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Victory Square's Next Decentrum signs NFT deal with DAF

2021-12-06 11:05 ET - News Release

Mr. Shafin Tejani reports

VICTORY SQUARE PORTFOLIO COMPANY, NEXT DECENTRUM PARTNERS WITH FINTECH PIONEER DAF TO BRING ANCIENT EGYPT TO LIFE IN THE METAVERSE

Victory Square Technologies Inc. portfolio company Next Decentrum Technologies Inc. has formed a partnership with DAF (Digital Access to Finance) to launch several NFT (non-fungible token) projects inspired by Egyptian art, culture and history to allow for greater access and appreciation of one of humanity's oldest civilizations and bring some of the world's most iconic artifacts to the metaverse.

In 2019, over 12.6 million people visited Egypt. In the same year, the Tutankhamun Paris exhibition broke records for the highest number of visitors in the history of cultural exhibitions in France, attracting more than 1.42 million people in six months.

"Egypt is home to one of the world's richest cultures. There is much for everyone to discover and enjoy," said Hussein Hallak, chief executive officer of Next Decentrum. "Through this partnership with the DAF team, we aim to bring Egyptian history, culture and art to the metaverse by using NFTs, AR [augmented reality] and VR [virtual reality] technology."

For centuries, people have been fascinated with ancient Egypt. This fascination has manifested through literature, architecture, art, film, politics and religion.

Digital collectibles have seen a rise in popularity leading to a surge in NFT sales to $10.7-billion, according to Reuters, sparking massive interest and causing many to look at NFTs as the way forward for blockchain mainstream adoption.

"The rapid growth of the NFT market and the rising interest in the metaverse represent a unique opportunity to cultivate a global audience who want to own a piece of Egypt," said Hatem Kandeel, founder and chief executive officer of DAF. "Through this partnership with Next Decentrum, we plan to launch multiple projects in collaboration with Egypt's top artists and museums."

The teams of Next Decentrum and DAF have been working closely together for the past few months. The collaboration has already resulted in the launch of Crypto Pharaohs by Next Decentrum. Crypto Pharaohs is an iconic collection of digital collectibles (NFTs) inspired by the culture and heritage of ancient Egypt.

The two companies will be working with museums, cultural organizations and artists to launch digital collectibles that put Egypt into the hands of collectors and lovers of the culture from around the world through:

  • Introducing ultrarare NFTs inspired by Egyptian history, art and culture;
  • Collaborating on special events, media campaigns and promotions;
  • Bringing awareness of the growing digital collectibles sector;
  • Increasing participation from the MENA (Middle East and North Africa) region, starting with Egypt.

About Victory Square Technologies Inc.

Victory Square builds, acquires and invests in promising start-ups, then provides the senior leadership and resources needed for fast-track growth. Victory Square's sweet spot is cutting-edge tech that is shaping the fourth industrial revolution. The company's corporate portfolio consists of 20-plus global companies using AI (artificial intelligence), VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.

What Victory Square does differently for start-ups

Victory Square is not your ordinary investor. With real skin in the game, Victory Square is committed to ensuring each company in its portfolio succeeds. Victory Square's secret sauce starts with selecting start-ups that have real solutions, not just ideas. Victory Square pairs you with senior talent in product, engineering, customer acquisition and more. Then, Victory Square lets you do what you do best -- build, innovate and disrupt. In 24 to 36 months, you will scale and be ready to monetize.

What Victory Square does differently for investors

For investors, Victory Square offers early-stage access to the next unicorns before they are unicorns. Victory Square's portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because Victory Square focuses on market-ready solutions that scale quickly, the company is able to provide strong and stable returns while also tapping into emerging global trends with big upsides.

Victory Square integrates a strong ESG (environmental, social and corporate governance) component throughout its operations. Victory Square's portfolio highlights minority entrepreneurs, often overlooked by traditional investors, including many from developing countries. Victory Square is also dedicated to giving back to the communities in which it serves and operates. The company's mandate is to assist organizations through its time, talent and treasure. The company is committed to organizations that provide services in the youth, mental health, special needs, sport, tech, education, marginalized groups, first nations and accessibility sectors.

Victory Square is a publicly traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Stock Exchange (6F6) and OTCQX (VSQTF).

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