Metasphere Labs begins negotiations to lead integration of Pure Sky Registry LLC in groundbreaking environmental blockchain initiative

VANCOUVER, British Columbia, March 27, 2024 (Globe Newswire) — Metasphere Lab Co., Ltd. (Formerly Looking Glass Labs Ltd., “metasphere” or “company) (CBOE Canada: Labs) (OTC: Labozuf) (FRA: H1N) announced a non-binding memorandum (“memorandum”) dated March 27, 2024 Pure Sky Registry LLC (“pure sky”) Real-world assets (“RWA”) blockchain technology. Under the memorandum, the company is exploring a committee to integrate PureSky’s pioneering carbon credit registry with blockchain technology, a major step forward in its environmental sustainability efforts. Pursuant to this Memorandum, the Company also submits a comprehensive statement of work (“sowing seedsPure Sky Registry Web Application and Pure Sky Decentralized Autonomous Organization (“dao”) and carbon credit registry smart contracts. This SOW will serve as the basis for future contractual agreements regarding the project.

Natasha Ingram, CEO of Metasphere, said of the partnership: “We are proud to consider partnering with Pure Sky, which is leading the blockchain integration effort. This project not only demonstrates the potential of blockchain in environmental sustainability, but also increases transparency in carbon credit markets. and setting new benchmarks for efficiency.”

Pure Sky operates as a DAO on the Ethereum blockchain, emphasizing a participatory governance model and leveraging smart contracts to ensure integrity and accountability. “This integration by Metasphere will revolutionize the way we approach carbon credit trading, increasing the accessibility and efficiency of our platform,” said Marty Seymour, Managing Director, Pure Sky. .

This initiative is timely and follows trends in the integration of traditional financial mechanisms and blockchain technology, as demonstrated by BlackRock’s partnership with Coinbase to launch the BlackRock Institutional Digital Liquidity Fund. It reflects the rise. This move signifies the financial industry’s growing awareness of the potential to revolutionize the financial landscape of RWAs and digital assets, of which carbon credits are a prime example.

story continues

About PURE SKY REGISTRY LLC

Pure Sky Registry LLC, a Web3 carbon credit registry, focuses on the authentication and tokenization of carbon credits, promoting environmental sustainability through blockchain technology.

About Metasphere Lab

Metasphere Labs (“LABZ”), headquartered in Vancouver, British Columbia, develops Metasphere environments, DAO solutions, and games with the goal of solving social coordination problems to tackle climate change and positively impact the planet. mification, developing Web3/blockchain monetization strategies.

for further away information, please contact

Natasha Ingram, CEO
Email: info@metasphere.earth

positive information

This news release contains “forward-looking statements.” Statements in this news release that are not purely historical are forward-looking statements, including statements regarding beliefs, plans, expectations and intentions regarding the future. Such forward-looking statements include, among other things, any definitive agreements that may result from the SOW provided for the development of Pure Sky, other open metaverse projects, and virtual world projects.

Important assumptions supporting these forward-looking statements include, among others: did it reduce of risk related and of blockchain and NFT industry; of ability to Compete with other businesses in the NFT, Metaverse and blockchain markets. the availability of sufficient funds to execute our business development plans; Favorable market environment. and whether the product will be accepted by the market.

Although management believes these assumptions are reasonable based on currently available information, to that, They are May prove to Get used to it Incorrect. these Positive statement teeth only prediction They involve known and unknown risks, uncertainties and other factors. This includes the continued growth and adoption of NFT, Metaverse, and blockchain products. The cost of developing and designing NFTs and metaverses is economically viable.the Company’s ability to attract and retain a sufficient workforce; and desirable skill set to Develop of Company’s Digital An offering. of availability an offering offered by third party in of NFT, metaverse development and online game market to Identify potential deals.Increased adoption of NFTs as a solution for various online games and entertainment and collectibles Usage; of company have of ability to reduce of risk related and Blockchain and NFT industry. and our ability to compete with other businesses in the NFT, metaverse development, content creation and collectibles markets.

Although management believes these assumptions are reasonable based on currently available information, to that, They are May prove to Get used to it Incorrect. these Positive statement teeth only prediction They involve known and unknown risks, uncertainties and other factors. the risk that our products will not be well received by consumers and that other competitors may offer similar digital products; risks that could result in negative changes in general economic or business conditions; the risk that our operating cash flow will become negative and we will not have sufficient capital to complete technology development;Risk that the Company will not be able to receive additional financing as need; of danger that There May Get used to it To increase in capital and operating cost. of danger that NFT technology May Get used to it subject to scam and other failure; of danger that There May Get used to it Technical Blockchain changes and developments that make NFT solutions obsolete. risks related to regulatory changes or actions that may impede the development or operation of blockchain solutions;the risk of other competitors May release resemble blockchain An offering. of potential future non-viability of of NFT market in general. The variable cost of the amount of computation required to perform certain operations on the blockchain, and other common risks involved in blockchain solutions.

The risks and uncertainties relating to our business are further described in our disclosure documents, including reports filed with Canadian securities regulators, which are available below. www.sedarplus.ca.

Any of these risk May cause of Company’s actual result, level of activities, performance or results to Get used to it materially different from Any future result, level of activities, performance or Achievements expressed or implied by these forward-looking statements. Furthermore, although we have attempted to identify the contributing factors; that may actually cause result, level activity, performance or Achievements to substantially different from Them explained in Positive statement, There May Get used to it other factor that cause result, level that our activities, performance or results will not 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 any forward-looking statements or the possibility that actual results will differ from those anticipated in the forward-looking statements. We are not obligated to update for any reason. except as required by applicable law, including U.S. and Canadian securities laws. We agree that any beliefs, plans, expectations or intentions include Although the contents of this news release are reasonable, they do not come with any guarantees. like that belief, schedule, expectations or intention intention prove to Get used to it Accurate. of company do do not have We are not responsible for disclosures regarding other companies mentioned herein.

sauce: Metasphere Lab Co., Ltd.