Looking Glass Labs Announces GenZeroes Roadmap Including NFT Drop

The Company's GenZeroes Schedule Includes Eight Chapters of the Live-Action Series in the Form of Webisodes and Comics, as well as an NFT Drop, a Fireside Chat, Winner Announcements, Merchandise Giveaways and More

VANCOUVER, BC, May 4, 2022 /CNW/ - Looking Glass Labs Ltd. ("LGL" or the "Company") (NEO: NFTX) (FRA: H1N), a leading Web3 platform specializing in non-fungible token ("NFT") architecture, immersive metaverse environments, play-to-earn tokenization and virtual asset royalty streams, is pleased to announce the release of the GenZeroes roadmap (the "Roadmap"), which includes a series of broadcasts, launches and other events occurring into the summer months. GenZeroes is the product of the Company's flagship studio, House of Kibaa ("HoK"). The Roadmap outlines what people can expect from the GenZeroes franchise until the end of July, including but not limited to eight chapters of the GenZeroes live-action series in the form of webisodes and comics, a GenZeroes NFT drop, a fireside chat, winner announcements and merchandise giveaways for NFT holders.

In the near term, the GenZeroes trailer is premiering today, May 4^th, at 12:00 PM Pacific Time with a fireside chat about the series announced for May 11^th. On May 18^th, the first webisode is scheduled to be released with chapter two being issued on May 20^th in the form of the first comic as part of the series. The third chapter is booked as another webisode for the 25^th to round out the Roadmap for the month of May.

The next GenZeroes NFT Drop is to take place in early June, with more details to be provided regarding that event in due course. On June 8^th, chapters four and five will be released as a paired comic and webisode, respectively, with chapters six and seven being released in the same way one week later on June 15^th. Chapter eight is planned to be released on June 22^nd as another comic, with the NFT Golden Ticket Comic Con winners announcement also scheduled to occur during the month of June.

In July, GenZeroes merchandise will be available for NFT holders and will coincide with Comic Con International taking place from July 21-24^th in San Diego, California. More information about the Roadmap can be found on the GenZeroes Twitter profile (@GenZeroes), with the specific Roadmap announcement available via the following URL: https://twitter.com/GenZeroes/status/1520187479206219776 

The GenZeroes live-action series consists of a group of episodes in the science fiction genre, with storylines built around the GenZeroes NFT collection. The series is NFT-integrated and stars Aleks Paunovic, a Canadian-born actor who has starred in Zero Contact and appeared in Hawkeye.¹ The holders of GenZeroes NFTs get exclusive access to episodes and other additional perks. NFTs are becoming more prominent in the entertainment world and can give creators new ways to interact with their audiences, raise money to cover production costs, create new distribution windows, and overall be able to better sell movies and TV shows.²

Management Commentary

"We are excited to announce the robust GenZeroes Roadmap and kick-off the marketing campaign around the series. We are very proud of how everything has come together and are truly grateful to launch the first ever live-action NFT series," said Dorian Banks, Chief Executive Officer of LGL. "We are happy to see GenZeroes make history and showcase just a hint of the endless possibilities that NFTs are beginning to offer the entertainment industry," added Mr. Banks.

ABOUT LOOKING GLASS LABS

Headquartered in Vancouver, British Columbia, Looking Glass Labs ("LGL") is a Web3 platform specializing in non-fungible token ("NFT") architecture, immersive metaverse environments, play-to-earn tokenization and virtual asset royalty streams. Its leading brand, House of Kibaa ("HoK"), designs and curates a next generation metaverse for 3D assets, which allows functional art and collectibles to exist simultaneously across different NFT blockchain environments. HoK has successfully released digital assets to include GenZeroes, which sold out in just 37 minutes for total proceeds to LGL of CAD 6.2 million, in addition to a perpetual 5% royalty stream on secondary market sales. HoK plans to launch a hyper-realistic metaverse built on the latest version of Unreal Engine in 2022.

On behalf of LOOKING GLASS LABS LTD.

"Dorian Banks"
Dorian Banks, Chief Executive Officer
Twitter: @DorianBanks

Twitter: @LGL_io

Forward-Looking Information

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 development of the Project Origin metaverse, the Company's goal to become the leading digital studio specializing in NFT architecture, immersive metaverse design and virtual asset display monetization streams; intention to build out a portfolio of perpetual NFT royalty streams through collaborations, accretive acquisitions and other arrangements, to potentially result in consistent, de-risked and passive revenue; and the near-term projects and future projects as referenced in this news release.

The material assumptions supporting these forward-looking statements include, among others, that: the Company could mitigate the risks associated with the blockchain and NFT industry; the ability to compete with other businesses in the NFT market; the availability of sufficient funding to carry out the Company's business development plans; favourable market conditions; the ability of HoK to sell all or substantially all of its offerings; and the ability to complete the development of GenZeroes in a timely manner.

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 continued growth and adoption of NFT and metaverse offerings by the consumer market; the cost of developing and designing NFTs and metaverses is economically viable; the Company being able to attract and retain a sufficient workforce with desired skillsets to develop the Company's NFT and metaverse offerings; the availability of offerings provided by third-parties in the NFT, metaverse development and online gaming market to identify potential transactions; the increasing adoption of NFTs as a solution for various online gaming, entertainment and collectible uses; the Company having the ability to mitigate the risks associated with the blockchain and NFT industry; and the ability to compete with other businesses in the NFT, metaverse development, content creation and collectibles market.

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 Company's offerings are not accepted by the consumer, the risk that other competitors may offer similar digital offerings; 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 development of any of its technologies; 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; the risk that the NFT technology may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain that make the NFT 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 offerings; the potential future unviability of the NFT market in general; the volatile cost of the amount of computational effort required to execute specific operations on the blockchain, and other general risks involved in the blockchain solutions.

Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials, including its reports filed with the Canadian securities regulators and which can be obtained from www.sedar.com.

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.

ENDNOTES

1. "Aleks Paunovic", IMDB, 2022, https://www.imdb.com/name/nm0006820/
2. "If Snoop Dogg, Reese Witherspoon, and McDonald's Can Do NFTs, So Will You", Chris Lindahl, IndieWire, February 22, 2022, https://www.indiewire.com/2022/02/nfts-in-film-tv-what-they-are-1234696393/

SOURCE Looking Glass Labs Ltd.

Dorian Banks, Toll-Free: +1 833 LGL-NFTX (833-545-6389), Email: [email protected]