CBI signs agreement to acquire Xave World, a Metaverse

CBI signs an agreement to acquire Xave World, a metaverse dedicated to music

  • Xave World has been in development since 2020 and offers a wide range of features and experiences: communities, NFT marketplace, concerts, recordings and a dedicated cryptocurrency
  • Xave World will be part of AlphaVerse, the CBI metaverse that already spans different genres and experiences around games, music and many other areas
  • With this acquisition, CBI further strengthens its strategy in the music world, as exemplified by the United at Home and Rave Age universes.

CRYPTO BLOCKCHAIN ​​INDUSTRIES (CBI, Euronext Growth Paris: FR0014007LW0, ALCBI) today announced that it has signed an agreement to acquire Xave, a blockchain technology company based in Barcelona and Argentina, which will become Xave World, a dedicated Music Metaversum, developed for 2020 With its own cryptocurrency (Xave Coin) and its own marketplace (Xave Market), the Metaversum Xave World offers a range of entertainment and concert experiences, creation tools and various NFTs related to music and artists.

Xave World Metaverse uses blockchain to create innovative experiences around music. The universe has various technologies and tools for artists and content creators to create their own concerts, sell tickets and NFTs and stream, for example, to expand and promote their communities. Beyond music as a vehicle for sharing and experiencing, users can monetize their own experiences and support the development of confirmed or emerging artists.

Thanks to this acquisition, Xave will be part of the Alphaverse, connecting all experiences related to music so that all Alphaverse users can enjoy the shows and suggestions for creators and artists launched by Xave. With music at the heart of its development, AlphaVerse aims to establish a dynamic approach through engagement and exchange between the diverse universes connected to the AlphaVerse hub.

The agreement signed today is for a payment of $500,000 (self-funded) and the equivalent of $1,500,000 in CBI stock upon closing and includes two earn-outs. On the one hand, $1,000,000 in CBI stock submitted upon delivery of additional features in the Xave universe, and on the other hand, up to $2,000,000 in cash and the equivalent of $5,000,000 in CBI stock, depending on the amount of future profitability of Xave Universum. At each stage, payments are based on the market value of CBI shares. All CBI shares delivered will be subject to a six-month lock-up period, after which one-tenth will be released each month, with the determination that their potential sale cannot exceed 5% of daily transaction volume.

Led by six executive producers and backed by an ecosystem of stakeholders and developers, the Xave team will be able to share in the long-term success of the new combined structure thanks to a bonus based on 15% of cash generated by the L Xave universe in the five years following its launch, which is scheduled for Q4 2022. Closing of this acquisition is planned for no later than August 15, 2022, subject to review by an auditor. CBI will fund the cash portion of this operation from its own resources.

Xave World Metaverse features a decentralized economy using its own cryptocurrency – Xave Coin – which has been listed on the Probit Global exchange since March 2022. Xave has created its own NFT market, Xave Market, which functions as a digital store specializing in NFT sales. Xave has developed an innovative model that makes it possible to participate in the financing of artists, their work and their concerts and to share in their success. NFTs are not only digital assets, but also open access to exclusive experiences directly with the artists (VIP pass for physical or virtual concerts, exclusive live streaming, unique and exclusive access to listen to new tracks, etc.). Users and artists will also be able to own part of Xave World’s open metaverse by purchasing their own lots and building custom houses or rooms within Xave World. Each pack hides a secret, feature or valuable material for the owner to discover and improve.

learn more about https://xave.world

Warning:
The execution of projects and their operating budget and financing plan remain fundamentally subject to uncertainty, and failure to achieve underlying assumptions can have a material impact on the value of assets and liabilities.

About CBI

CRYPTO BLOCKCHAIN ​​​​​​INDUSTRIES (“CBI”) is a French company that develops, operates and invests in video games, business applications and select projects related to blockchain, non-fungible tokens (“NFT”) and cryptocurrencies. Founded by renowned gaming industry entrepreneur and blockchain pioneer Frédéric Chesnais, CBI aims to develop and unlock value from a portfolio of blockchain companies across multiple industries (video games, finance, logistics, etc.) to directly or capitalize on this technology partnerships. CBI has already made several investments and is currently developing AlphaVerse, a virtual world or metaverse based on blockchain technology, which will open in summer 2022. CBI admitted to trading on the EI (Qualifying Investors) compartment of the Euronext Growth Paris market as of 26 October 2021. Find out more about www.cbicorp.io.

contacts

  • 220427_CBI_CP_Xave_FR_final

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