New, London U.K. Based Firm Establishing World Leading Self-Serve Social NFT Platform
VANCOUVER, BC / ACCESSWIRE / April 6, 2021 / Codebase Ventures Inc. ("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to announce that the Company has invested in InstaCoin, a UK based NFT (non-fungible token) startup. Codebase's investment of £100,000 equates to a 50% share of the new London based NFT firm InstaCoin.
"Code has worked with the principals behind InstaCoin through our existing TRAD3R investment and we continue to be very excited by their innovative approach within the blockchain ecosystem," said Mr. George Tsafalas, Codebase President and CEO. "Our existing relationship put us in a position to seize this opportunity, which allows Code to establish a 50% equity position at an early stage of the venture that aims to democratize NFT's rather than focus primarily on multi-million dollar individual components."
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.
The firm behind InstaCoin, previously was known for TRAD3R, has already achieved success with a social trading platform with millions of users across the world.
"After we built TRAD3R, we already understood what it meant to take complex stock trading and make it simple and appealing; we're just reapplying that same skill set with InstaCoin and the NFT market," says the team's Head of Blockchain Rabin Zhang
The recent interest around NFT has been focused on single expensive tokens, for instance Mad Dogs "Crash & Burn," which sold at over $3.9M.1 InstaCoin has a different approach as explained by its founder Gianni O'Connor;
We think the future is in millions of low cost NFTs ranging from $2-$20. We know that millions of people around the world have powerful cameras 24/7 via smartphones which makes them content creators already. With Instacoin they can now financially capitalize on that content."
Codebase Ventures is a founding investor in InstaCoin and was previously a significant investor In TRAD3R. As such it is poised to assist in growing this new company and capitalizing on the growing yet exciting new market of NFTs.
1 https://news.artnet.com/market/phillips-mad-dog-jones-nft-1956730
Note: In the previous press release on April 1st, 2021, the Company referred to TRPL (Transdermal Research Pharm Laboratories), which should have read RRL (Reformulation Research Laboratories Inc.)
About Codebase Ventures Inc.
Codebase Ventures Inc. seeks early-stage investments in sectors that have significant upside. We seek innovators who are establishing tomorrow's standards. We support those innovators and help take their ideas to market.
For further information, please contact:
George Tsafalas - Ivy Lu
Investor Relations
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: IR@codebase.ventures
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE: Codebase Ventures Inc.
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