Atari Founder Nolan Bushnell’s X2 Games To Be Acquired By Global Blockchain; Proposed Spinout of Enterprise and Exchange Division
GLOBAL BLOCKCHAIN AND X2 GAMES TO CREATE A DYNAMIC INTERACTIVE GAMING COMPANY; X2 GAMES TO FOCUS ON INTERACTIVE AMAZON ALEXA GAMES TO SUPPLY THE 50 MILLION HOME DEVICES WITH GAMING CONTENT
To leverage the powerhouse capabilities of gaming company X2 Games, GLOBAL BLOCKCHAIN will create a subsidiary for its enterprise and exchange-related interests and X2 Games will merge with GLOBAL BLOCKCHAIN. Introducing the experience and visionary abilities of Atari founder Nolan Bushnell and animation legend Zai Ortiz, GLOBAL BLOCKCHAIN will be in a superior position to lead the introduction of blockchain-based interactive video game experiences to the mainstream gaming market.
VANCOUVER, British Columbia, Oct. 10, 2018 (GLOBE NEWSWIRE) -- GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (CSE: BLOC, BLOC.CN, BLOC.CNX) (FSE: BWSP) (OTC: BLKCF) ("BLOC", “Global Blockchain” or the "Company") announces that it will be creating a subsidiary entity for its enterprise and exchange activities (the “Subsidiary”) with a view to unlocking their value through a spinout of critical mass assets, and merging its remaining media and entertainment investments and projects with those of X2 Games Corp. (“X2 Games”). More details about the component assets of the spinout for shareholders of record November 15th, 2018 (the “Record Date”) will be forthcoming.
X2 Games is an independent Games Publisher for cutting edge games that integrate Blockchain Technology and Cryptocurrency into the user’s game experience. Their business model is building multiplayer gaming experiences, providing never-been-seen-before-design and animation services and integrating technologies such as augmented/alternate/virtual reality into video games. X2 Games uses new technologies to create unique game experiences for conventional and experimental platforms. With the industry poised to hit $138 billion USD by year’s-end1. X2 Games is positioning itself to be a world leader in the next-generation of gaming.
NOLAN BUSHNELL – THE GODFATHER OF THE VIDEO GAME INDUSTRY
The Godfather of the Video Game Industry, Nolan Bushnell, created X2 Games, which is focused on innovative gaming technologies. Atari, founded over 40 years ago, gave the world the first blockbuster video game. Nolan later spearheaded the Atari 2600 console which revolutionized the home gaming market. If Atari was not enough for one lifetime achievement, Nolan also created Chuck E. Cheese, creating a pizza parlor and video game entertainment center-hybrid that quickly became popular with children and adults across the United States and the entire world. Nolan paved the way for the global gaming and entertainment industries that have changed billions of peoples’ lives and shaped generations of gamers globally. That was only the beginning of the legacy that he has created. Legendary in the industry he created, Nolan has also been recognized by colleagues and peers, including being named one of the “50 People Who Changed America” by Newsweek. He has also been inducted into both the “Video Game Hall of Fame” and the Consumer Electronics Association Hall of Fame. He is continually striving to ensure his life passions meet at the intersection of technology and entertainment to make people’s lives better through fun!
ZAI ORTIZ – THE HOLLYWOOD INNOVATOR AND CREATOR OF VISUAL ART
The management of X2 Games also includes Zai Ortiz, President, Co-Founder and Chief Creative Officer — an accomplished digital animator who created Iron Man’s J.A.R.V.I.S. system holograms seen in Marvel movies. Ortiz also supervised creative teams in producing visuals for films to include TRON: Legacy, Sherlock Holmes, and Mission: Impossible. Ortiz’s creative virtuosity and keen eye for futuristic designs drives the Company’s mission to give gamers around the world a true cinematic story experience unlike any they’ve ever had. His latest creative project – the AI-driven murder-mystery game ST. NOIRE - bears out this promise, and lays the foundation for X2 Games’ future ambitions in immersive, interactive storytelling. Previously, Ortiz was a founder and CEO of DARK MATTER - a specialized design and visual communications studio in Hollywood, CA, as well as served as the creative director for in-game cinematic Bethesda’s massively popular game The Elder Scrolls – Legends.
X2 GAMES AND BLOC SYNERGY
As X2 Games’ business model aligns well with BLOC’s existing efforts that relate to the tokenization of gaming platforms, the two companies have elected to join forces. Post-acquisition, BLOC will be focused on applications of blockchain technology to the video game, eSports and entertainment industries. It will continue to work on its existing projects, alongside the development of X2 Games’ existing projects. Nolan Bushnell will become the Co-Chairman and CEO of BLOC.
Chairman, CEO and Founder of X2 Games, Nolan Bushnell states, “Creativity is every company’s first driver. It’s where everything starts, where energy and forward motion originate. Without that first charge of creativity nothing else can take place. This acquisition by BLOC will integrate X2 Games’ innovative game development studio and intellectual property within BLOC’s portfolio of Blockchain assets allowing new and revolutionary games to be developed together.”
X2 GAMES PIPELINE
- A mystery themed digital interactive board game, which uses Amazon’s Alexa AI to create the world and characters that inhabit it meaning no two games are ever the same. Estimated pre-release occurring in December 2018.
- For more information about the game please visit: http://bit.ly/st-noire-info-deck
- To watch the trailer for this game please visit: https://www.st-noire.com/amazon-alexa
Additional Digital Interactive Game Developments
- 3 additional digital interactive Alexa Games fueled by high consumer demand for AI powered board games for children and families estimated to launch in March 2019.
- For more Information on upcoming releases and future games please visit: https://x2.games/
GAMING AND THE DIGITAL INTERACTIVE SPACE
The Digital Interactive Gaming space is an immense opportunity to revolutionize how families and children interact with technology, where AI and technology can bring people together.
“Customers have purchased tens of millions of Alexa-enabled devices, given Echo devices over 100,000 5-star reviews, and active customers are up more than 5x since last year." – Amazon CEO Jeff Bezos.2
“Smart Speakers are the Trojan horse for consumer AI” – Business Insider.3
- 50 million Americans own a voice activated AI speaker.4
- 65% of respondents say they would never go back to life without an AI speaker.5
- 81% of respondents say they are open to skills and new features on AI speakers.6
- 41% of respondents say they purchase AI powered speakers to entertain children and families.7
- 25% of respondents say they use AI powered speakers to play digital interactive games.8
- AI Powered speaker sales reached over $12 billion USD so far in 20189, which given the average price of a $100 AI speaker (Amazon Alexa 2nd Gen retail price) translates to 120 million units being sold.
- The smart speaker market is expected to reach $28 billion USD by 202210, which given the average price of a $100 AI speaker (Amazon Alexa 2nd Gen retail price) translates to a 280 million unit sales projection.
BLOC President and CEO Shidan Gouran states, "Our conversations for collaboration with X2 have been in the making for close to a year now. As these relationships have strengthened, we have elected to capitalize on our synergies by way of an acquisition with X2. In addition to picking up X2's projects, we have also brought on two true pioneers, with track records that are second to none, to run and continue growing the leading blockchain company in the media, entertainment, and gaming sectors. All assets belonging to BLOC’s exchange and enterprise divisions will be spun out into a separate company, to be run by BLOC’s current management and operational team. Now you have two best of breed teams, one developing pioneering blockchain based exchange, supply chain and trade finance platforms and the other pioneering blockchain applications in the media, entertainment and gaming sectors, to the great benefit of all shareholders.”
BLOC Chairman, Steve Nerayoff states, “In less than a year, we have managed to develop three companies that are positioned to disrupt blockchain from the perspectives of mining, exchanges, and innovation. By segmenting our competencies and resources so that we can incorporate the strengths of partners such as X2 Games, we believe that this is conducive to realizing revenue earlier and being more profitable in the long term.”
BLOC assets to be spun out include:
- All rights, work product, and assets related to the development of the Laser blockchain.
- All holdings of Laser Technologies Corp. - Cayman Islands subsidiary.
- All rights, work product, and assets related to the development of the Singularity digital asset and forex exchange.
- All rights and work product relating to the business and technology development of Stratus.
- All rights and work product relating to the development of any Middle Eastern Cryptocurrency Spot Exchange.
- Blockchain Technologies DMCC – Dubai subsidiary.
- All rights and interests relating to the investment in Hyperion Crypto Exchange Inc.
- The agreement and project building ongoing with HPE.
- The Quisitive investment.
BLOC shareholders as of the November 1st Record Date will be entitled to this spinout. The spinout will also receive $2,000,000 of BLOC’s cash holdings.
Under the terms of the transaction, for the acquisition of X2 Games, BLOC will issue 330,519,541 Common shares (“Shares”) issued at a deemed price of $0.15 per Share, resulting in an aggregate purchase price of $49,577,931.
Additionally, BLOC will also acquire from Global Blockchain Mining Corp. its 25% interest in DISCO, in exchange for $1,500,000 of BLOC Shares issued at a deemed price of $0.15 per Share. DISCO's incumbent agreements provide extreme synergy to the gaming platform that is being developed.
US DOLLAR TRADING
While the Company trades on the CSE, it currently has, and anticipates that it will continue to have, a significant international following and investor base. As such, the Company announces that it has applied for approval to have its shares trade in USD. Once approved by the CSE, the Company will issue a subsequent news release announcing the effective date. The Cusip number will remain the same.
On behalf of the Company:
Shidan Gouran, President and CEO
For more information, please contact:
IRTH Communications, LLC
About Global Blockchain Technologies Corp.
The Company provides investors access to a basket of direct and indirect holdings within the blockchain space, managed by a team of industry pioneers and early adopters of all major cryptocurrencies.
The Company is focused on streamlining the currently arduous, lengthy, and complicated process that interested investors must undergo in order to gain exposure to the cryptocurrency space, with a view to becoming the first vertically-integrated originator and manager of top tier blockchains and digital currencies.
BLOC is listed on the Canadian Securities Exchange (“CSE”) and its common shares trade under the ticker symbol "BLOC." Additional information relating to BLOC is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com, as well as on the Company's website at www.globalblockchain.io.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved”. Forward-looking information includes, but is not limited to the Company’s goal of streamlining the current arduous, lengthy and complicated process that interested investors need to undergo in order to gain exposure to the cryptocurrency space with a view to becoming the first vertically integrated originator and manager of top-tier blockchains and digital currencies. The Company has no assets and its business plan is purely conceptual in nature and there is no assurance that it will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made, including but not limited to: statements and expectations regarding the ability of the Company to (i) successfully engage senior management with appropriate industry experience and expertise, (ii) gain access to and acquire a basket of cryptocurrency assets and pre-ICO and ICO financings on favourable terms or at all, (iii) successfully create its own tokens and ICO’s, and (iv) execute on future M&A opportunities in the cryptocurrency space; receipt of required regulatory approvals; the availability of necessary financing; permitting and such other assumptions and factors as set out herein. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in cryptocurrency prices; the estimation of personnel and operating costs; general global markets and economic conditions; risks associated with uninsurable risks; risks associated with currency fluctuations; competition faced in securing experienced personnel with appropriate industry experience and expertise; risks associated with changes in the financial auditing and corporate governance standards applicable to cryptocurrencies and ICO’s; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued development of the Company’s business plan may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation. Although the Company has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information set out in this presentation, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Released October 11, 2018