Global Blockchain Mining Corp (CSE:FORK) (OTCMKTS:GBCHF) told investors Monday that its client Nuvo Cash, the UK social media company, will be launching a messaging platform called Nuvo Chat on April 19.
Nuvo Chat will be a decentralized platform for text and media messaging, as well as VoIP and video calling.
The user experience for Nuvo Chat will be built primarily around group discussions, similar to platforms such as Slack, Discord and Telegram. But it will operate on the Nuvo blockchain network, giving Nuvo Chat users the same protections as Nuvo-based social media communities, which focus on user privacy and immunity to censorship.
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The debut of Nuvo Chat creates value for Global Blockchain ( which is changing its name to Metaverse Capital Corp) since by operating a layer two decentralized network for both messaging and social media ( such as Nuvo) on a layer-one decentralized infrastructure network such as its partner Ammbr, a fully decentralized communications and media distribution network will be created.
“The creation of such a network stands to create substantial social benefits on a global scale by creating new opportunities, and introducing previously unknown freedoms to many regions,” according to Global Blockchain’s press release.
Global Blockchain has been working with Nuvo Cash since the end of 2018 to assist in developing the Nuvo blockchain network, which acts as the foundation for a number of blockchain-based social media networks that are resistant to censorship, and enable the users to be paid in NUVO tokens (the network's own cryptocurrency) in exchange for sharing content and voting on postings.
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Global Blockchain is also administering the NUVO token sale on behalf of Nuvo Cash. The sale began on April 12 on the Korean digital asset exchange ProBit and participants in the sale can currently benefit from a purchase bonus of as much as 10%.
To date, there is one social media community on Nuvo called Jamaa, which is geared towards users in Africa, and currently has more than 15,000 users.
Just last week, Global Blockchain announced that it is changing its name to Metaverse Capital Corp. When the name change is made formal, a statement will be issued.
Global Blockchain shares closed at US$0.18 in over-the-counter trading on Friday.
Contact Ellen Kelleher at [email protected]