Looking Glass Labs CCO Jason Nguyen to Speak at the Superverse Conference in Dubai

Mr. Nguyen to Speak at the Evolutional Superverse Conference on February 22, 2022

VANCOUVER, BC, Feb. 15, 2022 /CNW/ - Looking Glass Labs Ltd. ("LGL" or the "Company") (NEO: NFTX), 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 that Jason Nguyen, Chief Creative Officer of LGL, will be a keynote speaker at the Superverse Conference ("Superverse" or the "Conference) taking place in the Dubai Festival Arena on February 22, 2022. Mr. Nguyen is the founder and guiding mind of LGL's leading brand, House of Kibaa ("HoK") where he successfully scaled HoK into a celebrated Web3 studio at the forefront of technologies across the NFT, metaverse and engage-to-earn verticals. Jason continues to champion HoK's development of its hyper-realistic metaverse, digital distribution service and 3D digital asset design initiatives.

Superverse is the largest collaborative event connecting creators, entrepreneurs, and artists that are evolving the creator industry. The Conference is to discuss transformational technology and ideas that are shaping the way we create, consume, monetize, and view our future world.¹ The topics at the center of the Conference include NFTs, decentralized autonomous organizations, and metaverses.  The Conference takes place over two days, with over 70 speakers, and can be attended online or in-person.

Located within Dubai Festival City with seamless accessibility and connectivity, Festival Arena by InterContinental has been selected as the venue for Superverse based on its flexibility and customization for the Conference.² Dubai Festival City is a neighbourhood in Dubai that boasts many modern businesses, hotels, and entertainment.³ Festival Arena is conveniently situated near hotels and restaurants for Superverse speakers and attendees. For more information about Superverse, please visit the website via the following link: https://superverse.me/

Management Commentary

"The opportunity to have Jason represent LGL and speak at such a massive and topical event like Superverse is such an honour for our Company. We are confident in the value that Jason will add to the Conference and are also excited for the business development opportunities that will follow him back to Canada," said Dorian Banks, Chief Executive Officer of LGL. "Our interdisciplinary approach to curating innovations in the NFT and metaverse spaces has led us enjoy a strong reputation within the industry, thanks to the hard work of Jason and his team at the House of Kibaa. This has resulted in the opportunity to address keen audiences and collaborate with some of the most advanced people and companies in the world," added Mr. Banks.

Corporate Update

The Company also announces that it has filed an amended and restated Annual Information Form ("AIF") on SEDAR on February 14, 2022. The changes to the AIF filed on February 9, 2022 relate to the correction of the stated number of stock options held by each director and officer of the Company as set out at Section 8.1 of the amended and restated AIF.

ABOUT LOOKING GLASS LABS

Headquartered in Vancouver, British Columbia, Looking Glass Labs 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 completely sold out in just 37 minutes for total proceeds to LGL of $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 Unreal 5 engine in 2022.

On behalf of LOOKING GLASS LABS LTD.

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

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 Company's goal to become the leading digital studio specializing in NFT architecture, immersive metaverse design and virtual asset display monetization streams; and 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.

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; and the ability to compete with other businesses in the NFT 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 continued growth and adoption of NFT and metaverse offerings by consumers; 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; the ability to compete with other businesses in the NFT, metaverse development, content creation and collectibles market; 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. "Superverse '22", superverse.me, 2021, https://superverse.me/
2. "A Dynamic Canvas, Personally Crafted, Delivering the Ultimate Venue for Premium Events", Festival Arena Intercontinental, 2021, https://www.dubaifestivalcityhotels.com/festivalarena
3. "Dubai Festival City", Wikipedia, last edited on January 5, 2022, https://en.wikipedia.org/wiki/Dubai_Festival_City

SOURCE Looking Glass Labs Ltd.

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