Intention to Jointly Create Web 3.0 Tools
NEW YORK, July 25, 2023 /PRNewswire/ -- SMX (Security Matters) PLC (NASDAQ:SMX; SMXWW) today announced that it has entered into a Sales Cooperation Agreement with Data Vault Holdings, Inc., which acts in the area of Web 3.0 technologies, crypto anchors and data software as a service, pursuant to which each party on a non-exclusive basis will effect introductions of potential clients to the other.
Pursuant to the agreement, any transaction between a party and an introduced client shall entitle the introducing party to a commission on income received in the transaction for 48 months.
In addition to entering into the Sales Cooperation Agreement, the companies intend to collaborate to advance Data Vault's Web 3.0 strategies for data visualization, inventory tracking and laboratory automation, using SMX's digital blockchain platform enhanced with a physical marker.
"We believe that systems integration with SMX's blockchain technology will enable our ability to track and trace data objects within laboratory environments. Our ability to have invisible marking for consumer product is expected to enhance Data Vault's proprietary solutions. The patented technology stack we now have in tandem with SMX's tracing and tracking technology would expand what is currently possible with our platform. In conjunction with our other Web 3.0 anchors that allow for greater specificity, security and control, SMX's technology is expected to give us a technical advantage. Data Vault's planned integration of SMX's blockchain technology will allow our customers to deploy and direct digital twin, tracing, anti-counterfeiting and data security initiatives directly from our platform with a level of scalability that we believe is truly novel," stated Nathaniel Bradley, CEO of Data Vault Holdings.
SMX management stated, "We are excited with this cooperation that we expect could lead to an increase in SMX's reach in finding new clients for its services. We believe that this is yet another milestone towards SMX's growth strategy."
About SMX
As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.
About Data Vault Holdings Inc.
Data Vault Holdings Inc. is a technology holding company that provides a proprietary, cloud-based platform for the delivery of branded data-backed web 3.0 tools. Data Vault Holdings Inc. provides businesses with the tools to monetize data assets securely over its Information Data ExchangeⓇ (IDE). The Data Vault Holdings owns Donate Technologies, Inc., ADIO LLC, and Datavault Inc. as wholly owned subsidiaries under one corporate structure.
Forward-Looking Statements
The information in this press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "intends," "may," "will," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release may include, for example: matters relating to the Company's fight against abusive and possibly illegal trading tactics against the Company's stock; successful launch and implementation of SMX's joint projects with manufacturers and other supply chain participants of steel, rubber and other materials; changes in SMX's strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; SMX's ability to develop and launch new products and services; SMX's ability to successfully and efficiently integrate future expansion plans and opportunities; SMX's ability to grow its business in a cost-effective manner; SMX's product development timeline and estimated research and development costs; the implementation, market acceptance and success of SMX's business model; developments and projections relating to SMX's competitors and industry; and SMX's approach and goals with respect to technology. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is undertaken to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain the listing of the Company's shares on Nasdaq; changes in applicable laws or regulations; the effects of the COVID-19 pandemic on SMX's business; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; the risk of downturns and the possibility of rapid change in the highly competitive industry in which SMX operates; the risk that SMX and its current and future collaborators are unable to successfully develop and commercialize SMX's products or services, or experience significant delays in doing so; the risk that the Company may never achieve or sustain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company experiences difficulties in managing its growth and expanding operations; the risk that third-party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that SMX is unable to secure or protect its intellectual property; the possibility that SMX may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described in SMX's filings from time to time with the Securities and Exchange Commission.
Follow us through our social channel @secmattersltd
View original content to download multimedia:https://www.prnewswire.com/news-releases/smx-security-matters-enters-into-sales-cooperation-agreement-with-data-vault-301885090.html
SOURCE SMX
