Menlo Park, California, Vancouver, British Columbia and Boulder, Colorado--(Newsfile Corp. - October 25, 2021) - Intellabridge Technology Corporation (CSE: INTL) (OTCQB: CRBTF) (FSE: 98AA) ("Intellabridge") is pleased to announce partnerships with LunaBulls and Terra Cards to create the first-ever utility non-fungible tokens ("NFT") in the Terra ecosystem that provide NFT owners with utility value on the Kash DeFi platform.
According to Forbes, NFT sales topped $1.2 billion in July 2021. Notable venture capital firm, Loup Ventures, estimates the total market size of NFTs to be worth over $1 trillion with an expanded market beyond $2 trillion as part of the broader metaverse trend in blockchain.
LunaBulls and Terra Cards are two of the first original NFT projects created on the Terra blockchain. Prior to this partnership, all NFT projects have been primarily representations of ownership in digital artwork; however, with this partnership NFT owners hold distinctive benefits with utility value on the Kash DeFi platform.
LunaBulls has created more than 10,000 unique profile picture ("PFP") artworks whose ownership is recorded on the Terra blockchain. There are over 13,700 members on the LunaBulls Discord server, and with this partnership, Kash has already created a special edition Kash LunaBull NFT that will enable the holder to automatically receive lifetime Diamond status on the Kash platform. This NFT will go on sale during the week of October 25th 2021.
Terra Cards is a collection of 600 NFTs representing various projects within the Terra Ecosystem, Kash DeFi included. This NFT project was created in large part as a charity initiative, with half of all proceeds being donated via Angel Protocol. Owners of any Kash Terra Card NFT will receive lifetime gold status on the Kash DeFi platform, with higher savings rates, increased token rewards for savings activity, and higher cash back rates for debit card transactions. As part of the partnership launch, special edition Terra Cards will be custom created for an auction the week of October 25th 2021.
"We see NFTs as much more than just a collection of digital artwork. We view them as digital utility assets providing value to Kash customers and network value to the Kash ecosystem, " said John Eagleton, CEO of Intellabridge. "We believe that the future of NFTs is in their utility value, and these partnerships reflect the potential of NFTs to provide meaningful benefits for NFT owners. This partnership-based approach allows us to accomplish our objective to bring next generation NFTs to our customers and network value to Kash."
About Intellabridge Technology:
Intellabridge Technology Corporation (CSE: INTL) (OTCQB: CRBTF) (FSE: 98AA) is a digital bank based on blockchain technologies that provides retail and institutional investors with access to decentralized financial applications with additional layers of cybersecurity and customer service. Intellabridge offers depositors self-custody services to empower them with complete transparency and control over their accounts through its institutional-grade platform. The Kash product features DeFi interest-bearing savings accounts, stablecoin checking, fiat-crypto on-ramps, synthetic stock, ETF and commodity investing, NFT powered rewards platform, and other DeFi banking services, with plans to offer debit cards, virtual cards, Apple Pay, Google Pay in a growing number of markets globally.
ON BEHALF OF THE BOARD of DIRECTORS
INTELLABRIDGE TECHNOLOGY CORPORATION
Maria Eagleton, COO
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This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the word "will" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
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