Know Labs Inc (KNW)

[tim00mike]

Glucose sensor developer Know Labs turns its AI toward a potential new moneymaker: NFTs

https://www.fiercebiotech.com/medtech/glucose-sensor-developer-know-labs-turns-its-ai-toward-a-potential-new-moneymaker-nfts

“We were stunned to discover that the AI engine we have developed can, in addition to identifying molecules noninvasively, also create unique, digital patterns from our test data,” Know Labs CEO Phil Bosua said in a statement.

The company said it has sold over 1,000 NFTs to collectors so far, collecting more than 1,000 Ethereum, a blockchain-based cryptocurrency. Know Labs also expects to generate additional revenue from NFT sales in the current fiscal quarter and to report the earnings to the Securities and Exchange Commission in February 2022 filings.

The wearable UBand is currently being submitted for FDA review, while the pocketable KnowU device is slated to undergo clinical studies. The company also plans to launch a “200-participant internal clinical trial” to help refine its AI algorithms, Erickson said.