Coinsilium Group Limited: Nifty Labs Launches Minter for NFT Marketplace on RSK Mainnet and Token Bridge update DGAP

Coinsilium Group Limited (COIN)
Coinsilium Group Limited: Nifty Labs Launches Minter for NFT Marketplace on RSK Mainnet and Token Bridge update

16-Sep-2021 / 07:00 GMT/BST
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COINSILIUM GROUP LIMITED

("Coinsilium" or the "Company")

Coinsilium Group Limited: Nifty Labs Launches Minter for NFT Marketplace on RSK Mainnet and Token Bridge update

 

London, UK, 16 September 2021 - Coinsilium Group Limited (AQSE: COIN) (OTCQB: CINGF), the Blockchain, and Open Finance venture builder, is pleased to announce that the NFT 'Minter', a core component of the NFT Marketplace being designed and built by its wholly-owned subsidiary Nifty Labs Limited ("Nifty Labs"), an NFT technology development studio based in Gibraltar, in partnership with portfolio company Indorse Pte. Ltd. ("Indorse"), has now launched on the RSK Blockchain Mainnet.

 

Highlights:

 

  • Nifty Labs NFT Minter has launched on the RSK Blockchain Mainnet
  • The first NFT to be minted with this Smart Contract is a portrait of Diego Gutiérrez Zaldivar, CEO of IOV Labs Limited ("IOV Labs"), designed in honor of his induction in the Crypto Hall of Fame in June 2021
  • The Crypto Hall of Fame is hosted by Moonstock, an online gallery specializing in Crypto Art and NFT created by Aaron Koenig, and celebrates major contributors to the blockchain industry with portraits designed by 'Max Cryptohead'
  • The launch of the Minter is a key milestone towards the completion of the NFT marketplace, which is currently under development.
  • Development on the wider marketplace project continues to progress well, with overall completion on track and anticipated to be within the initial six-month timeframe.
  • Concurrently, development on the token bridge by RSK is also progressing well, with a trial and testing phase anticipated to commence this week.

 

Eddy Travia, CEO of Coinsilium, commented: "We are very pleased to see the progress in what is Nifty Labs' first major undertaking. The deployment of the NFT Minter on the RSK mainnet, alongside its first minting, is a key milestone in the development of the marketplace. We believe that Nifty Labs' solutions, such as the Minter, will trigger a wave of creativity in the RSK-enabled 'NFT on Bitcoin' space and we look forward to seeing a surge of activity by artists and collectors in this new NFT ecosystem."

 

Progress report: 'NFT on Bitcoin' marketplace

Further to the Company's announcement on 29 July 2020, the development of the NFT marketplace continues to progress well with project completion on track and anticipated to be within the initial six-month timeframe as announced on 11 May 2021. The deployment of the NFT Minter on the RSK Mainnet is a key milestone towards the launch of the NFT marketplace.

 

The marketplace platform will incorporate various modules including an NFT minter, a gallery, and the capability to trade NFTs for any RSK-based tokens. The marketplace is initially expected to host the most popular NFT categories including digital art, sports, music, gaming and metaverse assets such as parcels of virtual land and 3D avatars.

 

The first NFT to be minted is a portrait of Diego Gutiérrez Zaldivar, CEO of IOV Labs Limited, designed in honour of his induction in the Crypto Hall of Fame in June 2021. The Crypto Hall of Fame is hosted by Moonstock, an online gallery specialising in crypto art and NFTs created by Aaron Koenig and celebrates major contributors to the blockchain industry. Portraits of those inducted into the Hall of Fame are designed by 'Max Cryptohead'.

 

Progress report: RSK development of token bridge

 

The RSK team has advised Nifty Labs that a Proof of Concept (POC) version of its NFT token bridge is expected to go live on the testnet this week. The NFT token bridge will then

undergo a series of tests to ensure its stability before work will begin on its integration into the marketplace platform.

 

The NFT token bridge is designed to enable the transition of RSK blockchain standard NFTs to other blockchain standard NFTs, such as the Ethereum ERC721 standard, and vice versa. In its first iteration, the NFT token bridge can be expected to deliver interoperability between the Nifty Labs NFT marketplace and other marketplaces on Ethereum, opening the doors to a significantly larger number of actors in the NFT space to use and interact with NFTs on RSK.

 

The Directors of Coinsilium Group Limited take responsibility for this announcement.

 

Coinsilium Group Limited

Malcolm Palle, Executive Chairman

Eddy Travia, Chief Executive

+44 (0) 7785 381 089

www.coinsilium.com

 

 

Peterhouse Capital Limited

Guy Miller / Mark Anwyl

(AQSE Growth Market Corporate Adviser)

+44 (0) 207 469 0930

 

 

SI Capital Limited

Nick Emerson

(Broker)

+44 (0) 1483 413 500

Buchanan Communications

Chris Lane / Toto Berger

(Media and Investor Relations)

+44 (0) 20 7466 5000

E: coinsilium@buchanan.uk.com

 

 

Notes to Editors

 

About Coinsilium

 

Coinsilium is a focused Blockchain and Open Finance venture operator based in Gibraltar, a pre-eminent global regulatory jurisdiction and a leading hub for innovative financial technology. In 2015, Coinsilium became the first blockchain company to IPO. The Company has evolved to develop revenue-generating strategic advisory services and is a highly regarded innovator with proven technological and commercial expertise and development capabilities in the NFT arena and within Open Finance.

 

Coinsilium has developed an array of commercial partnerships and joint ventures around the world to support its development capabilities, giving it access to best-in-class tech experts, a strong network, and asserting its profound industry profile.  It has a 50:50 venture with IOV Labs in Singapore, enabling the promotion and commercialisation of RSK's products, services, and technologies in global markets; and has partnered with blockchain technology experts Indorse to create Nifty Labs, a Non-Fungible Token ('NFT') technology development studio in Gibraltar.

 

Coinsilium shares are traded on the APEX segment of the AQSE Growth Market in London, under the ticker symbol "COIN", and on OTCQB Venture Market in the United States under the ticker symbol "CINGF".

 

Terminology

 

"Artificial Intelligence" (AI): Artificial intelligence is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans or animals. Some popular accounts use the term artificial intelligence to describe machines that mimic cognitive functions that humans associate with the human mind, such as learning and problem solving.

 

"Avatar": An avatar is a graphical representation of a user or the user's character or persona. It may take either a two-dimensional form as an icon in Internet forums and other online communities or a three-dimensional form as in games or virtual worlds.

 

"Augmented Reality" (AR): Augmented reality (AR) is an interactive experience of a real-world environment where the objects that reside in the real world are enhanced by computer-generated perceptual information. AR can be defined as a system that incorporates three basic features: a combination of real and virtual worlds, real-time interaction, and accurate 3D registration of virtual and real objects.

 

"Metaverse": The Metaverse is a collective virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the Internet.

 

"NFT" or Non-Fungible Token: A unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files.

 

"NFT Minter": A Minter is a software solution/programme that enables the publishing (Minting) of a unique instance of an NFT on the blockchain.

 

"Smart Contract": Smart Contracts are programs stored on a blockchain that run when predetermined conditions are met. They are typically used to automate the execution of an agreement so that all participants can be certain of the outcome, without the involvement of intermediary.

 

"Testnet": The testnet is an alternative blockchain used for testing.

 

"Token Bridge": The token bridge is designed to enable the transition of RSK blockchain standard NFTs to other blockchain standard NFTs such as the Ethereum ERC721 standard and vice versa.

 

"Voxel" or "Voxel Art": Voxel art is a type of art form where 3D models are constructed entirely out of 3D cubes called voxels. Artists are able to create these voxel models using a special type of software called a voxel editor.



ISIN: VGG225641015
Category Code: MSCM
TIDM: COIN
Sequence No.: 122266
EQS News ID: 1233687

 
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