Authentic Heroes and Maestro
Entertainment Enter into Joint Venture to Create Vinyl Records and
Music NFT Bundles
Somerville, NJ --
January 28, 2022 -- InvestorsHub NewsWire -- Global Fiber
Technologies, Inc., (OTC
PINK: GFTX) subsidiary Authentic Heroes, Inc., has entered into
a definitive agreement with Maestro Entertainment, LLC., to create
music driven opportunities.
Global's President
Chris Giordano stated, "Our joint venture with Maestro
Entertainment is a watershed deal for both sides. The Maestro
catalog consists of over 17,000 songs from the 40's 50's, 60's,
70's & 80's across the entire genre of music. They include
spectrum of artists, many of them whom are Grammy Award winners
ranging from Bob Marley, The Jackson 5, Jefferson Airplane to BB
King.
We will marry this
massive library of "legacy music" with our ability to market and
distribute the music compilations into brick and mortar stores
including "Mass Merchandisers", "Hypermarkets" and "Big Box
Stores". We will do this through a joint venture we are developing
with a large "Direct Response" marketing partner which has a
footprint of over 100,000 stores, and 5 million active retail
customers as part of their customer base. We expect to finalize
terms of the joint venture in the coming weeks and then start the
march in developing "planograms" with the brick and mortar stores
for of what could be our first delivery schedules later this
year.
Demand for Vinyl
Records is outpacing the supply available in the distribution
system. We strongly feel we are in the right place at the right
time. Vinyl record collecting is becoming non-generational. From
Gen Z through Baby-Boomers Vinyl is in very high demand and we
expect that trend to remain intact for years to come.
https://www.latimes.com/entertainment-arts/music/story/2022-01-05/adele-taylor-swift-vinyl-lp-shorta
Our Entry into the Digital World
Another area and large
opportunity utilizing the Maestro catalogue is to design and mint
individualized music NFTs and pair them with a Limited Edition
Vinyl Records. In some cases, offer a "bundle" that
could also include an Authentic Heroes "Made from the Original"
collectible. These are articles of clothing that were "stage worn"
or "session worn" items. Utilizing our patented technology, the
original item morphs into a multiplicity of authenticated,
registered on our blockchain collectible.
We are now augmenting
our NFT design with a CSE Award winning company from the VR world
and the NFTs we create will now be show stoppers judging from the
work we have seen by them to date. Our NFTs will be driven by AI
"artificial intelligence" and include music tracks, AI driven art
form and content such as the "original contract" between the studio
and the artist.
Some of the components
necessary to have a successful NFT is to have a real point of
distinction, scarcity and ultimately a solid "whitelist" of
potential NFT buyers. We will start the march shortly in developing
our whitelist utilizing Crypto PR https://cryptopr.com/ for our outreach into both the
Twitter and Discord communities.
Once we have
established a baseline whitelist community we would look to
announce our first NFT drop which could include a music NFT matched
with a vinyl record and a stage worn collectible creating the
ultimate collectors bundle
We look forward to
keeping our shareholders apprised of our progress with Maestro
Entertainment and look to our next communication.
www.globalfibertechnologies.com
About Maestro Entertainment Corp:
Founded in 2003.
Since 2003 the Company has acquired the rights to over 16,000
master song recordings from the 1940's, 50's 60's and 70's from
some of the most recognizable bands and singers in the music
industry. Catalog songs cover numerous genres: country, rock,
classical, blues, gospel, pop, reggae, jazz, etc. The company
maintains a warehouse holding 1,000s of historical, original,
unrestored artist studio recordings in different formats from
1940's - 1970's. Maestro has maintained a Electronic Distribution
Agreement since 2003 with SONY/ THE ORCHARD.
About Global Fiber Technologies, Inc.:
Global Fiber
Technologies, Inc. is a ECO-technology holding company that
specializes in the "repurposing" of textile fibers. The Company
operates through three subsidiaries, Authentic Heroes Inc.,
ECOTEK360 and Fiber-chain LLC. The Company uses its patented
technologies and proprietary trade secrets that will bring cutting
edge attributes and value added properties to textile and apparel
industries. The Company will market its branded products to both
the B2B and B2C markets which will include the corporate, hotel,
hospital, and military and E-Commerce Consumer markets.
Safe Harbor Act
Forward-Looking
Statements: This release contains statements that constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements
appear in a number of places in this release and include all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of Global Fiber
Technologies, Inc., its directors or its officers with respect to,
among other things: (i) financing plans; (ii) trends affecting its
financial condition or results of operations; (iii) growth strategy
and operating strategy. The words "may," "would," "will," "expect,"
"estimate," "can," "believe," "potential" and similar expressions
and variations thereof are intended to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statements including those relating to the Company's financing
being adequate for the Company to place its products in retail
stores, execute its acquisition strategy, and to launch its growth
and expansion plans, among others, are not guarantees of future
performance and involve risks and uncertainties, many of which are
beyond Global Fiber Technologies, Inc.'s ability to control, and
actual results may differ materially from those projected in the
forward-looking statements as a result of various factors. No
information in this press release should be construed in any way
whatsoever as an indication of Global Fiber Technologies Inc.'s
future revenues, financial performance or stock price. More
information about the potential factors that could affect the
business and financial results is and will be included in Global
Fiber Technologies, Inc., filings with the Securities and Exchange
Commission at www.sec.gov.