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    CWRK   US23131W1036

CURRENCYWORKS INC.

(CWRK)
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CurrencyWorks : Prepares New NFT Releases for Motoclub

07/22/2021 | 09:15am EDT

Los Angeles CA, July 22, 2021 (GLOBE NEWSWIRE) -- CurrencyWorks Inc. (“CurrencyWorks” or the “Company”), (CSE: CWRK and OTCQB: CWRK), a full service blockchain platform provider is pleased to announce that it is in the final stages of preparing the first online NFT sales drop for Motoclub.io.

Motoclub.io is a joint venture between CurrencyWorks and Barrett-Jackson Collector Car Auctions, which successfully launched in June, 2021 aimed at automotive enthusiasts and collectors.

Four exclusive launch NFTs were auctioned live at the Barrett-Jackson 2021 Las Vegas Auction in June, 2021 resulting in over $65,000 in sales.

Since then, CurrencyWorks has been working hard to prepare a dedicated sales and trading platform as part of the Motoclub partnership.

Ahead of the trading platform opening next month, the very first NFT Series created by CurrencyWorks for Motoclub is nearing completion. Each series will feature 5 specially selected vehicles from Barrett-Jackson’s 2021 Las Vegas Auction.

Each vehicle will be featured across 5 NFTs: 1 x exclusive video, 3 x exclusive images, and 1 x custom illustration. The twenty-five total NFTs will be split into randomised packs which collectors can then purchase directly through Motoclub.io. Pack prices have yet to be announced.

Cameron Chell, Executive Chairman of CurrencyWorks Inc, said: “Our primary objective has always been to have the ability for Motoclub members to buy, sell and trade directly on the platform using CurrencyWorks own proprietary blockchain technology. This opens up a very important revenue stream for the project, and I’m really looking forward to seeing regular pack drops taking place as we grow our content base and consumers build-up their collector car NFT collections.”

Future auction sales of special NFT content supplied by Barrett-Jackson will continue to take place in line with the Barrett-Jackson auction calendar, and further content is set to be made available to Motoclub members courtesy of the recent agreement made with the International Motorsport Hall of Fame.

Register for Motoclub updates.

About CurrencyWorks

CurrencyWorks Inc. (CSE: CWRK and OTCQB: CWRK) is a publicly traded company that builds and operates a full service blockchain platform.

For more information on CurrencyWorks, please visit us at www.currencyworks.io. For additional investor info visit www.currencyworks.io or www.sedar.com and www.sec.gov searching CWRK.

Media Contact
Arian Hopkins
arian@currencyworks.io

Company Contact
Bruce Elliott, President
Phone: 424-570-9446
Bruce.elliott@currencyworks.io

About Motoclub.io

Motoclub is a digital collectible space for automotive enthusiasts and fans of automotive memorabilia. 

Motoclub partners with some of the biggest names in motorsport, classic and contemporary vehicles, to bring collectors some of the most unique and exclusive digital collectibles available today.

All Motoclub collectible NFTs are minted, sold, and traded through its own specially created platform for buyers to enjoy through their own Motoclub digital wallets.

The Motoclub platform is supported and managed by blockchain pioneers CurrencyWorks Inc.

For more information go to http://www.motoclub.io

Media Contact
Richard Hilton
media@motoclub.io

Forward-Looking Statements

This news release contains “forward-looking statements.” Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things: statements regarding the fact that the Motoclub trading platform will result in a revenue stream for the CurrencyWorks; that there will be regular NFT pack drops taking place on the platform and that there will be future auction sales of special NFT content supplied by Barrett-Jackson and the International Motorsport Hall of Fame. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

The material assumptions supporting these forward-looking statements include, among others, that the Barrett-Jackson and International Motorsports Hall of Fame will provide NFT content for the Motoclub platform; that there will be no material variations in current regulatory environments in which the Company operates; the perceived benefits from the Company’s blockchain solutions will be as expected; and the Company will be able to obtain any necessary financing on acceptable terms. 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 will be unable to efficiently build the blockchain solutions; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete the blockchain solutions; the risk that the Company may not be able to obtain additional financing as necessary; the risk that there may be increases in capital and operating costs as a result of working on the blockchain solutions; the risk that the blockchain solutions may be subject to fraud and other failures; the risk that there may be technological changes and developments in the blockchain that make the blockchain solutions obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the blockchain solutions; the risk that other competitors may release similar blockchain solutions; and other general risks involved in the blockchain solutions. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials, including its reports filed with the SEC and the Canadian securities regulators and which can be obtained from either at www.sec.gov or www.sedar.com.

Any of these risks may 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 these forward-looking statements. Further, although 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 forward-looking statements, there may be other factors that cause results, levels of activity, performance or achievements not to be as anticipated, estimated or intended. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. The Company does not assume any liability for disclosure relating to any other company mentioned herein.


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Source: CurrencyWorks Inc

2021 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2020 0,19 M - -
Net income 2020 -4,01 M - -
Net Debt 2020 1,43 M - -
P/E ratio 2020 -4,03x
Yield 2020 -
Capitalization 30,4 M 30,3 M -
EV / Sales 2019 11,6x
EV / Sales 2020 85,3x
Nbr of Employees 2
Free-Float 83,9%
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Income Statement Evolution
Managers and Directors
Bruce Elliott President & Chief Executive Officer
Swapan Kakumanu Chief Financial Officer, Secretary & Treasurer
Cameron Chell Non-Executive Chairman
James P. Geiskopf Lead Independent Director
Edmund C. Moy Independent Director
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