WENZHOU, China, May 10, 2021 /PRNewswire/ -- ZK International Group Co., Ltd. (Nasdaq: ZKIN) ("ZKIN", "ZK International"
or the "Company"), is pleased to announce that xSigma
Corporation, a subsidiary of the Company and a blockchain R&D
lab, announces that the xSigma NFT Marketplace will go live on the
25th of June. Visit our website, sign up, and see what is to come
for our NFT Marketplace at: https://xsigma-nft.com
In addition, xSigma is pleased to reveal that the xSigma NFT
Marketplace will be supported by both the Binance Smart Chain
("BSC") and the Ethereum network upon its launch. The Company has
chosen to use the BSC as it has gained impressive traction so far
by the blockchain community, where they are transacting over 7
million transactions a day, it has more active wallets than
Ethereum, and the Total Value Locked in DeFi projects on the BSC
has reached $36 billion.
The NFT industry keeps growing and attracting more creators and
customers. Since the Company's last announcement about the xSigma
NFT Marketplace, the NFT industry's cumulative sales volume has
surpassed $1.6 billion, according to
DappRadar.com.
To date, the xSigma NFT Marketplace has collected thousands of
subscriptions to its waitlist. xSigma is currently working on
getting celebrities, athletes and brands onboard to its NFT culture
marketplace and more exciting news about the xSigma NFT Marketplace
will be revealed in the coming weeks.
Mr. Huang, Chairman of xSigma, stated, "we are pleased to
announce that we are moving quickly into the next boom of the
monetizing of digital assets of the innovative industry known as
Non-Fungible Tokens. We have invested into xSigma to create value
and we are excited of having the xSigma NFT Marketplace going live
at the end of June."
What are Non-Fungible Tokens?
Non-Fungible Tokens ("NFTs") are easily exchangeable and
individually unique digital assets which are held on certain
blockchains, mainly Ethereum but also others such as Binance, Flow,
Wax, and many others.
One of the key differences between Cryptocurrencies and NFTs is
that every NFT is completely and not directly interchangeable with
any other asset by identity, value, and/or utility. Every NFT is
composed of metadata which gives each one their individuality.
These attributes can include size, artist name, scarcity etc. NFTs
not only exist in a digital space but crucially they can also
represent any type of physical asset, acting as a kind of "digital
twin" to anything existing in the real world and enabling the
ownership and exchange of physical possessions within digital
marketplaces.
True ownership is one of the defining key components of any NFT
and, as the digital economies continue to thrive, there is no doubt
that NFTs will play a pivotal role in bringing the digital and
physical worlds closer to one another than they have ever been
before.
According to the report by Canadian-based analytics
company NonFungible, they indicated that "the total market cap
for project-based NFTs finished was $338
million at the close of 2020. Messari research analyst
Mason Nystrom believes this figure could rise to more
than $1.3 billion in 2021." The
report goes on to indicate, that it is predicting that 2021 is
poised for "a new Bull Market in the NFT industry."1
1 New report predicts NFTs
will explode in popularity during 2021
(cointelegraph.com)
About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. is a China-based designer,
engineer, manufacturer and supplier of patented high-performance
stainless steel and carbon steel pipe products that require
sophisticated water or gas pipeline systems. The Company owns 28
patents, 21 trademarks, 2 Technical Achievement Awards, and 10
National and Industry Standard Awards. ZK International is
preparing to capitalize on the $850 Billion commitment made by
the Chinese Government to improve the quality of water, which in
its current supply state is 70% unfit for human contact. ZK
International is Quality Management System Certified (ISO9001),
Environmental Management System Certified (ISO1401), and a National
Industrial Stainless Steel Production Licensee that is focused on
supplying steel piping for the multi-billion dollar industries of
Gas and Water sectors. ZK has supplied stainless steel
pipelines for over 2,000 projects, which include the Beijing
National Airport, the "Water Cube" and "Bird's Nest", which were
venues for the 2008 Beijing Olympics. Emphasizing superior
properties and durability of its steel piping, ZK International is
providing a solution for the delivery of high quality, highly
sustainable, environmentally sound drinkable water to not only to
the China market but to international markets such
as Europe, East Asia and Southeast
Asia.
For more information please
visit www.ZKInternationalGroup.com. Additionally,
please follow the Company
on Twitter, Facebook, YouTube,
and Weibo. For further information on the Company's SEC
filings please visit www.sec.gov.
About XSigma Corporation
XSigma Corporation, is a subsidiary of ZK International Group
Co., Ltd. Together with ZK International, has launched xSigma as a
research and development lab back in 2018 to solve real-world
infrastructure challenges. Its mandate was to explore new
opportunities in smart contracts, supply chain management and other
blockchain-based solutions. XSigma has since pivoted to
decentralized finance, focusing on decentralized exchanges,
stablecoins and lending protocols. The research lab is now actively
working on its ecosystem of products beginning with its DeFi
protocol. The ultimate objective is to build a range of financial
tools and products for the flourishing decentralized finance
industry. The xSigma team that are being assembled are on the
leading edge of blockchain research and development that intersects
decentralized finance, supply chain management, IoT, and
infrastructure. The DeFi protocol is one of many decentralized
finance projects xSigma plans to launch over the next 12 months. It
will feed into a growing network of DeFi products for enterprise
and consumer markets. Any blockchain protocol is subject to a
degree of risk; xSigma's DeFi protocol has implemented
tamper-resistant programming, but is still subject to potential
hacks.For further information about xSigma, please visit its
website at www.xsigma.com, www.xsigma.fi,
https://xsigma-trading.com and
https://xsigma-nft.com
Safe Harbor Statement
This news release contains 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,
and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. Without limiting the generality of the foregoing, words
such as "may," "will," "expect," "believe," "anticipate," "intend,"
"could," "estimate" or "continue" or the negative or other
variations thereof or comparable terminology are intended to
identify forward-looking statements. In addition, any statements
that refer to expectations, projections or other characterizations
of future events or circumstances are forward-looking statements.
These forward-looking statements are not guarantees of future
performance and are subject to certain risks, uncertainties and
assumptions that are difficult to predict and many of which are
beyond the control of ZK International. Actual results may
differ from those projected in the forward-looking statements due
to risks and uncertainties, as well as other risk factors that are
included in the Company's filings with the U.S. Securities and
Exchange Commission. Although ZK International believes that
the assumptions underlying the forward-looking statements are
reasonable, any of the assumptions could prove inaccurate and,
therefore, there can be no assurance that the results contemplated
in forward-looking statements will be realized. In light of
the significant uncertainties inherent in the forward-looking
information included herein, the inclusion of such information
should not be regarded as a representation by ZK International or
any other person that their objectives or plans will be achieved.
ZK International does not undertake any obligation to revise the
forward-looking statements contained herein to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Investor Contact:
Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
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SOURCE ZK International Group Co., Ltd.