TerraZero Announces 'Intraverse' Virtual Space Technology Product Will Integrate with Polygon Protocol as Blockchain of Choice
TerraZero's Intraverse technology product will use the Polygon proof-of-stake (PoS) blockchain to mint digital assets for experiences;
TerraZero and Polygon Labs will collaborate on compelling experiences for brands and users via the Intraverse technology product;
VANCOUVER, BC, Sept. 12, 2023 /CNW/ - TerraZero Technologies Inc. ("TerraZero") has chosen the Polygon PoS protocol to serve as the blockchain network of choice for their Intraverse product, which will debut to the market this year. The Intraverse product represents TerraZero's new approach to getting brands and consumers into virtual experiences – ones that can live on brand websites, and give both brands and consumers the ability to transact using credit cards.
This announcement comes after the Polygon network becoming an established, ESG-friendly, and low barrier to entry protocol for companies and individuals looking to mint digital assets, while TerraZero has established itself by working with major brands and artists, from Warner Records to Fidelity International and many others, in addition to developing products which reduce the barrier to entry for consumers and brands to get into virtual experiences.
TerraZero CEO Dan Reitzik states, "Most brands immediately saw Polygon as the ESG-friendly option, which is imperative in today's day and age. As our Intraverse product hits the market, and we continue to mitigate long-standing issues which users and companies have had with blockchain-oriented Metaverse worlds, the ability to still link to Web3 wallets and mint digital assets is essential. Doing it through Polygon is an easy solution."
Corporations or other entities which are interested in exploring the Intraverse product from TerraZero can visit the Company's website www.terrazero.com or contact [email protected].
TerraZero Technologies Inc. ("TerraZero") is a vertically integrated Metaverse development group and leading web3 technology company specializing in helping brands create immersive experiences. The Company's Metaverse-agnostic vision is to develop and implement products and services with scalable commercial applications to flourish engagement across gamified experiences where enterprise-level businesses, Metaverse platforms, and web3 creators can seamlessly bridge and actionably grow their virtual world and the physical world endeavors together as one. TerraZero owns digital real estate for brands to establish presence in existing virtual worlds and can also offer brands their own private worlds to provide offices and services to those interested in the Metaverse. Furthermore, TerraZero acquires, designs, builds, and operates virtual assets and solutions to monetize the Metaverse ecosystem. The Company's businesses are segmented into five (5) divisions which include: (1) Immersive experience creation in existing or private virtual worlds; (2) advertising; (3) data analytics; (4) events and marketing; and (5) infrastructure. TerraZero aims to support the community, foster innovation, and drive adoption.
Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups), sidechains, app-specific chains and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding 261 million, over 1.4 million smart contracts created and 2.7 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap, QiDao and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading Web3 in becoming carbon negative.
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This news release includes certain statements and information that may constitute forward-looking information or statements within the meaning of applicable securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends," "expects," or "anticipates," or variations of such words and phrases or statements that certain actions, events, or results "may," "could," "should," "would," or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward–looking statements," are not historical facts and are made as of the date of this news release, which includes without limitation, statements regarding discussions of future plans, estimates, and forecasts and statements as to management's expectations and intentions with respect to, among other things: the expected benefits and outcomes of using Polygon blockchain; developing products including its Intraverse product and the expected outcomes of such product and services; that establishing an early presence within the Metaverse will provide the Company with new users, branding, and marketing opportunities; events, courses of action, and the potential of the Company's technology and operations, among others, are all forward-looking information.
Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, business, economic, and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company's financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to personnel, employees, and consultants; market conditions and the demand and pricing for products and services; the demand and pricing of cryptocurrencies and NFTs (including digital assets); security threats, including a loss/theft of TerraZero's NFTs, cryptocurrencies, and other assets; TerraZero's relationships with its customers and business partners; TerraZero's ability to successfully define, design, and release new products in a timely manner that meet customers' needs; the ability to attract, retain, and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. As a result, TerraZero may not actually achieve its plans, projections, or expectations. In addition, such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to develop software successfully, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals, and the price of cryptocurrencies and NFTs (including digital assets). Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements.
Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain regulatory approval, the continued availability of capital and financing, technology failures, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of COVID-19 or other viruses and diseases on the Company's ability to operate and hire personnel, competition, security threats including stolen NFTs and cryptocurrencies from TerraZero or its customers, consumer sentiment towards TerraZero's products, services and Metaverse technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in labor costs, decrease in the price of cryptocurrencies and NFTs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market, or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties.
SOURCE TerraZero Technologies Inc.
Please visit https://terrazero.com/or contact [email protected].
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