Company to Develop the JTEC Auto Coin, its Very Own Automotive Crypto Token
BUFORD, GA / ACCESSWIRE / March 21, 2022 / Masterbeat Corporation (OTC PINK:MSTO), a company specializing in hard, tangible asset acquisitions with an intense focus on real estate, collectible classic automobiles, and other tangible assets, announces its decision to enter the NFT and Metaverse space as part of the Company’s diversification and additional digital strategy.
As stated in our, “Guidance and Update” PR on 03-15-2022, the auto parts industry has been hit hard by the shipping issues the world is experiencing. Rather than wait out the “supply chain issues”, management is looking to diversify into new potential revenue streams while continuing to maintain doing business within our perspective real estate and automotive industries.
As part of the Company’s diversification, we are launching a Metaverse/ NFT Initiative. Other industries such as the fashion sector have been finding success in the Metaverse realm where dismal apparel sales, due to the “work at home” movement, have flourished selling designer virtual “skins” for avatars within popular virtual worlds like Decentraland. In fact, the influence of the metaverse and its potential to disrupt physical fashion weeks in the years to come will be showcased on the metaverse platform Decentraland at its inaugural Metaverse Fashion Week (MVFW) beginning on March 24th. No tickets required, and with designer brands such as Dolce & Gabbana, Etro, Tommy Hilfiger and Elie Saab among the fashion houses taking part, the event is sure to be a success. Attendees can shop for digital looks straight off the runway and on to their customizable avatars; some collections will also offer physical purchases.
With this concept in mind, JTEC will create unique voxel art “Muscle Cars & Classics” assets for the Sandbox and for Decentraland. Initial rollout will involve a Classic Collectable Car Art NFT collection where collectors that participate in the mint will additionally have a chance to mint 1 of 10 epic “car key” NFT’s where 1 of these lucky holders will win a real life Classic. Proceeds from the mint will provide added capital to purchase virtual real estate in both Sandbox and Decentraland. While fashion companies can take advantage of this newly found revenue source, JTEC too can sell cars and possibly car parts or micro sale upgrades for other virtual vehicles. Just as an individual can purchase a new virtual outfit, JTEC could change the color of your car, add a spoiler, change the rims, add racing stripes or exhaust systems as micro sales. The Company is already in talks with Metaverse artists, a development team in Miami and will begin to design, develop, introduce, and market their NFTs and tokens starting Q2 of 2022.
As continued diversification our Metaverse Initiative will focus on virtual Real Estate, design, acquisition, marketing, and community building within the virtual world. SBQ will buy and sell virtual property for prospective clients in addition to developing lands to better market and showcase their virtual cars. Whether it be an online car lot or a place for other Classic and Muscle Car collectors and enthusiasts can meet up and interact, the parcels will be used to put MSTO in the spotlight. SBQ will work with a number of experienced land acquirers, specialist artists, digital marketers, and community builders whose compatibility will build virtual environments, cities, events, etc. adding to the diversification of the world we live in today.
MSTO will also develop the JTEC Auto Coin. The business model or utility for the coin are still in its early stages, but there are many avenues we can pursue to bring value to the coin. The coin can be used for staking its future car NFTS, be used to buy/upgrade cars and parts in both the real world and as a reward for purchasing items through our automotive platform. The options and potential are endless.
“Yes, MSTO specializes in hard, tangible asset acquisitions with an Intense Focus on Real Estate, Collectible Classic Automobiles, New & Used Auto Parts and other Tangible Assets believing in an old school model to acquire hard, tangible assets, but we also believe in incorporating technology, not being stagnant and adapting to changes that go along with the growth of our humanity. As a company, we know we have to stay ahead of the curve. We also feel the shipping issues as much a burden as it has opened a unique opportunity for us to focus on a new technology that is showing increasing demand from younger generations. The Metaverse will open up a whole new world of business opportunities for both our real estate and automotive divisions. Cryptocurrency will offer an additional way for us to accept payment from prospective customers and can be used as a possible dividend for our MSTO shareholders in the future.” – Josh Tannariello, CEO
Automobile manufacturers are increasingly entering the NFT space, which is projected to grow to $240 billion by the end of the decade, minting unique collectible digital tokens that are sometimes bundled with car purchases. Automotive NFT’s have also fetched carloads of cash, Barrett-Jackson auctioned four NFTs last year based on cars sold to raise money for charity in March: the first 2021 Ford Mustang Mach 1 (which sold for over $500,000), a 2021 two-door Ford Bronco, a first-edition 2022 GMC Hummer EV, and a 2021 Ram 1500 TRX Launch Edition. Interestingly, the NFTs didn’t come with the cars, with the bids instead competing for the digital rights to the vehicles’ sales. An NFT representing the first digital Formula 1 car in the F1 Delta Time blockchain game was sold to anonymous buyer Metakovan for $110,000 or 415 Ether (ETH) at the time. Last, in November of 2021, a super yacht named ‘The MetaFlower” developed by Republic Realm sold for $650,000 US for use in the Sandbox Metaverse.
The company feels the Classic Cars is an untapped niche within the Metaverse space and the combination of virtual sales could lead to real life actual car sales and actual sales into virtual ones. JTEC anticipates sharing preliminary art with its shareholders on their twitter platform later this week.
About Masterbeat Corp.
MasterBeat Corporation (OTC PINK:MSTO), incorporated under the laws of Delaware, is a publicly traded company specializing in hard, tangible asset acquisitions with an intense focus on real estate, precious metals, and other tangible assets. The company believes its progressive approach to an old school model, especially in this market based on fragile earnings multiples and uncertainty, to acquire hard, tangible assets will not only offer long term capital appreciation but also deliver revenues, profits, and self-sustainability.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company’s ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.
SOURCE: MasterBeat Corporation
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