CBI announces the final stages of the acquisition of Xave World, a musical metaverse

CBI announces the final stages of the acquisition of Xave World, a musical metaverse

  • Xave World will be part of AlphaVerse, the CBI metaverse that already spans different genres and experiences around games, music and many other areas

  • Developed from 2020, Xave World will offer a wide range of features and experiences: community, NFT market, concerts, registrations and a dedicated cryptocurrency

  • With this acquisition, CBI strengthens itself in the world of music, with increasingly varied experiences in addition to partnerships with United at Home and Rave Age.

  • The purchase price is € 1.0 million: € 0.1 million in cash and € 0.9 million paid in CBI shares to be issued, worth € 1.0 for each CBI share

CRYPTO BLOCKCHAIN ​​INDUSTRIES (CBI, Euronext Growth Paris: FR0014007LW0, ALCBI) today announces that it has signed an agreement to acquire Xave, a blockchain technology company based in Barcelona and Argentina that has been developing Xave World, a metaverse dedicated to music. Equipped with its own cryptocurrency (Xave Coin) and market (Xave Market), the Xave World metaverse aims to provide a range of entertainment and concert experiences, creative tools and various NFTs about music and artists.

This acquisition will strengthen CBI’s strategy in the world of music, already illustrated by the United at Home and Rave Age universes. With this acquisition, Xave will join AlphaVerse, which interconnects a variety of experiences around music. CBI’s goal is to offer all AlphaVerse users the opportunity to enjoy the shows and proposals from creators and artists launched by Xave. With music as an axis of development, AlphaVerse aims to establish a dynamic approach through engagement and sharing between the different universes connected to the AlphaVerse hub.

Xave World Metaverse leverages blockchain to create innovative experiences around music and is developing its own NFT market, Xave Market, which will serve as a digital store specializing in selling NFTs. The universe will have various technologies and tools for artists and content creators to create their own concerts, sell tickets and NFTs, and broadcast, for example, to grow and promote their communities. Users and artists will also be able to own part of the Xave World’s open metaverse by purchasing their own plots of land and building custom homes or spaces within Xave World. Each piece of land hides a secret, a function or a precious material, which the owners will be able to discover and exploit. NFTs are not only digital assets, but will also allow 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 titles, etc.). Beyond music as a vehicle for sharing and experiences, users will be able to monetize their experiences and support the development of established or emerging artists. Xave World Metaverse has a decentralized economy that uses its own cryptocurrency: Xave Coin.

The acquisition of Xave takes place through the acquisition of 100% of the shares of Golive Entertainment Holding España, SL (“Golive”), a Spanish company that owns all the rights and assets of Xave, including the Xave brand. After signing, the Golive teams will remain the same and will be integrated into CBI.

The transaction involves the purchase of 100% of Golive at the price of 1,000,000 euros, of which 900,000 euros paid into CBI shares to be issued, worth 1.0 euros each, and 100,000 euros paid stable corners. No later than May 31, 2023, Xave will have the possibility to exchange a portion of the shares of CBI with the liquidity generated by the company. In addition, CBI will pay a supplement to the sellers. This additional price is conditioned by the future profitability of the Xave universe, with a formula that allows CBI to recover its investment before making any payments. The Xave team will also be rewarded based on the level of profitability of Xave’s business. Upon completion of the transaction, CBI will receive 3,250,000,000 of Xave Coins. This corresponds to 65% of the total tokens issued, with the rest assigned to the team with provisions for block or sold through private and public sales.

It should be remembered that the transaction initially envisaged the purchase of the company and the IT development activities for 2,000,000 dollars, with payment in shares and cash and clauses ofearn. After the analysis, as the IT developments are now supported and funded by CBI, the parties have decided to terminate and review the initial operation as indicated above.

The opening of the Xave world is scheduled for autumn 2023.

This operation will be subject to the approval of the CBI shareholders who will decide on the issue of the new shares, during a meeting to be called as soon as possible. The closing of the transaction is expected to take place at the end of the fourth calendar quarter of 2022 / early 2023.

For more information visit: https://xave.world

Disclaimer

The materialization of projects, as well as their operating budget and financing plan, remain fundamentally subject to uncertainties and failure to fulfill the underlying assumptions can have a significant 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, professional applications and selective projects related to blockchains, non-fungible tokens (“NFT”) and cryptocurrencies. Founded by Frédéric Chesnais, a recognized entrepreneur in the video game industry and pioneer of the blockchain, CBI aims to develop and improve a portfolio of blockchain assets covering different sectors (video games, finance, logistics, etc.) to take advantage of this technology, both directly or in collaboration. CBI has already made several investments and is currently developing a virtual world (metaverse) AlphaVerse, based on blockchain technology, which will open in the summer of 2022. CBI shares (FR0014007LW0) are admitted to trading on the E1 (qualified investors) sector on the Euronext Growth Paris market from 26 October 2021. More information on www.cbicorp.io.

contacts

CBI
Frédéric CHESNAIS
CEO
fredchesnais@cbicorp.io
www.cbicorp.io

Sponsor of the advert
Very well
Rodolphe OSSOLA
rodolphe.ossola@atoutcapital.com

Financial communication
Calyptus
Gregorio Bossone
+33 1 53 65 68 68
cbi@calyptus.net

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