Vancouver, British Columbia–(Newsfile Corp. – November 23, 2022) – Aquarius AI Inc. (CSE: AQUA) (ESF: 4G5N) (there “Company” Where “AQUA“) is pleased to provide a company update on its recent acquisition (the “Acquisition of Jellyworks“) of Jellyworks Inc. (“jellyworks“).
Jellyworks Games Guild
AQUA recently completed the acquisition of Jellyworks, as announced in the company’s press release dated November 2, 2022. In addition to operating a profitable and state-of-the-art Bitcoin mining operation, Jellyworks also operates a Play -2-Earn generating revenue. guild (the “Jellyworks Games Guild“). The Play-2-Earn game is where players can earn digital chips as a reward for playing a game of skill, for example, Play-2-Earn Poker. These digital chips can be traded for fiat currency via certain exchanges or Given the current trend of Web3 tokenization, the possibility opens up for anyone in the world to play games and earn income.
Jellyworks Gaming Guild works by purchasing the NFTs needed to play certain Play-2-Earn games. Jellyworks then delegates these NFTs to players for use in those games. All rewards generated are split 50/50 between the player and Jellyworks. Jellyworks has invested in the construction, development and management of the Jellyworks Gaming Guild over the past year. The company intends to continue developing the Jellyworks Gaming Guild as an expansion of AQUA’s NFT strategy. Looking ahead, AQUA is looking to attract many more players as part of this expansion..
Owen Sagness, Director of Operations at AQUA, said: “We are delighted to welcome the Jellyworks team to AQUA. We have been extremely impressed with what they have accomplished and believe that together Jellyworks and AQUA can grow rapidly and achieve even greater success. While we remain cautious about expanding Bitcoin mining operations due to market conditions, we see Jellyworks as an area of business growth that we believe will be the primary use case for Web3 and Internet tokenization.“
Alex Lineton, CEO of Jellyworks, said: “We were thrilled to join a team that shared the enthusiasm of Jellyworks and the paradigm shift that Play-2-Earn brings. I believe that by having our operations within a company like AQUA, we can accelerate our plans and solidify our first-mover advantage in the space.“
The company will continue to provide timely updates as the Jellyworks Gaming Guild continues to expand.
For more information:
Aquarius AI Inc.
Eugene Valaitis Investors@AquariusAI.ca
Caution Regarding Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking information” as that term is defined under applicable Canadian securities laws. The words “may”, “could”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions in connection with the Company, including statements about Jellyworks and the Company, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information, including, but not limited to: future operations and plans of Jellyworks; the integration of the Company’s and Jellywork’s businesses; any anticipated operational efficiencies or synergies; continuing to operate the Company’s bitcoin mining platforms profitably; the extent to which Jellyworks Gaming Guild players earn rewards by playing Play-2-Earn games with the Company’s or Jellyworks’ NFTs (as applicable); the anticipated value of any rewards earned, if any; anticipated daily revenue from players’ shares of Jellyworks Gaming Guild activities, if any; the ability for customers to continue to earn above-average income from playing Play-2-Earn games within the Jellyworks Gaming Guild, or even no income; and the company’s continued development and expansion of the Jellyworks Gaming Guild, including its ability to attract more players. These statements reflect the Company’s current beliefs and intentions with respect to future events, as well as current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to differ from those described herein, should one or more of these risks or uncertainties materialize. Examples of such risk factors include, but are not limited to: the risk that the integration of the Company’s and Jellywork’s businesses will not generate anticipated operational efficiencies or synergies; credit; market (including stocks, commodities, currencies and interest rates); liquidity; operational (including technology and infrastructure); reputation; Insurance; strategic; regulatory; legal; environmental; capital adequacy; general business and economic conditions in the regions where the Company operates; the Company’s ability to implement its key priorities, including successful acquisitions, business retention and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; the ability to implement business strategies and seize business opportunities; disruptions or attacks (including cyberattacks) on the Company’s information technology, Internet, network access, or other voice or data communication systems or services; developments in various types of fraud or other criminal behavior to which the Company is exposed; failure by third parties to meet their obligations to the Company or its affiliates; the impact of new laws and regulations, changes or enforcement thereof; lower reimbursement rates; a new business model; dependence on key suppliers; the difficult judicial environment overall; increased competition; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to continue operations; critical accounting estimates and changes to accounting standards, policies and methods used by the Company; the occurrence of catastrophic natural and unnatural events and claims resulting from such events; as well as the risk factors discussed or referred to in the Company’s disclosure documents filed with securities authorities in certain provinces of Canada and available at www.sedar.com. If any factor affects the Company in an unexpected way, or if the assumptions underlying the forward-looking information prove incorrect, the actual results or events could differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Further, the Company assumes no responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release, and the Company undertakes no obligation to publicly update or revise the forward-looking information, except as required by applicable law..
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