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WENZHOU, China, May 10, 2021 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International" or the "Company"), is pleased to announce that xSigma Corporation, a subsidiary of the Company and a blockchain R&D lab, announces that the xSigma NFT Marketplace will go live on the 25th of June. Visit our website, sign up, and see what is to come for our NFT Marketplace at: https://xsigma-nft.com
In addition, xSigma is pleased to reveal that the xSigma NFT Marketplace will be supported by both the Binance Smart Chain ("BSC") and the Ethereum network upon its launch. The Company has chosen to use the BSC as it has gained impressive traction so far by the blockchain community, where they are transacting over 7 million transactions a day, it has more active wallets than Ethereum, and the Total Value Locked in DeFi projects on the BSC has reached $36 billion.
The NFT industry keeps growing and attracting more creators and customers. Since the Company's last announcement about the xSigma NFT Marketplace, the NFT industry's cumulative sales volume has surpassed $1.6 billion, according to DappRadar.com.
To date, the xSigma NFT Marketplace has collected thousands of subscriptions to its waitlist. xSigma is currently working on getting celebrities, athletes and brands onboard to its NFT culture marketplace and more exciting news about the xSigma NFT Marketplace will be revealed in the coming weeks.
Mr. Huang, Chairman of xSigma, stated, "we are pleased to announce that we are moving quickly into the next boom of the monetizing of digital assets of the innovative industry known as Non-Fungible Tokens. We have invested into xSigma to create value and we are excited of having the xSigma NFT Marketplace going live at the end of June."
What are Non-Fungible Tokens?
Non-Fungible Tokens ("NFTs") are easily exchangeable and individually unique digital assets which are held on certain blockchains, mainly Ethereum but also others such as Binance, Flow, Wax, and many others.
One of the key differences between Cryptocurrencies and NFTs is that every NFT is completely and not directly interchangeable with any other asset by identity, value, and/or utility. Every NFT is composed of metadata which gives each one their individuality. These attributes can include size, artist name, scarcity etc. NFTs not only exist in a digital space but crucially they can also represent any type of physical asset, acting as a kind of "digital twin" to anything existing in the real world and enabling the ownership and exchange of physical possessions within digital marketplaces.
True ownership is one of the defining key components of any NFT and, as the digital economies continue to thrive, there is no doubt that NFTs will play a pivotal role in bringing the digital and physical worlds closer to one another than they have ever been before.
According to the report by Canadian-based analytics company NonFungible, they indicated that "the total market cap for project-based NFTs finished was $338 million at the close of 2020. Messari research analyst Mason Nystrom believes this figure could rise to more than $1.3 billion in 2021." The report goes on to indicate, that it is predicting that 2021 is poised for "a new Bull Market in the NFT industry."1
1 New report predicts NFTs will explode in popularity during 2021 (cointelegraph.com)
About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is preparing to capitalize on the $850 Billion commitment made by the Chinese Government to improve the quality of water, which in its current supply state is 70% unfit for human contact. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors. ZK has supplied stainless steel pipelines for over 2,000 projects, which include the Beijing National Airport, the "Water Cube" and "Bird's Nest", which were venues for the 2008 Beijing Olympics. Emphasizing superior properties and durability of its steel piping, ZK International is providing a solution for the delivery of high quality, highly sustainable, environmentally sound drinkable water to not only to the China market but to international markets such as Europe, East Asia and Southeast Asia.
For more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on Twitter, Facebook, YouTube, and Weibo. For further information on the Company's SEC filings please visit www.sec.gov.
About XSigma Corporation
XSigma Corporation, is a subsidiary of ZK International Group Co., Ltd. Together with ZK International, has launched xSigma as a research and development lab back in 2018 to solve real-world infrastructure challenges. Its mandate was to explore new opportunities in smart contracts, supply chain management and other blockchain-based solutions. XSigma has since pivoted to decentralized finance, focusing on decentralized exchanges, stablecoins and lending protocols. The research lab is now actively working on its ecosystem of products beginning with its DeFi protocol. The ultimate objective is to build a range of financial tools and products for the flourishing decentralized finance industry. The xSigma team that are being assembled are on the leading edge of blockchain research and development that intersects decentralized finance, supply chain management, IoT, and infrastructure. The DeFi protocol is one of many decentralized finance projects xSigma plans to launch over the next 12 months. It will feed into a growing network of DeFi products for enterprise and consumer markets. Any blockchain protocol is subject to a degree of risk; xSigma's DeFi protocol has implemented tamper-resistant programming, but is still subject to potential hacks.For further information about xSigma, please visit its website at www.xsigma.com, www.xsigma.fi, https://xsigma-trading.com and https://xsigma-nft.com
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and many of which are beyond the control of ZK International. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are included in the Company's filings with the U.S. Securities and Exchange Commission. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Weitian Group LLC
Phone: +1 718-213-7386
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