TORONTO, ON / ACCESSWIRE / January 30, 2024 / Orthogonal Global Group Inc. ("Orthogonal" or the " Company ") (CSE:OGG)(OTC PINK:OGGIF)(FSE:KZ2), a global accelerator and public investment platform focused on furthering initiatives in the wellness, healthcare, AI, digital ownership, deep tech and fintech spaces is elated to unveil the creation of 4worlds, a metaverse universe, and a Decentralized Autonomous Organization (" DAO ") on the Bitcoin blockchain.
The project represents an advancement in digital experiences, merging virtual reality (" VR "), augmented reality (" AR "), and decentralized decision-making. 4worlds will feature a series of 3D-generated environments, known as "Mindscapes," linked through digital portals. Mindscapes are immersive AR and VR experiences designed to augment therapy and spiritual practices.
Users will be able to design various Mindscapes and propose their inclusion in the 4worlds collective. The 4worlds DAO, operating on a democratic voting system, will oversee these additions, cultivating a diverse and rich digital universe driven by its community.
Utilizing Bitcoin Taproot assets, 4worlds will be at the forefront of DAO development on the Bitcoin blockchain. The project's communication and coordination layers are being developed on the Nostr social networking protocol, ensuring a decentralized and robust platform.
Once integrated into the 4worlds universe, developers will be able to monetize their Mindscapes. They also have the opportunity to expand the network by linking their creations with others through 4worlds portals, opening avenues for affiliate partnerships.
Orthogonal has formed strategic partnerships with Milo Media Technologies (" Milo Media ") for this venture. Milo Media, Co-Founded by Orthogonal board member Shidan Gouran, specializes in developing a Nostr client and protocol for Bitcoin blockchain DAOs.
"4worlds is an evolution of our previous projects, expanding our 2019 venture into the Sandbox Metaverse," said David Nikzad, CEO and Co-Founder of Orthogonal. "We're now making a significant move into a more decentralized metaverse tailored for experiences."
Shidan Gouran, Co-Founder of Milo Media and Orthogonal board member, emphasized the project's innovative nature: "4worlds is a trailblazer, being among the first DAOs on the Bitcoin blockchain, built on the decentralized Nostr communications layer. Its success could pave the way for future dAPP development on Bitcoin, offering a more open alternative for AR/VR, gaming, and metaverse developers compared to other major platforms that already exist."
4worlds is an open, decentralized platform that aims to provide creative and therapeutic exploration opportunities in the digital landscape. This initiative highlights Orthogonal's commitment to innovation and its vision for a more interconnected, experiential digital future that is compliant with industry standards. Orthogonal is incubating 4worlds as a wholly-owned subsidiary and plans to launch the 4worlds metaverse in early July 2024.
Walid Benothman, Kevin Soltani, and Philip Lord, members of Orthogonal's advisory board, will utilize their collective experience to oversee the project.
Walid was formerly Head of BD and Institutional Sales at The 1inch Network, the world's largest aggregator of DeFi exchanges and was instrumental in its success. Joining Curv in 2020, he led Growth and Strategy for EMEA, positioning Dubai as a hub. His strategic direction led to Curv's acquisition by PayPal, a milestone in crypto acceptance. From 2016 to 2020, Walid served as Head of EMEA Sales for the Blockchain pioneer, Ripple Labs, driving pivotal initiatives in institutional sales, partnerships, and go-to-market strategies, which significantly contributed to XRP's ecosystem and utility.
Kevin offers over a decade of experience in the alternative investments industry. As the founder and CEO of GIMA Group, Inc., Kevin specializes in blockchain, proptech, gaming/esports, and the metaverse, with four prior exits and one IPO in the company's history. Throughout his career, Kevin actively raised funds, fostered strategic partnerships, capitalized on startup potential, and broadened market horizons.
Philip brings with him a wealth of knowledge and expertise in the web3.0 space. His extensive background as President at Oobit and an investment banker, serial blockchain investor, and former non-executive director at Luna PR equipped him adeptly for steering strategic partnerships, spearheading business development, and executing powerful marketing strategies.
Visit Orthogonal's newly branded website at www.orthoglobalgroup.com.
About Orthogonal Global Group
Orthogonal Global Group Inc. is a global accelerator, and public investment platform focused on accelerating and investing in the top companies and projects in disruptive industries. Orthogonal provides access to these groundbreaking companies and private projects in a public investment vehicle with liquidity and transparency. We believe it is in the Orthogonal intersection of wellness, healthcare, AI, tokenization, deep tech and fintech spaces that will move humanity towards a more utopian society.
Orthogonal remains focused on developing a Utopian Asset Class portfolio - a portfolio that provides investor returns and collectively bends the arc of humanity towards a utopian society through accelerating and investing in the top companies and projects in emerging industries.
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Cautionary Note Regarding Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the news release, such forward-looking statements include, but are not limited to, statements regarding the Company's performance, business objectives, milestones and the potential outcomes from its development contained therein.
In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation: the Company's ability to comply with all applicable regulations and laws, including environmental, health and safety laws; the success of 4worlds as a metaverse universe and a DAO on the Bitcoin blockchain; the experience of Orthogonal's advisory board to oversee the project; the Company has sufficient working capital for future operating activities; the ability of the Company to achieve its business objectives and milestones and the anticipated timing of execution; the Company's ability to continue as a going concern; the Company's ability to achieve profitability in the 2024 fiscal year; the Company's ability to obtain additional financing for continued operations on terms acceptable to the Company outlined herein.
The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: changes in general economic, business and political conditions, including changes in the financial markets; consents or authorizations required; changes in laws, regulations and policies affecting the Company's operations; currency fluctuations; environmental issues and liabilities; the inability of the Company to obtain additional financing for continued operations on terms acceptable to the Company; the lack of control over the Company's investees; risks relating to investing in the SVS; volatility in the market price of the Company's SVS; dilution of shareholders' holdings; negative operating cash flow; the negative effects of interest rate and exchange rate changes; the potential impact of health crises and market instability due to the COVID-19 pandemic; risks relating to the Company's reliance on key employees; limitations in the liquidity of the SVS; litigation risks; risks with the integration of new businesses and acquisitions; risks related to the Company's status as an "emerging growth company" under the U.S. securities laws; the Company's inability to expand into new business areas and geographic markets; management of growth; the risk of defaulting on existing debt; the Company's inability to continue as a going concern; and the Company's inability to achieve profitability in 2024.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties, and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated, or intended. The Company does not intend and does not assume any obligation to update this forward-looking information except as otherwise required by applicable law.
SOURCE: Orthogonal Global Group.