TIDMNFTX 
 
LOOKING GLASS LABS LTD. 
 
                            N E W S   R E L E A S E 
 
              Update on LGL's Pocket Dimension Metaverse Roll-Out 
 
Looking Glass Labs Celebrates Alpha Release of Pocket Dimension Metaverse 
Assets with Positive Consumer Reviews and Platform Growth Ahead of Beta Release 
 
Vancouver, British Columbia - December 5, 2022 / Cision / - Looking Glass Labs 
Ltd. ("LGL" or the "Company") (NEO: NFTX) (AQSE: NFTX) (OTC: LGSLF) (FRA: H1N), 
a leading Web3 platform specializing in non-fungible token ("NFT") 
architecture, immersive metaverse environments, play-to-earn tokenization and 
virtual asset royalty streams, announces that it and its flagship studio, House 
of Kibaa ("HoK"), have received positive reviews regarding its November 2, 2022 
release (the "Alpha Release") of its Pocket Dimension digital metaverse assets 
(the "Pocket Dimension"). Increased engagement on the Company's Twitter 
platform and positive reviews from users are a testament to the success of the 
Alpha Release for both LGL and HoK. The Company's metaverse is continually 
being designed to provide the highest resolution and most realistic experience 
technically available today. 
 
The following statistics demonstrate that the Alpha Release of the Pocket 
Dimension has increased users' organic engagement and follower growth of the 
Company: 
 
  * An increase of 18% in Q4 compared to Q3 in overall engagement of Twitter 
    users with respect to HoK; 
  * An increase of 8% in the last 28 days, and an increase of 148% in November, 
    compared to October in Twitter likes of the Company's content; 
  * An increase in Twitter replies to HoK content by 140%; 
  * An increase in new Discord Twitter members of 180% on a weekly basis since 
    the start of the campaign, which started on October 18, 2022; and 
  * An increase in organic Twitter impressions by 7.5% in the last 28 days, and 
    reaching 65% of all October impressions since November 1, 2022. 
 
Positive user reviews regarding the Alpha Release of the Pocket Dimension have 
typically been received according to the following themes: 
 
  * The artistic and paradise-like environment of the metaverse; 
  * The quality of the metaverse; and 
  * The value of the metaverse compared to others. 
 
Background 
 
The Pocket Dimension metaverse is a hyper-realistic digital world that is being 
built using the latest version of Unreal Engine in order to offer users a 
premium virtual experience. Each Pocket Dimension features one of eleven 
different environments including Archipelago, Countryside, Dale, Dunes, Fjord, 
Marsh, Savanna, Tundra, Woodland and Zen, as well as the aforementioned Genesis 
Moon environment exclusively for Genesis Membership holders. Each environment 
offers users various forms of utility including but not limited to hosting 
events with their community, integrating custom structures and adding digital 
assets. 
 
Pocket Dimension is a private space representing an area size of approximately 
four acres in which parcels provide their owners with additional unique 
benefits such as being blockchain agnostic with wide NFT compatibility 
(Polygon, Ethereum, etc.), an extensive avatar system, a unique Non-Playable 
Characters host system and more. Landowners will also have access to the 
broader suite of utilities that HoK will develop over time. 
 
Management Commentary 
 
"As the metaverse and NFTs continue to see rapid growth, it is important for 
HoK to make Pocket Dimension accessible to users, which is what we aimed to do 
with the Alpha Release. The positive reviews that users have delivered thus far 
are encouraging to our team at LGL, and we are thrilled that the Alpha Release 
has resulted in satisfied users and increased engagement on the Company's 
Twitter platform," said Dorian Banks, Chief Executive Officer at LGL. 
 
The Directors of Looking Glass Labs take responsibility for this announcement. 
 
This announcement contains inside information for the purposes of Article 7 of 
the Regulation (EU) No 596/2014 on market abuse. 
 
"Dorian Banks" 
 
Dorian Banks, Chief Executive Officer 
 
Twitter: @DorianBanks 
 
For further information, please contact: 
 
Dorian Banks 
 
Toll-Free: +1 833 LGL-NFTX (833-545-6389) 
 
Email: info@lgl.io 
 
Twitter: @LGL_io 
 
Website: https://www.lgl.io/ 
 
Novum Securities Limited, AQSE Corporate Adviser 
 
David Coffman/ George Duxberry 
 
Tel: +44 (0)207 399 9400 
 
ABOUT LOOKING GLASS LABS 
 
Headquartered in Vancouver, British Columbia, Looking Glass Labs ("LGL") is a 
Web3 platform specializing in non-fungible token ("NFT") architecture, 
immersive metaverse environments, play-to-earn tokenization and virtual asset 
royalty streams. Its leading brand, House of Kibaa ("HoK"), designs and curates 
a next generation metaverse for 3D assets, which allows functional art and 
collectibles to exist simultaneously across different NFT blockchain 
environments. HoK has successfully released digital assets to include 
GenZeroes, which sold out in just 37 minutes for total proceeds to LGL of CAD 
6.2 million, in addition to a perpetual 5% royalty stream on secondary market 
sales. HoK plans to launch a hyper-realistic metaverse built on the latest 
version of Unreal Engine in 2022. 
 
To view LGL's current investor presentation, please visit https://www.lgl.io/ 
investors. 
 
To join LGL's mailing list, please subscribe via the following link: https:// 
www.lgl.io/contact-us. 
 
Forward-Looking Information 
 
This news release contains "forward-looking statements." Statements in this 
news release that are not purely historical are forward-looking statements and 
include any statements regarding beliefs, plans, expectations, or intentions 
regarding the future. Such forward-looking statements include, among other 
things: the development of Pocket Dimension, the Company's goal to become the 
leading digital studio specializing in NFT architecture, immersive metaverse 
design and virtual asset display monetization streams; intention to build out a 
portfolio of perpetual NFT royalty streams through collaborations, accretive 
acquisitions and other arrangements, to potentially result in consistent, 
de-risked and passive revenue; and the near-term projects and future projects. 
 
The material assumptions supporting these forward-looking statements include, 
among others, that: the Company could mitigate the risks associated with the 
blockchain and NFT industry; the ability to compete with other businesses in 
the NFT market; the availability of sufficient funding to carry out the 
Company's business development plans; favourable market conditions; the ability 
of HoK to sell all or substantially all of its product offerings; the market 
acceptance for its products; and the ability to complete the development of 
Pocket Dimension in a timely manner. 
 
Although management considers these assumptions to be reasonable based on 
information currently available to it, they may prove to be incorrect. These 
forward-looking statements are only predictions and involve known and unknown 
risks, uncertainties and other factors, including: the continued growth and 
adoption of NFT and metaverse offerings by the consumer market; the cost of 
developing and designing NFTs and metaverses is economically viable; the 
Company being able to attract and retain a sufficient workforce with desired 
skillsets to develop the Company's NFT and metaverse offerings; the 
availability of offerings provided by third-parties in the NFT, metaverse 
development and online gaming market to identify potential transactions; the 
increasing adoption of NFTs as a solution for various online gaming, 
entertainment and collectible uses; the Company having the ability to mitigate 
the risks associated with the blockchain and NFT industry; and the ability to 
compete with other businesses in the NFT, metaverse development, content 
creation and collectibles market. 
 
Although management considers these assumptions to be reasonable based on 
information currently available to it, they may prove to be incorrect. These 
forward-looking statements are only predictions and involve known and unknown 
risks, uncertainties and other factors, including: the risk that the Company's 
offerings are not accepted by the consumer, the risk that other competitors may 
offer similar digital offerings; the risk that there may be negative changes in 
general economic and business conditions; the risk that the Company may have 
negative operating cash flow and not enough capital to complete the development 
of any of its technologies; the risk that the Company may not be able to obtain 
additional financing as necessary; the risk that there may be increases in 
capital and operating costs; the risk that the NFT technology may be subject to 
fraud and other failures; the risk that there may be technological changes and 
developments in the blockchain that make the NFT solutions obsolete; risks 
relating to regulatory changes or actions which may impede the development or 
operation of the blockchain solutions; the risk that other competitors may 
release similar blockchain offerings; the potential future unviability of the 
NFT market in general; the volatile cost of the amount of computational effort 
required to execute specific operations on the blockchain, and other general 
risks involved in the blockchain solutions. 
 
Risks and uncertainties about the Company's business are more fully discussed 
in the Company's disclosure materials, including its reports filed with the 
Canadian securities regulators and which can be obtained from www.sedar.com. 
 
Any of these risks may cause the Company's actual results, levels of activity, 
performance or achievements to be materially different from any future results, 
levels of activity, performance or achievements expressed or implied by these 
forward-looking statements. Further, although the Company has attempted to 
identify factors that could cause actual results, levels of activity, 
performance or achievements to differ materially from those described in 
forward-looking statements, there may be other factors that cause results, 
levels of activity, performance or achievements not to be as anticipated, 
estimated or intended. These forward-looking statements are made as of the date 
of this news release, and the Company assumes no obligation to update the 
forward-looking statements, or to update the reasons why actual results could 
differ from those projected in the forward-looking statements, except as 
required by applicable law, including the securities laws of the United States 
and Canada. Although the Company believes that any beliefs, plans, expectations 
and intentions contained in this news release are reasonable, there can be no 
assurance that any such beliefs, plans, expectations or intentions will prove 
to be accurate. The Company does not assume any liability for disclosure 
relating to any other company mentioned herein. 
 
SOURCE: LOOKING GLASS LABS LTD. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

December 05, 2022 03:01 ET (08:01 GMT)

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