a diversified approach to de-risk BCF’s product strategy and create synergies between products;

  • Building on a diverse array of blockchain protocols; selecting the platforms the Company works with on the basis of market acceptance and user adoption; and

  • Ensuring that BCF’s products can be used across multiple platforms.

In January 2022, the Company launched LastKnown, an NFT minting platform and marketplace for unique NFT drops from a curated group of artists and collections. The company has deployed three collections through the platform to date; Billion Buns, Babylon Misfits, and Mutant Bio-Morphans, all from a range of award winning artists. LastKnown is now in the process of developing its first platform-level drop which will include several new NFTs with unique utility benefits, gamification mechanics, staking, a new utility token and more. LastKnown will continue to expand its platform level features throughout 2022, including Metaverse enabled NFTs, NFT rentals and the integration of AI and Machine Learning to its marketplace, further differentiating LastKnown from its competitors.

In May 2022, the Company and its partner The Palmer Group, launched a beta version of Metacademy, a learn to earn educational platform focused on hands-on learning in a risk free environment. Metacademy currently features one course with many more in-development. The course teaches users how to set up a crypto wallet; how to mint, buy and sell NFTs; the differences between Web2 and Web3; how to interact with the metaverse and understand some of its underlying technologies; and how to collect and use decentralized data. Metacademy plans to offer additional courses covering tokenomics, DAOs, Decentralized Identity (SSI), Verifiable Credentials and more.

For the remainder of 2022, BCF will be focused on further developing LastKnown and Metacademy, while also bringing two other products to market: NFKeys and FoundeySwap.

NFKeys is a tokengating solution for projects and businesses to add utility and extended value to any NFT collection with zero code. NFKeys operates as a SaaS solution that simplifies the process of provisioning and redeeming NFT-based perks and benefits both in the real world, online and in the Metaverse. NFKeys allows users to utilize their NFTs as keys to unlocking benefits from a variety of brands without ever exposing their assets to fraud or theft. The NFKeys platform will integrate closely with LastKnown. NFKeys already has several projects lined up for pilot engagements in Q3 2022.

FoundrySwap is BCF’s proprietary solution to bridging tokens from Syscoin’s NEVM blockchain to its base UTXO blockchain without the need for any third party software.

Some of the Company’s anticipated roadmap items may be subject to regulatory review and the appropriate licensing being obtained by BCF. The regulatory environment for certain blockchain and cryptocurrency products is evolving quickly and the Company will assess its regulatory requirements associated with any products or services.

About Blockchain Foundry Inc.

Blockchain Foundry has been developing Web3 and blockchain-based products and services since 2016. BCF provides products that enable businesses to rapidly realize the value of blockchain technology within their organization. Blockchain Foundry offers complimentary professional services to all of its products. BCF also provided consulting services to enterprise clients seeking to incorporate blockchain technology into their businesses.

Blockchain Foundry Contact Information:

Dan Wasyluk
Chief Executive Officer
(647) 792-8782
dwasyluk@blockchainfoundry.com

Forward-Looking Information

Certain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact, including, but not limited to, statements with respect to the business strategy and objectives of BCF, and the anticipated timelines for BCF’s future products. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward-looking information.

Forward-looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all. Readers should not place undue reliance on such forward-looking statements, as they reflect management’s current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by BCF, are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties, and contingencies, including, but not limited to, capital expenditures, other costs, or implied future forecasts related to the new products, the ability of BCF to succeed in carrying out its business, or that it will be successful in developing, commercializing or profitably operating its future products in the manner described herein, changes to the proposed structure of the products that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval for the products. In addition, certain future products may require BCF to become registered or apply for an exemption for registration for which there can be no assurance that such applications will be successful or completed in a timely manner. Many factors could cause BCF’s actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements.

The forward-looking statements contained in this news release are made as of the date of this news release, and BCF does not undertake to update any forward-looking statements contained or referenced herein, except in accordance with applicable securities laws.

Forward-looking statements contained in this news release are expressly qualified by this cautionary note.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.


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