Instacoin UK Provides Progress Report Toward Full Scale Launch of IOS and Android Mobile App
Codebase Ventures Inc. ("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to announce that the Company's non-fungible token (NFT) investment, Instacoin UK, has provided an update on its progress
"The Instacoin UK app is progressing rapidly, with development work addressing security for customers by removing reliance on social logins, updating compliance with new IOS for iPhone, and production on an Android version of the mobile App," said Mr. Gianni O'Connor, Instacoin Technologies Founder.
Instacoin (Mobile App) Development Highlights
- The company has created 250 NFTs which will be available on launch
- Following the recent events with Facebook and Instagram downtime, the company has restructured the app to not be reliant on a social login to ensure legal and privacy compliance and providing the most reliable and trusted user experience
- Following the launch of the new iPhone, a few changes have been made to the app, to assist with compliance issues and updated operating systems.
- Instacoin has begun production on the Android version which is expected to be released in late December and available in up to 6 languages.
Instacoin is positioned as the world's first self-serve social NFT platform. Instacoin will allow users to connect their social profiles to the blockchain and create instant NFT tokens from their own content. Followers and fans connect in the open market for immediate sales.
With a one-off cost of $1 per NFT, this simple streamlined model will aim at targeting the millions of existing social media users to create sales and drive revenue instantly as well as a lifetime commission model from the secondary markets.
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 announces that it has entered into an advertising and investor awareness campaign with Dig Media Inc. dba Investing News Network (INN). INN is a private company headquartered in Vancouver, Canada, dedicated to providing independent news and education to investors since 2007. For the 12-month term of the agreement from August 31st, 2021, INN will provide advertising on its website and social media communications to increase awareness of the Company. INN does not provide investor relations or market making services. The cost of the campaign is $27,000 CAD. INN can be reached at 604-688-8231 or www.investingnews.com, email@example.com. The Company has also agreed to engage Aktiencheck.de AG, owned by Stefan Lindam (collectively, "Aktiencheck"), for €50,000 for a European marketing and news dissemination program. The length of such program depends upon the volume of the Company's future news flow.
The Company has also cancelled a total of 9,550,000 stock options, including 2,800,000 to insiders as they were no longer serving their purpose in aligning the interest of the holders with those of shareholders.
About Codebase Ventures Inc.
Codebase Ventures Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem and fintech. The Company identifies such opportunities and applies its relationships and capital to advance its interests.
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Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates", "may" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, lack of investor demand for Bitcoin and/or Bitcoin futures exchange traded funds, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Codebase Ventures Inc.
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