March 31, 2021
VANCOUVER, BC, CANADA (March 31st, 2021) – Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE: CODE – FSE: C5B – OTCQB: BKLLF) is updating its blockchain ecosystem investment strategy as the Company and its advisors actively explore NFT (non-fungible token) assets. Given the Company’s current portfolio of blockchain ecosystem assets, NFT’s represent a natural progression of its strategy.
After the sale of Beeple’s NFT fetching $65M1 at auction earlier this month, the interest in non-fungible tokens has moved to the forefront as investors and speculators turn to blockchain-based NFTs as potential investment vehicles. With over $100 million worth of digital art and collectables being sold on the open market in the past 30 days,2 NFT’s are one the fastest growing areas of blockchain and blockchain-based assets.
Jack Dorsey, the CEO and Co-Founder of Twitter further fueled the flames after selling his own NFT of the first ever ‘Tweet’ published to Twitter for $2.9M.3 Time Magazine followed suit, releasing plans to auction off three unique NFTs of TIME’s most iconic magazine covers.4
“In any market experiencing explosive growth, there are always going to be pioneers pushing the space forward and those who are looking to profit, Code is the former, a pioneer with the expertise and strong network that is focused on the next generation use cases for NFT’s,” comments Codebase advisor, Mr. Jake Chernoff. “We’ll see NFTs emerge in non-conventional areas of our lives, with tokenizing of real-world assets and important documents on the blockchain being a few I believe we’ll see sooner than later. In the long term it is the real-world use cases that excite us most, and represent the areas we will focus our attention towards.”
As Codebase navigates the quickly developing world of NFTs by leveraging their relationships and newly acquired expertise, they will look to invest in the next generation of NFTs and the companies that they believe will continue to push the space forward.
A non-fungible token or NFT, is a unique token or asset existing on a blockchain such as Ethereum. Unlike other popular cryptocurrencies such as Bitcoin or Ethereum which are fungible, meaning they can be swapped or exchanged with other coins of the same type. NFTs contain unique data and cannot be replicated or exchanged with similar tokens, making them non-fungible in nature. In simpler terms, this means that the asset is “one-of-a-kind” and can be verified authentic using the blockchain.
The Company also announced that it has engaged Digitonic Ltd. for $216,000 USD to provide investor awareness services over a 2-month period.