VANCOUVER, British Columbia, May 29, 2023 (GLOBE NEWSWIRE) -- Looking Glass Labs Ltd. ("LGL" or the "Company") (NEO: NFTX) (AQSE: NFTX) (OTC: LGSLF) (FRA: H1N)is pleased to announce the launch of its next Pocket Dimension version ("pocket sizeLGL's Pocket Dimension Metaverse is an online virtual space offering its owners and users a virtual space represented by one of eleven different environments including Archipelago, Countryside, Dale, Dunes, Fjord, Marsh, Savanna, Tundra , Woodland, Zen, and Genesis. Moon. Each environment represents a unique representation of one of Earth's ecosystems, as described in each environment's name. Pocket Dimension users interact with other users through avatars. November 1, 2022, LGL launched the alpha version of Pocket Dimension, followed by the launch of the beta version on February 21, 2023. The Company followed up on previous versions and launched its public version of Pocket Dimension, (“V1.0").
V1.0 fixes various animation, rendering, collision and building issues reported by users during the alpha and beta releases. The latest version has brought improvements to ensure smoother gameplay and smoother experience. For a list of the latest improvements, please refer to the Pocket Dimension release notes at the following URL: https://www.houseofkibaa.com/pocketdimension
Change of director
The Company announces that Patrick O'Flaherty has resigned from its Board of Directors. The Board of Directors thanks Mr. O'Flaherty for his services to the Company. In its place, LGL announces that Kevin Cornish has been appointed to the board of directors.
Mr. Cornish is the Chief Financial Officer of an international public company. With over 17 years of leadership experience in finance, strategy and operations, he is a comprehensive leader in business management. Mr. Cornish has worked on several start-ups and turnarounds in both Canada and the United States. Mr. Cornish takes pride in overcoming unresolved hurdles in many industries and markets. His knowledge of international business practices and successful implementation of strategy, coupled with his ability to adapt and scale quickly, make him a powerhouse in any business. Mr. Cornish holds an MBA from Saint Mary's University in Halifax, where he also obtained his CPA designation. Coupled with his HR designation, Mr. Cornish is adept at integrating many facets of business into his role to maximize his overall value to a company.
Mr. Cornish has held board positions with not-for-profit, private and public companies throughout his career and continues to find opportunities where he can add value to companies through their strategic direction and to their corporate governance.
ABOUT LOOKING GLASS LABS
Based in Vancouver, British Columbia, Looking Glass Labs ("LGL") specializes in consumer engagement applications to leverage immersive metaverse environments, play-to-earn tokenization and blockchain monetization strategies. 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 in different NFT blockchain environments.
Behalf LOOKING GLASS LABS LTD.
Dorian Banks, Managing Director
This press release contains "forward-looking statements". Statements in this press release that are not purely historical are forward-looking statements and include all statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements include, among others: the continued development of Pocket Dimension, the development of immersive metaverse environments, play-to-earn tokenization and blockchain monetization strategies; pursue partnerships to monetize blockchain and Web3 opportunities; and short-term and future plans.
Important assumptions supporting these forward-looking statements include, among others, that: the company may mitigate risks associated with the blockchain and NFT industry; the ability to compete with other companies in the NFT market; the availability of sufficient funding to carry out the Company's business development plans; favorable market conditions; HoK's ability to sell all or substantially all of its product offerings; and market acceptance of its products.
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 mainstream 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 the desired skills to develop the Company's NFT and metaverse offerings; the availability of offers provided by third parties in the NFT, metaverse development and online gaming market to identify potential transactions; the growing adoption of NFTs as a solution for various online gaming, entertainment and collecting uses; the Company having the ability to mitigate risks associated with the blockchain and NFT industry; and the ability to compete with other companies 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 will not be accepted by the consumer, the risk that other competitors similar digital offerings; the risk that there may be adverse changes in general economic and business conditions; the risk that the Company will have negative operating cash flow and insufficient capital to complete the development of any of its technologies; the risk that the Company may not be able to obtain additional financing if required; the risk of increased capital and operating costs; the risk that the NFT technology may be subject to fraud and other failures; the risk that there will be technological and blockchain developments that render NFT solutions obsolete; risks related to regulatory changes or actions likely to hinder the development or operation of blockchain solutions; the risk of other competitors publishing similar blockchain offerings; the possible future non-viability of the NFT market generally; the volatile cost of the amount of computational effort required to perform specific operations on the blockchain, and other general risks involved with blockchain solutions.
Risks and uncertainties relating to the Company's business are discussed in more detail in the Company's disclosure documents, including its reports filed with Canadian securities regulators and which may be obtained from www.sedar.com.
Each of these risks could 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 such forward-looking statements. In addition, while 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 the forward-looking statements, there may be Other factors that cause results, activity levels, performance or achievements not to be those anticipated, estimated or intended. These forward-looking statements are made as of the date of this press release, and the Company undertakes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the statements. forward-looking, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be correct. The Company assumes no responsibility for the disclosure relating to any other company mentioned herein.
SOURCE: LOOKING GLASS LABS LTD.