The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
16 June 2022
("Valereum" or the "Company")
Valereum to Launch a New NFT Open Marketplace Platform
In response to market rumours, Valereum, the
Full details of the Valereum NFT Marketplace, including its headquarters jurisdiction, will be announced in due course. Given the confidential nature of ongoing negotiations, key launch partners will also be announced at a later date.
While deploying a blockchain backbone to ensure immutable settlement of all transactions, the platform will enable users to pay in a variety of crypto, as well as fiat currencies, facilitating the broadest possible user base. All platform members will have access to an exclusive Valereum wallet for their NFT portfolio.
In keeping with Valereum's desire to adhere to the highest international standards, users will be onboarded with appropriate Anti-Money Laundering and Know Your Client (AML/KYC) processes while NFTs within the ecosystem will be subject to Ultimate Beneficial Ownership (UBO) criteria, ensuring transparency and high levels of trust for all users.
Valereum intends to allow direct access to all parties interested in acquiring NFTs listed on the open marketplace platform.
Richard Poulden, Chairman of Valereum, commented: "Our NFT strategy represents another very exciting development for Valereum. We see the market maturing and expanding into dynamic new product areas which will appeal to users of all ages. While the marketplace will be a separate subsidiary to our proposed purchase of the Gibraltar Stock Exchange, we envisage an overlap of similar regulatory practice to imbue the utmost confidence in its operating functionality.
With global names like Mastercard enabling NFT trading for a range of crypto-ecosystem platforms, we believe there is a great opportunity to expand Valereum into building a high quality NFT platform which will appeal to individuals and corporates alike. Enabling a fiat currency "on ramp" via billions of credit card holders is a sound way to expand the appeal of NFTs in addition to crypto payment. We look forward to partnering with appropriate entities to deliver a bridge across as many payment avenues as possible."
Patrick L Young, Executive Director of Valereum, said: "The NFT market has huge opportunity to expand beyond its current pixelations. Valereum has an ingenious concept which will interest NFT collectors and engage commercial participants across the globe while we foresee a very tangible future for NFT technology delivered according to established exchange practices."
The Directors of the Company accept responsibility for the contents of this announcement.
Richard Poulden, Chairman
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