More

    DatChat Announces Planned Spin-off of its Habytat Platform Business into a New Standalone Public Company

    Published on:

    DatChat Co., Ltd.

    DatChat social media ecosystem centered around My Family Museum leverages patented data sharing to seamlessly manage storage, sharing, and security

    New Brunswick, N.J., January 16, 2024 (Globe Newswire) — As a strategic measure aimed at increasing focus and streamlining operations, DatChat (NASDAQ: DATS), The secure messaging, social media and metaverse company today announced a proposal to spin off its Habitat Platform business into a new independent public company pursuant to a distribution further described below. This marks a significant step forward in DatChat's corporate strategy and My Family Museum assets.

    DatChat currently owns approximately 75% of SmarterVerse, Inc., which owns and operates the Habytat AI Gaming platform and Metaverse. Subject to board approval, DatChat will distribute his SmarterVerse shares to shareholders. Upon completion of the distribution, SmarterVerse is expected to become an independent public company with plans to list on a national stock exchange.

    If the distribution proceeds, DatChat shareholders will retain their current shares in DatChat and receive a pro rata share of DatChat's SmarterVerse common stock. Distribution is subject to customary conditions, including the filing and effectiveness of a registration statement on Form S-1 or Form 10 with the Securities and Exchange Commission and the receipt of all necessary regulatory approvals. There can be no guarantee that spin-offs and distribution will occur on his DatChat's desired schedule or at all.

    The company recently introduced a new AI social game and developer program to the Habytat metaverse, launching HabyPets, an AI-powered interactive game. This allows users to adopt pets, train them, and show them off in competitions. HabyPets features include pet care, outdoor exploration, dog runs, training, and competitions. HabyPets is designed to open the door to deeper bonds with pets powered by AI that learns and evolves from player interactions and personalization. The new developer program opens up his Habytat interactive platform to both game developers and content creators, allowing them to share in the revenue generated from their games and products. This also includes people who want to showcase their games and products on the Habytat platform. For more information about the developer program, please visit: https://www.habypets.com/.

    DatChat CEO Darin Myman commented: “Today’s announcement reflects a pivotal moment in our company’s evolution. The decision to spin off our Habitat business as a separate, new publicly traded company is significant in several ways. First, We can now focus on our core business. My Family MuseumSecond, this move is consistent with our commitment to unlock shareholder value and create substantial growth and revenue opportunities.Possibility of My Family Museum Driven by the evolving landscape of digital memory. In an era of increasing visual storytelling, the need for a secure platform is growing. With the success of the patent we received last October, we are now uniquely positioned to focus on data preservation, including storage, sharing and secure control across social media technology platforms and digital archives. ”
    About Habitat

    SmarterVerse HabitatIt is a subsidiary of. DatChat Co., Ltd.is a Metaverse platform and privacy-first social network. By dramatically lowering the economic and technological barriers to entry into the Metaverse, Habytat is democratizing access to the digital realm and providing users with incredible opportunities to co-create communities, businesses, and lives. Built on SmarterVerse Holding's patented privacy technology, his Habytat gives users complete control over their data and creates a social network they can trust.Learn more about Habitat Io.

    About DatChat Co., Ltd.

    DatChat Inc. is a secure messaging, metaverse, and social media company focused not only on protecting privacy on personal devices, but also on protecting user information once it has been shared with others. Masu.of DatChat Messenger and Private Social Network allows users to change how long messages can be viewed before or after they are sent, and provides technology that prevents screenshots and hides encrypted photos in plain sight in the camera roll . DatChat's patented technology provides a traditional text-to-text messaging experience while giving users control and security over their messages. DatChat Messenger allows users to decide how long their messages last on the recipient's device, while also allowing them to delete individual messages or entire threads of messages at any time, making it as if the conversation never happened. You can feel safe.

    Forward-looking statements

    Certain statements in this press release constitute “forward-looking statements” within the meaning of federal securities laws. “may”, “might”, “would”, “should”, “believe”, “expect”, “anticipate”, “estimate”, “continue”, “predict” ”, “anticipate”, “plan” and other words. “Words such as “plan,” “intend,” or similar expressions, or statements regarding intentions, beliefs, or current expectations, are forward-looking statements. Although the Company believes that these forward-looking statements are reasonable, undue reliance should not be placed on such forward-looking statements, which are based on information available to the Company as of the date of this release. there is no. These forward-looking statements are based on current estimates and assumptions and are subject to various risks and uncertainties, including, but not limited to, those described in the Company's filings with the SEC. In addition, it is not limited to the risk factors related to our business included therein. Therefore, actual results may differ materially. We expressly disclaim any obligation to update or change any statements, whether as a result of new information, future events or otherwise, except as required by law.

    contact
    ir@datchats.com
    800-658-8081

    Related

    Leave a Reply

    Please enter your comment!
    Please enter your name here