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Thursday, January 13, 2022 10:30:27 AM

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$UAMM UA Multimedia to Acquire Virtual Land and Start Development of Play-to-Earn Game on Sandbox Metaverse Company to expand its art NFTs to include game asset NFTs
January 13, 2022 10:00 ET | Source: UA Multimedia, Inc.

IRVINE, CA, Jan. 13, 2022 (GLOBE NEWSWIRE) -- UA Multimedia, Inc. (OTC Pink: UAMM), a technology holding company and solution provider in the areas of blockchain, cryptocurrency, decentralized finance (DeFi), NFT and metaverse, today announces its initial entry into the metaverse by land acquisition and developing a Sandbox Play-to-Earn game.

Sandbox is built on the Ethereum blockchain and is one of the most dominant players in the metaverse and gaming industry. Sandbox allows users to acquire virtual land and use it to create their own world. The content and applications developed for the virtual world can also be monetized.

UAMM will start its metaverse initiative by acquiring a plot of land in Sandbox and develop it to host entertainment and marketing events. The Company also plans to monetize by developing a Sandbox Play-to-Earn game as well as game assets which can be sold as NFTs.

In addition to Sandbox, the Company is also considering establishing a presence in Decentraland in the near future. Decentraland is another major metaverse player who also has numerous prominent partners. By diversifying its presence, UAMM can target a broader range of audience for its products and services.

The Company continues to actively build out its ecosystem which consists of three main components: DeFi (DEX), NFT marketplace and Metaverse.

The GogiSwap DEX has yet to gain big traction but is working well. The platform is being upgraded with additional features as well as performance enhancement. The Company expects usage to increase as it places more efforts on marketing in the upcoming weeks.

To provide more exposure and venues to acquire GOGI, the Company is working on listing the token on additional exchanges and data sites.

The NFT marketplace launch is slightly delayed due to the additional time needed to test the fixes for the recently found bugs and missing features. Additional time is also needed to work with various creators to list and feature their pieces on the platform. All creators who wish to participate are encouraged to contact the Company at info@uammedia.com.

Aside from finalizing the development of the marketplace, UAMM will also list its Galaxy Walker NFT shoe collection on OpenSea in the upcoming days. The collection will gradually expand over time according to demand.

Other NFT collections are also in the works, and additional information about them will be provided as the projects mature.

“We are excited to ramp up our metaverse initiative beginning with Sandbox,” commented Michael Lajtay, CEO of UA Multimedia. “Sandbox has a uniquely versatile ecosystem from which we can build on and monetize. We now have a number of promising crypto projects in our pipeline which should elevate UA Multimedia onto another level and allowing us to pursue acquisitions and more significant projects.”

https://www.globenewswire.com/news-release/2022/01/13/2366612/0/en/UA-Multimedia-to-Acquire-Virtual-Land-and-Start-Development-of-Play-to-Earn-Game-on-Sandbox-Metaverse.html

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