Sysorex Enters Non-Fungible Tokens (NFTs) Augmented Reality Market with Investment in The Hunt ...
Michael Bay, Producer and Director of Films Grossing Nearly $10 Billion, Purchases Sysorex Common Stock and Joins the Sysorex Advisory Board
Bay and Sysorex to Offer Novel NFTs Based on Bay’s Franchise Properties and Iconic Designs with Bay’s Signature Creative Approach
LOS ANGELES and MIAMI and HERNDON, Va., Sept. 27, 2021 (GLOBE NEWSWIRE) -- Sysorex (OTCQB: SYSX) (“Sysorex” or the “Company”), the preeminent, U.S.-based, publicly traded Ethereum mining and technologies company, today announced that it has completed an investment in The Hunt, a creative marketplace powered by Ethereum Blockchain technology to develop, display and sell augmented reality NFTs enhanced for immersive, mixed-reality-world platforms, and products through curated releases and experiences for the Metaverse in music, fashion and entertainment. The Hunt has already generated more than 2 million downloads with more than 500 thousand unique monthly visitors.
The Hunt is a creative marketplace powered by the Ethereum Blockchain designed for streamlined purchases or sales of NFTs, powered by augmented reality technology. The NFTs are unique, one-of-a-kind and digitally verifiable, built and stored on the Ethereum Blockchain, and ready for novel display by application, website or viewable through augmented reality glasses. The NFTs may be brought into the physical world as products or through distinctive, exceptional extended reality (XR) visual experiences.
Sysorex is leading The Hunt’s new venture and is joined in its investment in The Hunt by a number of well-regarded investors including Michael Rubin, the majority owner and CEO of Fanatics, the world’s leading provider of sports merchandise, and Executive Chairman of Ruelala and Gilt; Rocco Basilico, Chief Wearables Officer of Luxottica, the world’s largest eyewear company; and Nick Ntertsas, a prominent early-stage investor and Founder and CEO of the expansive Ethernity NFT marketplace and investor at Bitcoin.com.
Michael Bay is an American film director and producer, best known for his big-budget, high-concept action films including the iconic Transformers movies, Armageddon, Pearl Harbor, Bad Boys, The Island, Pain & Gain and The Rock. One of Hollywood’s most bankable feature film directors, he has three television shows in production and is currently producing four new films. He has won virtually every major award in the industry including Cannes’ Golden Lion, the Grand Prix Clio, and the Directors Guild of America’s Commercial Director of the Year award. His “Got Milk?” campaign resides in the permanent collection of New York’s Museum of Modern Art.
Wayne Wasserberg, CEO of Sysorex, commented, “With our experience that spans the opportunity set of the Ethereum Blockchain and Michael allowing us to support his creativity with our technology and NFTs that capture his cinematic signature, we are honored that he has become the first member of our newly-formed blockchain technologies Advisory Board and a significant shareholder of Sysorex. We set out to find the ideal company that could launch these new NFTs and that has led to our investment and development business with The Hunt, and along with Michael, we look forward to working with Natalia and her team.”
Given the rapid and expansive proliferation of the NFT market and cryptocurrencies, The Hunt’s founders strategically expanded their fashion social network business model to curated, digital immersive experiences that enhance modern culture. The Hunt takes an innovative approach to NFTs through a powerful convergence of technology integration delivering consumers a premium user experience In Real Life (IRL) and the Metaverse.
The Hunt’s breakthrough capabilities include an augmented reality app allowing users to showcase their NFT collectibles within IRL spaces. The Hunt has streamlined payment of NFTs, allowing users to purchase NFTs securely with their credit cards for a seamless checkout process. The platform will continue to expand in 2022, with a gamification rewards system and educational content incorporating the latest updates and advancements within the ecosystem of cryptocurrency and blockchain.
“We are excited to welcome Sysorex as an investor in The Hunt and we look forward to collaborating for development activities across today’s emerging technologies and in the NFT space,” said Natalia Diaz, CEO of The Hunt. “A partnership with Sysorex and their experience with the Ethereum Blockchain, where Sysorex also contributes significantly to hash rate, securing the Blockchain, will allow our businesses to grow together exponentially as we transition to the future of the internet in the Metaverse. Imagine the possibilities of NFTs capturing a new vision for Michael’s exclusive franchises including Transformers, Armageddon, Bad Boys, Teenage Mutant Ninja Turtles, Pearl Harbor, Friday the 13th and more.”
Michael Bay stated, “As I take measure of this evolving world, the proliferation of cryptocurrencies, and the platform for creative expansion provided by NFTs and augmented reality, I realize the value of my contributions that I believe will enhance the user’s experience enjoying NFTs IRL and within the Metaverse. Given Sysorex’s expertise with the Ethereum Blockchain and our joint vision, I am excited to join Sysorex’s Advisory Board and I have completed a substantial purchase of Sysorex stock so that we can be fully aligned as Sysorex expands into XR technologies and the NFT space, including with this latest investment in The Hunt.”
ABOUT SYSOREX, INC.
Sysorex, Inc. (“Company”) is a data center owner and operator and is the preeminent U.S.-based, publicly traded Ethereum mining and Ethereum Blockchain technologies company. Following the Company’s merger with TTM Digital Assets & Technologies, Inc. (“TTM”), the Company shifted its primary business focus to the mining of Ether (ETH) and opportunities related to the Ethereum Blockchain. The Company currently owns and operates approximately 10,000 NVIDIA GPUs generating approximately 500 Gigahash of computing power, which GPUs include thousands of Cryptocurrency Mining Processors (“CMPs”). These GPUs are currently online and securing the Ethereum Blockchain and generating ETH around the clock with industry leading efficiency. In addition to the mining of ETH, the Company continues to operate its wholly owned subsidiary, Sysorex Government Services, Inc. (“SGS”), a business that provides information technology products, solutions and services to federal, state, and local government, including system integrators. The Company is also advancing strategies to leverage decentralized finance (“De-Fi”) and Non-Fungible Token (“NFT”) opportunities powered by the Ethereum Blockchain.
Safe Harbor Statement
All statements in this release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements relating to the size and timing of the offering, the anticipated use of any proceeds from the offering, and the impact of the closing on the Company’s business, operations, and strategies. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.Forward-looking statements in this communication include, among other things, statements about the potential benefits of the private offering, the intended use of proceeds, and possible or assumed business strategies of the Company.
While the Company has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of the Company and its subsidiaries, which could cause actual results to materially differ from such statements, including the uncertainties related to market conditions and the completion of the offering on the anticipated terms or at all, the other factors discussed in the “Risk Factors” section of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 24, 2021 and the Company’s subsequent periodic reports, and the risks and uncertainties described in other filings that the Company made or may make with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.
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