N.NFTX news VANCOUVER, BC , March 17, 2022 /CNW/ - Looking Glass Labs Ltd. ("LGL" or the "Company") (NEO: NFTX) (FRA: H1N), 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 the appointment of Ben Yu as a new member of its strategic advisory board (the " Advisory Board "). Mr. Yu is a recipient of the Thiel Fellowship that has become successful as a business content creator. LGL is actively seeking to grow its international presence as it carries out its business activities in the Americas as well as the Asia-Pacific (" APAC ") region. Accordingly, the Company anticipates that Mr. Yu will contribute to its ability to shape its competitive strategy, pursue select opportunities, launch new products and services, optimize revenue streams and drive long-term value creation.
Ben Yu is an inaugural recipient of the Thiel Fellowship, which is a USD 100,000 grant given by PayPal Founder Peter Thiel to 20 entrepreneurs under the age of 20. After Mr. Yu dropped out of Harvard , he launched Sprayable as the world's first topical energy and sleep sprays. Subsequently, Ben ventured into Cryptocurrency by leveraging insights that he received from Ethereum creator Vitalik Buterin , who was also a Thiel Fellow. Mr Yu also founded Curious Addys and rose to fame via business and lifestyle video content published through Facebook that amassed more than 50,000,000 total views. Based on the challenges Ben faced with respect to monetizing the viewership of his video content, he launched Stream as a decentralized solution for generating revenue through digital media.
Commentary
"Crypto is proving to be an unprecedented tool for monetizing content without the need for a middleman," said Ben Yu , newly appointed Advisory to LGL. "Having generated more than 50,000,000 unique views on my original video content without any opportunity to earn revenue from it, the imbalances in the media production and publication space are something I very much understand firsthand. Although crypto is often thought of as an instrument of currency, the smart nature of the blockchain is what creates the real value, in my opinion. Approaches to leveraging these capabilities were on my radar from the very early days of Ethereum, particularly as someone who was interested in making content. Within months of LGL's launch, it has already started a media production subsidiary and that is set to drop the world's first NFT-based series, with several well-known actors and producers on board. I am excited to provide my insights and guidance on this project, and others."
Dorian Banks , Chief Executive Officer of LGL, said, "As we continue to gain momentum, it is imperative to ensure that we have expert guidance at our disposal with respect to our top business objectives in all applicable markets, especially in the APAC region. Mr. Yu has a very impressive track record in technology and entrepreneurship, which we believe can lead to new opportunities for LGL while also maximizing the value of our current pursuits. We are pleased to add such an accomplished person to LGL's Advisory Board, thereby enabling us to benefit from his areas of expertise."
Nas Summit
The Company also announces that Jason Nguyen , Chief Creative Officer of LGL, will be speaking on March 18, 2022 and hosting a workshop at Nas Summit 2022 (the " Summit ") occurring at the Address Sky View Hotel in Dubai from March 17-19, 2022 . Mr. Nguyen is a principal of LGL's leading brand, House of Kibaa (" HoK ") where he has successfully scaled HoK into a celebrated Web3 studio at the forefront of technologies across the NFT, metaverse and play-to-earn verticals. Mr. Nguyen's presentation may contain forward-looking information. Recently appointed member of the Company's advisory board, Ben Yu , is also scheduled to speak at the Summit.
The Summit, also branded as The Creators Conference, is a three-day event, with 50 speakers, including creators, start-ups and investors in attendance. It is planned to be a gathering of the most interesting people in the field of social media. Over 700 attendees will have the opportunity to hear from the best people in the world regarding content creation and what works, what doesn't work, how to monetize it, how to raise money and the future of content creation. Each creator who will be speaking at the Summit has thousands, if not millions, of followers on social media from all around the world.
The Summit is sponsored by Google, Jellysmack, Meta and Red Bull , among others. Other notable creators with large followings who are speaking either in person or virtually at the Summit include CarryMinati (51 million followers), Indian YouTuber and streamer; Nuseir Yassin (47 million followers), founder of Nas Daily; Brandon Stanton (30 million followers), creator of Humans of New York ; and the Gen Halilintar family (26 million followers). Numerous thought leaders will also be sharing their ideas at the Summit along with Mr. Nguyen including, but not limited to, Alyne Tamir , CEO and Founder of Dear Alyne Company; Michelle Khare , video creator and fitness expert; as well as Woody Milintachinda, content creator and online TV host in Thailand .
Issuance of Options
The Company has granted an aggregate of 50,000 incentive share purchase options to Mr. Yu. Each share purchase option is exercisable for a period of two years at an exercise price of CAD 0.80 per common share of the Company. The options vest after four months from the grant date.