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CMGR - Clubhouse Media Inc News Story

$6 -0.5  -7.8%

Last Trade - 11/05/21

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £433.3m
Enterprise Value £434.8m
Revenue £716k
Position in Universe 3331st / 6852

Clubhouse Media to Leverage Its 280M Global Social Media Reach in Blossoming NFT Market with New Crypto Content Strategy

Wed 21st April, 2021 1:30pm
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LOS ANGELES, April 21, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Clubhouse
Media Group, Inc. (OTCMKTS:CMGR) (“Clubhouse Media” or the “Company”),
an influencer-based marketing and media firm with a vast aggregate global
social media reach, is excited to announce that the Company has begun
preparations toward the launch of a new content house focused on the creation,
tokenization, and sale of unique digital artwork and content items associated
with non-fungible tokens ("NFT"s).

BlockhouseCH will seek to leverage the Company’s strong network to bring
together leading artists, influencers, and experts in personal finance,
cryptocurrency investing, and the NFT marketplace. In addition, through
BlockhouseCH, the Company intends to tokenize content from in-house creators
to be marketed on platforms such as rally.io
(https://www.globenewswire.com/Tracker?data=FOtLnzqnmBTFsSuVv8bjPLnLlTL3lqDPt521yQZriuYow_pNlp4-Q1AFN3zh4DE9).
It will also attempt to identify opportunities centered on promising digital
artwork that can be acquired, tokenized, and marketed, with the Company’s
powerful influencer network helping to market such items.

BlockhouseCH will also provide expert social media content tailored to those
interested in cryptocurrencies, angel investing, personal finance, and
alternative stored value opportunities, including collectibles.

Chris Young, President of Clubhouse Media, commented, “BlockhouseCH will be
one of the world’s first crypto-centric content houses, bringing together
real expertise in the cryptocurrency and NFT space and pairing that expertise
with heavy hitters on the influencer side to create content designed to
resonate with those interested in personal finance, NFTs, and cryptocurrency
investing and deliver it to a massive global audience through leading social
platforms.”

A non-fungible token, or NFT, is a unit of data stored on a blockchain that
certifies the uniqueness of a digital asset (a piece of content, a song, a
picture, a highlight, a video clip, a tweet, or any other piece of digital
information that may have cultural value). By purchasing an NFT associated
with a digital asset, one can own it as a unique non-fungible asset, even
though other people may still be able to view and share the associated
content.

“By analogy, anyone can go to an art museum and look at a painting,”
continued Young. “And anyone can buy a print of the painting or take a
picture of it. But only one entity can own the original painting. To carry the
analogy further, the more popular the painting becomes, and the more prints of
it are bought and imaged online, the more valuable the original painting
becomes, with all of that value conferring singularly to the owner of the
original painting. The same logic applies to the NFT market, where we have
seen enormous growth over the past year.”

Major NFT marketplaces such as Rarible and Opensea have seen sales rise
between 50-fold to 100-fold in the past three months. Leading venture capital
firms have started to fund new platforms, and more platforms are anticipated.
In first quarter of 2021, the combined market cap of major NFT projects has
expanded 1,785%, according to Forbes.com.

Management believes the cryptocurrency marketplace is set to become the port
of entry for all internet media over time. Tokenization makes the internet
ownable, which is a breakthrough on an enormous financial scale that may form
the basis for one of the most important trends in finance over coming years.
Clubhouse Media is a content-driven enterprise that has already built a
massive global content distribution footprint. BlockhouseCH will seek to
leverage that reach to position Clubhouse Media as a leader in this trend.

Details, including BlockhouseCH location and team members, will be disclosed
soon in upcoming Company communications.

About Clubhouse Media

We believe Clubhouse Media represents the future of influencer media and
marketing, with a global network of professionally run content houses, each of
which has its own brand, influencer cohort and production capabilities.
Clubhouse Media offers management, production and deal-making services to its
handpicked influencers, a management division for individual influencer
clients, and an investment arm for joint ventures and acquisitions for
companies in the social media influencer space. Clubhouse Media’s management
team consists of successful entrepreneurs with financial, legal, marketing,
and digital content creation expertise.

Please follow us on Twitter: twitter.com/ClubhouseCMGR
(https://www.globenewswire.com/Tracker?data=MPhIncGvBNEHKBTj9EsGH2Ti60vE4DiEuYQh3wgi6vseKuqdo3cJQNHksqSqLulPCLhOJ2LmCXT6VmwrvUuclmgSeQlQZhAv6uGfOqQ_26i7eF5ZClM0TfDavwz44vyd)

FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements"
within the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking statements also may
be included in other publicly available documents issued by the Company and in
oral statements made by our officers and representatives from time to time.
These forward-looking statements are intended to provide management's current
expectations or plans for our future operating and financial performance,
based on assumptions currently believed to be valid. They can be identified by
the use of words such as "anticipate," "intend," "plan," "goal," "seek,"
"believe," "project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "would," "could," "will" and other words of similar meaning
in connection with a discussion of future operating or financial performance.

Examples of forward-looking statements include, among others, statements
relating to future sales, earnings, cash flows, results of operations, uses of
cash and other measures of financial performance.

Because forward-looking statements relate to the future, they are subject to
inherent risks, uncertainties and other factors that may cause the Company's
actual results and financial condition to differ materially from those
expressed or implied in the forward-looking statements. Such risks,
uncertainties and other factors include, among others such as, but not limited
to economic conditions, changes in the laws or regulations, demand for
products and services of the company, the effects of competition and other
factors that could cause actual results to differ materially from those
projected or represented in the forward-looking statements. Any
forward-looking information provided in this release should be considered with
these factors in mind. We assume no obligation to update any forward-looking
statements contained in this report.

Corporate Contact
 Simon Yu, MBA
 Phone: +1-702-479-3016

Investor Relations
 Tiger Marketing & Branding Agency
 info@TigerGMP.com

Wire Service Contact
 InvestorWire (IW) 
 Los Angeles, California
 www.InvestorWire.com
 212.418.1217 Office
 Editor@InvestorWire.com



GlobeNewswire, Inc. 2021
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