TerraZero Technologies Inc. Acquires 185-Parcel Estate of Virtual Real Estate in Decentraland, Valued at Approximately USD $2,775,000, to Build Massive Entertainment Destination in the Metaverse
- TerraZero Welcomes Renowned Decentraland Entrepreneur Carl Fravel as Strategic Advisor.
- Acquisition of 185-Parcel Estate of Decentraland Virtual Real Estate from Carl Fravel. Transaction is One of the Largest in Decentraland to Date.
- TerraZero simultaneously acquires leading Metaverse and NFT Marketing Firm BEAR NFT.
VANCOUVER, BC, March 7, 2022 /CNW/ - TerraZero Technologies Inc. ("TerraZero" or the "Company"), a vertically integrated Metaverse technology company, announces that it has acquired one of the most significant estates in Decentraland to build the premiere entertainment destination in the Metaverse. The company envisions that this destination will include immersive experiences like virtual concerts, film screenings, shopping, cultural and educational experiences.
In addition, the company announces that renowned technology executive and Decentraland entrepreneur and district leader, Mr. Carl Fravel, has joined the Company as a strategic advisor. Effective immediately, Mr. Fravel will bring his Metaverse strategy and execution expertise to TerraZero's growing portfolio of products and services, including its Metaverse Studio used for builds and deployments across Metaverse worlds.
As part of the new partnership, Mr. Fravel sold a portion of his personal collection of prime strategic virtual real estate, 185 parcels in total, which he has held since the launch of Decentraland, for a combination of shares and cash from TerraZero. The 185-parcel estate has an estimated market value of approximately US$ 2,775,0001. Mr. Fravel sees this transaction as a watershed moment for business and ecommerce in the Metaverse, as he commented:
"I see the Metaverse in the early stages of a paradigm shift to deep substance – major entertainment, highly functional real estate, Web3 commerce, experiential advertising, education, telemedicine, and entirely new use cases. The opportunities within the Metaverse of benefit to humanity are endless and I can't wait to help support and grow TerraZero, a company whose vision, leadership and ethics I have greatly admired. I am thrilled to be a significant shareholder of TerraZero and I am excited to watch the future of the Metaverse unfold."
Since its formation in 2017, Mr. Fravel acts as key advisor and district leader for Decentraland, develops and enhances the Decentraland Conference Center (https://dclconf.com) as its founder, supports various official Decentraland districts like Aetheria, Virtual Reality Shopping, Decentraland University and Chobury as member of their district leadership teams, and was appointed as Chancellor of Decentraland University.
TerraZero intends to build a massive cityscape across part of the 185-parcel expanse—one which could be one of the largest undertakings across the Metaverse. If Mr. Fravel represents the generation which saw the rise of the Metaverse, from Second Life to Decentraland, TerraZero's simultaneous acquisition of BEAR NFT represents a torch passing from one generation to the next. BEAR NFT, Co-Founded by TerraZero's Chief Metaverse Officer, Ryan Kieffer, has hosted and built some of the largest and most successful Metaverse events, including the first live music festival. In being acquired by TerraZero, BEAR NFT's know-how and execution bolsters TerraZero's already growing roster of Metaverse-veteran talent, which will serve to be integral as TerraZero now takes on their 185-parcel acquisition from Mr. Fravel. Ryan Kieffer has big plans for the virtual land:
"The Metaverse will be about creating immersive spaces where people can do everything they enjoy in the real world, but in the virtual world. We want to build a city-like environment akin to Epcot or Universal Studios where users can start exploring in the morning, and go until the end of the night without even scratching the surface of what is possible. Excursions, shopping, concerts, film premieres, museums, attractions—it all needs to be there and larger than life."
Dan Reitzik, Blockchain-veteran and CEO of TerraZero, states:
"Our Company and the whole team are really honored to include such impressive Decentraland entrepreneurs like Carl Fravel and Ryan Kieffer on our team. Together with Carl Fravel's wisdom and direction from Ryan Kieffer, TerraZero will focus on creating state-of-the-art solutions to further enhance the scope of what is possible in the Metaverse, for the creation of thriving new economies and impressive user experiences that will shape the implementation of Web 3.0 and create a better future for all."
About TerraZero Technologies Inc.
TerraZero Technologies Inc. ("TerraZero") was founded by cryptocurrency and blockchain pioneer Dan Reitzik. TerraZero is a vertically integrated Metaverse development group and leading Web 3.0 technology company specializing in the Metaverse space. The Company's Metaverse agnostic vision is to develop, acquire, and finance the Metaverse's most promising companies, entrepreneurs, and developers, while creating solutions to further enhance the Metaverse usability for greater community engagement within the Metaverse, and to connect the real world to the Metaverse, for the creation of new economies and user experiences that will shape the future of Web 3.0. TerraZero also owns digital real estate and provides 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) virtual real estate; (2) advertising; (3) data analytics; (4) events and marketing; and (5) infrastructure. TerraZero aims to support the community, foster innovation, and drive adoption. For more information, please visit www.terrazero.com.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain statements and information that may constitute forward-looking information or statements. 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 Company's intention to develop, grow and monetize its virtual land holdings; that establishing an early presence within the Metaverse will provide the Company with new users, branding, and marketing opportunities; development of products and services; 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; 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. 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
1 Based on the current average estimated cost of US$15,000 per parcel in Decentraland |
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SOURCE TerraZero Technologies Inc.
Dan Reitzik, CEO, Director & Founder, E-mail: [email protected]
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