VANCOUVER, British Columbia, April 30, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. ("Metasphere" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is proud to announce that Jimi Cohen, founder of The Treegens (“Treegens”), a leader in the Web3 Regenerative Finance (ReFi) sector, has set a new world record by planting 30,297 mangrove trees in a single day in the Majoreni of Shimoni, Kenya. This remarkable achievement, currently under evaluation by Guinness World Records, marks the third consecutive year that Mr. Cohen has set the tree planting world record.
About Treegens
Treegens, spearheaded by its passionate community and the innovative Treegens DAO, is revolutionizing the environmental impact sector through blockchain technology, AI, and gamification. The platform focuses on mangrove trees initially, aiming to expand to other species as the movement grows. Treegens offers a transparent and rewarding mechanism for tree planting, featuring the $MGRO Token and dynamic semi-soulbound NFTs that document and verify the growth of each planted tree. This system ensures direct impact verification and incentivizes both planters and verifiers in a transparent manner.
Significance of the Achievement
Jimi Cohen’s latest record highlights the potential for gamification in environmental efforts, turning tree planting into a competitive and engaging activity akin to major sporting events. By setting this new standard, Mr. Cohen not only pushes the boundaries of what individual commitment can achieve but also demonstrates the effectiveness of Treegens platform in facilitating large-scale reforestation projects.
Metasphere and Treegens Partnership
Metasphere utilizes Treegens protocol as a community engine for tree planting with reliable verification through its Climate.bot solution. To date, Metasphere has successfully planted and sold 20,000 trees as natural capital. This synergy underscores the shared vision of both organizations to harness cutting-edge Web3 technology for substantial environmental impact.
Executive Statements
Natasha Ingram, CEO of Metasphere, commented, “This record is not just a testament to Mr.Cohen’s incredible dedication but also a clear indication of what our collaboration with Treegens can achieve. Together, we are setting new standards in the reforestation domain, proving that innovative technology and community involvement can reshape our environmental future.”
Jimi Cohen, founder of The Treegens, added, “Every tree planted is a step towards a regenerative future. This record aims to inspire a global movement where environmental regeneration becomes a shared goal for all of us. Treegens is here to ensure that every effort is recognized, every contribution matters, and together, we can make a lasting impact.”
ABOUT METASPHERE LABS
Headquartered in Vancouver, British Columbia, Metasphere Labs ("LABZ") develops metaverse environments, DAO solutions, gamification, and Web3 / blockchain monetisation strategies aiming to solve social coordination problems for acting on climate change and making a positive impact on the planet.
Forward-LookingInformation This news release contains "forward-looking statements." Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, open metaverse projects and development of virtual world projects.
The material assumptions supporting these forward-looking statements include, among others, that: the CompanycouldmitigatetherisksassociatedwiththeblockchainandNFTindustry;theabilitytocompete with other businesses in the NFT, metaverse and blockchain markets; the availability of sufficient funding to carry out the Company's business development plans; favourable market conditions; and the market acceptance for its products.
Although management considers these assumptions to be reasonable based on information currently availabletoit,theymayprovetobeincorrect.Theseforward-lookingstatementsareonlypredictionsand involve known and unknown risks, uncertainties and other factors, including: the continued growth and adoption of NFT, metaverse and blockchain offerings; the cost of developing and designing NFTs and metaverses is economically viable; the Company being able to attract and retain a sufficient workforcewithdesiredskillsetstodeveloptheCompany'sdigitalofferings;theavailabilityof offeringsprovidedbythird-partiesintheNFT,metaversedevelopmentandonlinegamingmarkettoidentify potential transactions; the increasing adoption of NFTs as a solution for various online gaming, entertainmentandcollectibleuses; theCompanyhavingtheabilitytomitigatetherisksassociatedwiththe blockchain and NFT industry; and the ability to compete with other businesses in the NFT, metaverse development, content creation and collectibles market.
Although management considers these assumptions to be reasonable based on information currently availabletoit,theymayprovetobeincorrect.Theseforward-lookingstatementsareonlypredictionsand involve known and unknown risks, uncertainties and other factors, including: the risk that the Company's offerings are not accepted by the consumer, the risk that other competitors may offer similar digital offerings; the risk that there may be negative changes in general economic and business conditions; the risk that the Company may have negative operating cash flow and not enough capital to complete the development of any of its technologies; the risk that the Company may not be able to obtain additional financingasnecessary;theriskthattheremaybeincreasesincapitalandoperatingcosts;theriskthatthe NFTtechnologymaybesubjecttofraudandotherfailures;theriskthattheremaybetechnologicalchanges and developments in the blockchain that make the NFT solutions obsolete; risks relating to regulatory changes or actions which may impede the development or operation of the blockchain solutions; the risk thatothercompetitorsmayreleasesimilarblockchainofferings;thepotentialfutureunviabilityoftheNFT market in general; the volatile cost of the amount of computational effort required to execute specific operations on the blockchain, and other general risks involved in the blockchain solutions.
Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials, including its reports filed with the Canadian securities regulators and which can be obtained from www.sedarplus.ca.
AnyoftheserisksmaycausetheCompany’sactualresults,levelsofactivity,performanceorachievements tobemateriallydifferentfromanyfutureresults,levelsofactivity,performanceorachievementsexpressed or implied by these forward-looking statements. Further, although the Company has attempted to identify factorsthatcould cause actualresults,levelsof activity, performanceorachievementstodiffer materially fromthosedescribedinforward-lookingstatements,theremaybeotherfactorsthatcauseresults,levelsof activity, performance or achievements not to be as anticipated, estimated or intended. These forward- looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentionscontainedin this news release are reasonable, there can be no assurance that anysuchbeliefs,plans,expectationsorintentionswillprovetobeaccurate.TheCompanydoesnotassume any liability for disclosure relating to any other company mentioned herein.
