Silver Scott Mines, Inc. Signs Memorandum of Understanding With MC2, Inc.
Rhea-AI Summary
Silver Scott Mines (OTC PINK:SILS) has signed a memorandum of understanding with MC2, Inc. to develop blockchain-focused businesses. MC2's Crypton Media NFT platform will serve as the foundation for Silver Scott Digital's initiatives, including TrustNFT.io, a centralized blockchain NFT platform for authentication purposes. Silver Scott owns approximately 9% of MC2, Inc. The collaboration aims to reduce development time significantly, though project completion will take time. The companies plan to leverage the increasing scope and utility of NFTs to address growing digital authentication challenges.
Positive
- Strategic partnership secured with MC2 to accelerate blockchain development
- 9% ownership stake in MC2 provides financial alignment
- Reduced development time through platform utilization
- Ready-to-deploy NFT platform foundation available through MC2's Crypton Media
Negative
- Project timeline remains undefined
- Development team not yet finalized
News Market Reaction – SILS
In the trading session that priced this news, SILS declined 7.33%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MC2, Inc Will Provide the Backbone for Silver Scott Digital Holdings
FRANKLIN, NJ / ACCESSWIRE / November 19, 2024 / Silver Scott Mines, Inc. (OTC PINK:SILS) a diversifying holding company today announced that it has signed a memorandum of understanding with MC2, Inc.
The MOU will be the basis for a broad-based agreement between the companies to build blockchain focused businesses. At its core, MC2, Inc.'s Crypton Media NFT platform will provide Silver Scott Digital companies with a head start to hit the ground running. MC2, Inc. is ready to migrate its Crypton Media platform to the Mainnet. Silver Scott Digital's TrustNFT.io will utilize the foundation that Crypton Media is built on to build a centralized blockchain NFT platform specifically for authentication purposes.
In addition to utilizing MC2 as a platform basis, Silver Scott Digital has spoken with a top-level development team to complete the necessary changes to launch TrustNFT.io. This project will take time to be fully completed, but Silver Scott Digital has reduced its overall development time significantly with this initial agreement.
Doug Williams, CEO of MC2, Inc. stated, "I have worked with Stuart Fine for many years. He has provided guidance and advice that has gotten me to the point where we will be launching our own platform very soon. He approached me with the idea of creating two specific blockchain businesses utilizing our platform. I thought it was a terrific way to show its utility and flexibility of the Crypton Media Platform. I am looking forward to expanding this relationship over the coming months and years."
Stuart Fine, CEO of Silver Scott Mines, Inc. stated, "Silver Scott Mines, Inc. has an approximately
About Silver Scott Mines, Inc.
Silver Scott Mines, Inc.isa holding company with several digital assets currently being held. The company is adding healthcare technology, consumer products, and clean technology to its growing base of operations. Learn more at www.silverscottmines.com.
About MC2, Inc.
MC2, Inc is the owner and developer of Crypton Media. Crypton Media is a premium NFT application focused on emerging markets such as Sports Memorabilia, Music, and Video Licensing, and unique premium NFTs. Our technology allows for attaching a unique identifying tangible asset to an NFT. The Crypton NFT application will be available on Mac, Windows, and mobile devices. It will initially support the MetaMask wallet and operate on the Ethereum Network. We anticipate adding the Polygon network and additional wallets shortly after release. Membership and Loyalty programs for the application are in development and will utilize our Crypton Loyalty Token.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. Words such as expects, believes, anticipates, intends, estimates, seeks and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements with respect to revenues, earnings, performance, strategies, prospects and other aspects of the businesses of Silver Scott Mines, Inc. are based on current expectations that are subject to risks and uncertainties. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements.
Contact Information:
Stuart Fine
CEO
stuartfine@silverscottmines.com
908-356-9852
SOURCE: Silver Scott Mines, Inc.
View the original press release on accesswire.com