The NFT Gaming Company Provides Shareholder Update on Game Launches, Artificial Intelligence, Gaxos Platform, and Other Initiatives

Roseland, NJ, April 04, 2023 (GLOBE NEWSWIRE) -- The NFT Gaming Company, Inc. ("NFTG" or the "Company"), a company developing a digital gaming platform and community that will offer users the ability to create unique avatars playable in all of the games on the platform in the form of non-fungible tokens, or “NFTs,” today is providing shareholders with an update on its roadmap for game launches, AI games, team expansion, as well as development and launch of its Gaxos Platform.

“We are extremely excited to begin releasing our proprietary games and flagship product, Gaxos,” commented Vadim Mats, Chief Executive Officer of NFTG. “The Company is actively developing games and a community that will offer content that will appeal to all types of gamers. By combining games and genres that people love to play with the power of the blockchain, AI, and other state-of-the-art technology, we are paving the way for the new generation of digital gaming. I look forward to user acquisition and generating revenue to drive value for our shareholders.”

The Company’s IPO:

On February 17, 2023, the Company closed on its Initial Public Offering. The Company sold 1,686,747 shares of Common Stock for aggregate gross proceeds of approximately $7 million before deducting offering expenses. The Company stock began trading on the Nasdaq Capital Market under the symbol “NFTG” on February 15, 2023.

Game Launches:

NFTG expects to begin launching its proprietary games on both Android and iOS by the end of the first half of 2023. The Company has approximately 12 games in various stages of development, with additional games to commence development shortly thereafter. Our current lineup features action, puzzle, strategy, multiplayer online battle arena, first-person shooters, and matching games. All of the games published by NFTG will be interconnected via the character/avatar and will possess the ability to transfer points (XP) and share economies.

AI Acquisitions and Games:

The Company has commenced building its AI-driven games by incorporating the most current AI technology such as OpenAI’s, ChatGPT and GPT-4, and Midjourney. Management is assessing new AI technology for feasibility and value in developing its games. New products and developments in the space are currently occurring on a daily basis and the Company is intent on selecting the best technologies for its products. 

NFTG acquired Voxpow earlier this year to integrate certain AI features into its games.

Voxpow boasts AI-powered speech-recognition technology with natural language processing that recognizes more than 100 languages and variants. Other features include sentiment analysis and a variety of other web-based integrations.    

ChatGPT and GPT-4 by OpenAI uses renowned language models designed to generate human-like conversations. The models are built on state-of-the-art AI technology and have been pre-trained on massive datasets, making it one of the most sophisticated language models in the market. The technology will enable The NFT Gaming Company to leverage these pre-trained models through APIs, making it easier to integrate into games to make interaction more realistic and engaging.

Midjourney is a powerful artificial intelligence program that generates images from natural language descriptions called “prompts.” The NFT Gaming Company will be able to create games where art is generated based on the choices that gamers will make while playing the games, potentially making each experience unique.

Gaxos Platform:

Concurrently with the development of its games, NFTG is building its Gaxos platform that is expected to launch by the end of 2023. Gaxos will host all of NFTG’s proprietary games as well as games owned and operated by third parties. The platform will feature a storyline that connects all of the games and characters. The Gaxos community of users will be able to participate in individual and platform-wide goals and achievements. Players will have the ability to mint an NFT of their avatars if they choose to take their character and progress off the platform. Users will be able to sell their NFT on a third-party platform and the new owner can experience Gaxos starting where the seller left off. In addition to the functional use of the NFT, users are able to mint for the collectability and ownership of their avatar.   

Building our team:

The Company is working with game developers, artists, back-end developers, and other professionals in South America, Eastern Europe, and various other locations worldwide. Management is committed to hiring the best talent while being mindful of the Company’s resources. Management is actively hiring for roles needed to achieve its goals.

License with Columbia University:

On August 29, 2022, NFTG entered into a software and patent license agreement with Columbia University in the City of New York pursuant to which Columbia University granted us a royalty-bearing, exclusive, worldwide, non-transferable license to certain intellectual property solely for computer gaming for entertainment purposes involving non-fungible tokens (NFTs). Management is committed to protecting its IP and will continue to explore additional methods of security in order to prevent any manipulation of its NFTs.

NFTG filed its Form 10-K with the Securities and Exchange Commission for the period ended December 31, 2022 on March 31, 2023.

About The NFT Gaming Company, Inc.

The NFT Gaming Company is developing a digital gaming platform that will offer proprietary games as well as games developed and published by third parties. Our vision is to develop, design, acquire, and manage conventional digital games and to combine them with novel methods, such as the ability to create and mint unique in-game features, such as skins, characters, and experiences in the form of non-fungible tokens, or “NFTs,” that will allow users to have unique experiences and more control over in-game assets.

Forward-Looking Statements

All statements other than statements of historical fact in this announcement are forward-looking statements that involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s filings with the SEC.

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