2050 Updates Shareholders; Launches Cannabis Social Network

Chicago, IL, Jan. 23, 2020 (GLOBE NEWSWIRE) -- FOMO CORP. (US OTC: ETFM) today updates shareholders on its investment programs. The Company is pleased to announce that its cannabis social network “Kanab Club” (“KC”) is open for business @ www.kanab.club.

Planned improvements to KC 1.0 include the following:

• Friend recommendation engine similar to those offered by Facebook, Instagram, SNAP, Twitter and The Meet Group, which will allow members to connect with one another, is expected to be completed within 15 days. Management believes this engine is critical to driving a network effect and building a community for the site, allowing KC to populate with daily active users (DAUs) and monthly active users (MAUs) which are key metrics used to track social media traffic.
• iOS and Android apps for smartphone access to the system will require about five months of programming. Given 80%+ of consumer Internet traffic today is generated from smartphones, management believes these apps will be critical to growth.
• E-commerce marketplace for the sale of CBD products/services on a business-to-consumer (B2C) basis will require about two months, allowing KC to benefit from global online trade.
• Advertising (banner and video) to monetize the site will be launched after the site has reached scale.
• 420 dating engine vaulting KC into match-making services offered by market leader Match.com which generally does not cater to the cannabis community.
• Dispensary search engine to match users with cannabis choices and points of sale in the United States.
• Launch of a cannabis stock chat forum similar to InvestorsHub and StockTwits.
• Sports and eSports betting as allowed by rule of law.
• eSports tournaments.

On the corporate action front, FOMO CORP. has changed its name with the Secretary of State of California and with the SEC’s EDGAR system. Management is completing the paperwork for a FINRA name change and ticker change and will file shortly. A new corporate website will be deployed at www.fomo.win as management turns the page to a new chapter from the Company’s discontinued electric vehicle business operated by prior owners. A shareholder presentation can be found in a form 8-K recently filed with the SEC below: