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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  CurrencyWorks Inc.    CWRK

CURRENCYWORKS INC.

(CWRK)
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CurrencyWorks Announces 27 Hour Sell-Out of $100,000 of Digital Collectibles for the Topps Company on the WAX Blockchain

07/29/2020 | 09:16am EST

CurrencyWorks facilitated and processed a sellout of limited edition, blockchain-authenticated digital collectibles for Garbage Pail Kids TM

branded digital trading cards

Los Angeles, July 29, 2020 (GLOBE NEWSWIRE) -- CurrencyWorks Inc. (“CWRK”) (TSXV and OTCQB: CWRK), provides platforms which build digital currencies and provides a suite of products and services to create more transactions for brands, announced today the sell-out of the first digital collectible series for the Topps Company of the Garbage Pail Kids Series 1 on the WAX NFT (Non-Fungible Token) Platform.

The Topps Company, Inc. is the preeminent creator and brand marketer of physical and digital sports cards, entertainment cards and collectibles, and distinctive confectionery products. Since 1938, Topps trading cards have become synonymous with Major League Baseball, Star Wars, WWE, Garbage Pail Kids as well as other major sports leagues and iconic entertainment properties.

Garbage Pail Kids is a series of sticker trading cards produced by the Topps Company. Originally released in 1985 and designed to parody the Cabbage Patch Kids dolls, which were popular at the time.

The $100,000 Garbage Pail Kids Series 1 inventory of NFT digital collectibles comprised packs of 5 cards for $4.99 and 30 cards for $24.99 as digital trading cards which can be held in digital wallets or traded on the platform. These sold out in just over 24 hours between May 11-12, 2020 with payment processing via Stripe. This is the first project for CurrencyWorks to support the WAX NFT platform.

The advantage of using the WAX NFT platform is that it allows users to trade collectibles instantly - worldwide, trade with confidence that every collectible is certified authentic, unique, and can never be altered and the ability to view a collectible’s full ownership record and trading history.

CurrencyWorks President Bruce Elliott noted, "Our first offering where CurrencyWorks supported WAX purchases and it was a great success. With the incredible work done by WAX and the processing provided by CurrencyWorks, $100,000 in Garbage Pail Kids digital collectibles sold out quickly. The future of digital collectibles is definitely blockchain enabled!”

Cameron Chell, Chairman of Currency Works said "We believe that Digital Collectibles are a new and powerful asset for any brand to engage customers plus fans and most importantly to increase and drive transactions within a brands community. We are looking forward to upcoming releases of digital collectibles.”

About The Topps Company

Founded in 1938, The Topps Company, Inc. is the preeminent creator and brand marketer of physical and digital sports cards, entertainment cards and collectibles, and distinctive confectionery products. Topps' leading sports and entertainment products include Major League Baseball, Major League Soccer, UEFA Champions League, English Premier League, Bundesliga, Star Wars, WWE, UFC, Wacky Packages, Garbage Pail Kids, Mars Attacks and other trading cards, sticker album collections and collectibles. Topps' app portfolio, including Topps BUNT®, Topps NFL HUDDLE®, TOPPS KICK® and Topps® Star Wars Card Trader, has been a hit with millions of fans around the world. Topps' confectionery brands include Ring Pop®, Push Pop®, Baby Bottle Pop®, Juicy Drop® Pop, and Bazooka® bubble gum. Topps was acquired by Michael Eisner's Tornante Company and Madison Dearborn Partners in October 2007. For additional information, visit Topps.com and Candymania.com.

Contact:
Susan Yin
syin@rogersandcowan.com

About Wax

WAX is an all-in-one blockchain platform enabling developers to easily create, sell and trade digital goods to empower businesses to profit from the next era of digital commerce. For more information, please visit https://wax.io, Twitter, YouTube and Telegram.

Worldwide Asset eXchange, WAX and Crypto Collectibles are trademarks and the sole property of Worldwide Asset eXchange.

About CurrencyWorks

CurrencyWorks Inc. (TSX: CWRK and OTCQB: CWRK) is a publicly-traded company redefining the transaction value chain for customer attraction, engagement and retention by providing platforms which build digital currencies and provide a suite of products and services to create more transactions for brands and increasing transactions through the creation and implementation of their own digital currency. CurrencyWorks partners with established brands who have large customer bases, fan followings, or online communities. CurrencyWorks acts as a vendor or joint venture to launch and develop digital currencies to solve real-world problems and create more transactions.

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

Investor Inquiries
Phone: 424-570-9446 ext. 8
ir@currencyworks.io 

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© GlobeNewswire 2020
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Financials (USD)
Sales 2019 0,25  - -
Net income 2019 -4,60 M - -
Net Debt 2019 1,53 M - -
P/E ratio 2019 -0,38x
Yield 2019 -
Capitalization 8,91 M 8,91 M -
EV / Sales 2018 -
EV / Sales 2019 13,2x
Nbr of Employees 3
Free-Float 85,5%
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Income Statement Evolution
Managers
NameTitle
Bruce Elliott President & Chief Executive Officer
Cameron Chell Non-Executive Chairman
Swapan Kakumanu CFO, CAO, Secretary & Treasurer
James P. Geiskopf Lead Independent Director
Michael A. Blum Director
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