The shareholders of Shockwork, a producer of games listed on NewConnect, agreed to finance the development of activities in the NFT and metaverse sectors by increasing the Company’s share capital by issuing no more than 2,200,000 ordinary series H bearer shares at an issue price of PLN 0.70 per share. The funds obtained from the issue will allow the Company to expand its operations in the NFT sector and expand its offer, among others o play-to-earn games, as well as take part in projects in the areas of web3: decentralized finance (DEFI) and decentralized applications (DAPP).
Shockwork Games SA is planning development in the NFT sector and metaverse
The Management Board of the Company informs that the above-mentioned areas will constitute the pillars of the new strategy of the Company, which Shockwork intends to publish in the near future. The shareholders also decided to change the name of the Company to Metaversum SA, which will fully reflect the new profile of the Company’s operations. – The consent of shareholders to the issue of shares opens the way for us to enter the very prospective world of metavers technologies, such as NFT, DEFI or DAPP. For many months we have been observing and analyzing development opportunities in the above-mentioned markets and we have made a decision to direct our development primarily in this area; we have also created a team that develops the company’s portfolio. Therefore, we proposed to the Shareholders to change the name to Metaversum SA The new name fully reflects our plans and new segments that we intend to operate. We are glad that the Shareholders also noticed the need for change and supported our proposal – comments Radomir Woźniak, CEO of Shockwork. NFT, or Non-fungibletokens, are technological solutions based on blockchain technology, which – as an element of the emerging world of web3 – have a chance to change the face of the Internet. In 2021, the NFT token market grew dynamically. The latest NFT statistics suggest that non-convertible tokens could be one of the most exciting trends ever to hit the cryptocurrency market. DAPP (decentralizedapplication) is a new type of blockchain-based peer-to-peer application. DAPP applications outperform the web application environment due to smart contracts, blockchain transparency and cybersecurity. The DEFI (decentralized finance) segment, which includes all decentralized financial instruments based on blockchain technology, is directly related to DAPP. – In the coming weeks, we will publish a detailed development strategy for the Company, we can now open the veil of secrecy and reveal that we will present, among others, play-to-earn games, i.e. video games where players can earn real-value rewards using NFT elements. In play-to-earn games, everyone can get virtual items that can be sold and generate income, which makes the game even more attractive. We also see a part of the NFT and crypto market more interesting than p2e games, in which we want to be present with our products, which we have been working with for several months – adds Radomir Woźniak. Shockwork Games SA (in the process of changing its name to Metaversum SA) intends to continue the production of games while focusing on blockchain technology and related NFT tokens, which connect the world of finance and games, providing players with opportunities to earn money while playing. In addition, the Company is in the process of building a team and relationships with external entities in order to develop NFT-based games and implement metaverse projects.
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