Metasphere Labs Inc. Finalizes Strategic Partnership with Bot Ventures Inc. to Lead in Bitcoin-Based Decentralized Identity Solutions

VANCOUVER, British Columbia, May 08, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. ("Metasphere" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is excited to announce a definitive agreement with Bot Ventures Inc. (“Bot Ventures”), an innovator in the identity, naming, and verification space (the “Agreement”). This partnership marks a significant development, of both companies, in a decentralized domain platform (the “Platform”) for domain protocols that operate on the Bitcoin blockchain.

In consideration for the development services provided, Bot Ventures shall pay a royalty of 20% of all gross sales revenue generated from the Platform, capped at at a maximum total payment of $1,000,000 USD (the “Royalty”). It’s important to note that this Royalty does not apply to sales of any other products or services associated with the platform being developed by the Company. Given that the compensation for services is contingent on Bot Ventures’ ability to generate revenue from the platform, there can be no assurance that the Company will earn any Royalty from this arrangement. 

Bot Ventures, the owner of botpages.com, is setting industry benchmarks as the foremost chatbot verification service, well ahead of sophisticated AI technologies like ChatGPT. Their proactive vision has consistently anticipated the crucial need for digital identity verification in a world populated by artificial agents.

"Our partnership with Bot Ventures marks a milestone in our quest to revolutionize digital identities," stated Natasha Ingram, CEO of Metasphere. "By combining their extensive experience with our cutting-edge technology, we are poised to significantly enhance online security and trust, utilizing Bitcoin’s robust infrastructure. Additionally, our Agreement includes royalties for Metasphere, which underscores the value and innovation we bring to this partnership."

This strategic alliance will merge Metasphere's advanced development skills with Bot Ventures' operational excellence, creating a comprehensive platform and verification system for decentralized Bitcoin-based identity systems. This initiative includes integrating the Spaces Protocol and Sat Names, along with plans to incorporate MicroStrategy’s DID:BTC initiative, thus creating a versatile platform for digital identity management.