NetCents Technology Developing Smart Contract Product for Merchants and Users on a Global Basis
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Announces Its First Collaboration with a Leading Sports Agency
Vancouver, British Columbia – December 4, 2020 – NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) (“NetCents” or the “Company“), a cryptocurrency payments company, is pleased to announce that it is developing a smart contract-based non-fungible token1 (NFT) platform for use by its merchants, and ultimately its user base to allow authenticity and provenance tracking of products using Ethereum smart contract technology. This product opens up a whole new use case for the development of the blockchain universe.
Non-fungible tokens contain identifying information recorded in their smart contracts. It’s this information that makes each NFT different and as such, they cannot be directly replaced by another token. They cannot be swapped like for like, as no two are alike. Banknotes or Bitcoin, in contrast, can be simply exchanged one for another, if they are the same value, there is no difference to the holder.
With this innovation, NetCents is immediately focusing on the sports authentication/memorabilia market and has recently signed a partnership with The Human Interest Group based in Boulder, Colorado. Together, NetCents and the Human Interest Group will be bringing the first application of the technology to market allowing buyers and sellers of merchandise to prove ownership and authenticity of the item when purchased through the NetCents platform. The companies will also be co-developing industry specific perks aligned with NetCents’ cryptocurrency business solutions to benefit merchants, athletes, and consumers in active lifestyle markets.
Cryptocurrency experts expect NFTs to find broad acceptance in the collectible, sports memorabilia, gaming, art, jewelry, and other areas where rare items are bought and sold. NFT’s have already gained mainstream adoptions with Formula 1, NFL, NBA, Vodafone, Louis Vuitton, and Nike beginning to use NFT’s for their products2.
“We have spent 2019 building our technology – and 2020 deploying it,” stated Clayton Moore, Founder and CEO of NetCents Technology. “We have proven that we can make completing a transaction using crypto as seamless as using a debit card. Our future vision for 2021 and beyond includes creating products that makes crypto the PREFERRED solution. It ADDS and ENHANCES the value of a transaction that traditional payment methods cannot replicate. That is where we’re going, and we are thrilled to be leading this new future!”
The Company has experienced rapid growth in 2020 within its existing ecosystem. In October, the Company announced that it had exceeded $27 million in transactions within the Company’s platform in 2020, with much of this growth attributable to the Company’s focus on B2B merchant base globally. To drive future growth and diversify the Company’s revenue and technology portfolio, the Company will continue to innovate and bring new products to market, like the NFT platform and expand into new markets like the North American sports industry and their over USD 75 billion dollars in annual revenue3.
The Human Interest Group represents and has worked with world-class athletes worldwide and major sports leagues, including the NFL, NHL, and MLB. The goal of this collaboration is to bring merchants and athletes from around the world together in a specially created ecosystem that enables athletes, and ultimately their fans, to be part of combining their love for sports, and trading of unique sports paraphernalia, with the expanding interest in the use of cryptocurrencies around the world.
“Elite world-class athletes are the best at what they do and are always searching for new boundaries to explore. Well, this is entirely a new boundary marrying up the physical world with the intangible crypto world,” stated Franko Vatterott, Founder of The Human Interest Group. “We are excited to be the first group to work on this venture with NetCents. Additionally, it is exciting to think of athletes, sponsor brands and ultimately, users coming together in a unique forum that has never been done before. It truly is a new world.”
Owners of rare physical products, who are often subject to concerns around its authenticity, will be able to utilize NetCents’ technology to create their own unique NFT. This one-of-a-kind authentication goes on the blockchain with a timestamp, thereby assuring merchants and consumers alike that the item in their possession is indeed the genuine item.
A potential use case of an NFT in this scenario would be a branded authenticated digital photo issued in a numbered series to purchasers from a specific Merchant, perhaps as part of a Holiday Promotion. The user would receive the memorabilia – which is authenticated on the blockchain. The only way to get the NFT would be to complete the transaction through the NetCents technology available through the dedicated website created in conjunction with the team at The Human Interest Group.
NetCents and The Human Interest Group will be sharing the broad nature of their relationship and capabilities in a future press release.
About The Human Interest Group
The Human Interest Group (HIG) is a sports marketing and business development firm focused on developing specialized projects between world-class endurance athletes, brands, and end-user consumers. We have designed, executed, and consulted in cutting-edge marketing campaigns for organizations of all sizes; from start-ups, to global brands, to foreign governments. The Human Interest Group has over 45 years of combined experience in business development, marketing, and brand association with world-class athletes, sports organizations, and corporations. HIG’s principal and staff have a broad spectrum of work experience in many professional sports circles including Ironman triathlon, professional Cycling, NFL, MLB, NHL, Premier League Soccer, and various Olympic Committees, plus the insider knowledge of the sports worlds of triathlon, running, boxing, swimming, and skiing.
HIG works with 21 athletes currently and 19 are outside of North America. Some key players they have worked with in the past, or currently, include Justin Gatlin who is a 5X Olympic medalist, Dave Scott the first 6X Ironman Hawaii Championship winner, and Craig Alexander, a former 2X Ironman World Champion.
HIG website is www.humaninterestgroup.org.
About NetCents
NetCents Technology Inc, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.
For more information, please visit the corporate website at www.net-cents.com or contact Investor Relations: [email protected].
To keep up on the latest – make sure to join the telegram channel http://t.me/NetCents.
On Behalf of the Board of Directors
NetCents Technology Inc.
“Clayton Moore”
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
1000 – 1021 West Hastings Street
Vancouver, BC, V6E 0C3
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
1A non–fungible token (NFT) is a particular type of cryptographic token representing something unique; non–fungible tokens are thus not mutually interchangeable. This contrasts with cryptocurrencies like bitcoin and many network or utility tokens that are fungible in nature. https://cointelegraph.com/magazine/nonfungible-tokens/#/
2https://cointelegraph.com/magazine/nonfungible-tokens/#fungible-vs-non-fungible
3https://www.statista.com/statistics/214960/revenue-of-the-north-american-sports-market/
