Liquid Avatar name and symbol change better reflects Company's corporate branding
TORONTO, ON / ACCESSWIRE / March 1, 2021 / KABN Systems NA Holdings Corp. (CSE:KABN)("KABN" or the "Company") is pleased to announce that it has changed its name from KABN Systems NA Holdings Corp. to Liquid Avatar Technologies Inc. (www.liquidavatartechnologies.com) and its ticker symbol from KABN to LQID. Subject to approval by the Canadian Securities Exchange (the "CSE"), the Company expects the name and symbol change to take effect for trading purposes on March 3, 2021 when its common shares will begin trading on the CSE under the new name, CUSIP number and new ticker symbol.
On February 18, 2021, the Company launched the first phase of its flagship product, the Liquid Avatar (www.liquidavatar.com) app in the Apple Store and Google Play.
Like search, online communications and browser usage, digital identity is addressable to up to 100% of the online market and is a very early-stage market opportunity, with the potential to reach up to 400 Million people in North America and over 5 Billion people online globally.
According to Statista.com, over 79% of video game users in the US are over the age of 18 with a surprising 41% over the age of 34, showing that video gaming and character creation is widespread through all age categories. Using Liquid Avatar, users are able to select from 1000's of combinations of facial features to create their perfect digital, "cartoon-like" representations of themselves - all at no cost. Future releases of Liquid Avatar will allow users to upload their own digital icon images and create even more realistic versions of themselves as the Company explores new technologies that allow 3D animation and facial embedding on video characters.
"The Company is excited to have Liquid Avatar become the Company name as more people are associating the Company with our flagship product," said David Lucatch, CEO KABN North America. "With over 5 Billion people online and the global landscape evolving to put control of user information back in the hands of those that own it, coupled with the need for digital identity management growing daily, we believe that the Company and its products and programs can provide users, vendors, governments, eCommerce program and others with the ability to easily and efficiently interact while preserving safety, security and data integrity."
Liquid Avatar provides users with an easy and engaging way to share what they want, when they want, and with whom they want, through a biometrically verified access and verifiable identity credentials, based on the Trust over IP Foundation's framework (www.trustoverip.com) giving users the control they need and deserve and the opportunity to benefit, economically, from the personal data they wish to share.
With more websites, services and platforms requiring users to provide personal details and identification to gain access, together with the changing regulatory landscape in California, Canada, Europe, Australia, and other countries, more reliance is being placed on the consumer to manage their online information, identity, and personal data.
Without the right tools, platforms, security and safety, the potential for increased identity fraud and other nefarious activities may continue to accelerate in the online marketplace. Liquid Avatar provides solutions for individuals to manage, control and create value from their digital identity and personal data allowing them to share what they want, when they want and with whom they want through cloud-based, biometrically enabled verifiable credentials, digital wallets, and other cryptographic services.
Liquid Avatar users will also be able to create digital wallets to manage and store a wide range of verifiable identity and access credentials, and to take their conventional identity online, allowing users to prove themselves as easily and effectively as they do in the "physical world".
As the opportunity to manage digital identity is new to most people and to some, the process can be daunting, Liquid Avatar has taken a phased approach to its engagement program. Initially users can sign up for Liquid Avatar using a traditional email and password, but at the point of sign up, they also engage in a "liveness" test, which allows Liquid Avatar to associate the account with a biometric signature. This process, while not invasive and not requiring the user to store any sensitive data on their devices, as Liquid Avatar is primarily a cloud-based platform, does subscribe to a "one user / "one account" philosophy, where every user is known and verified, reducing, if not potentially eliminating fake and / or fraudulent users.
In the future, with Liquid Avatar Marketplace (www.liquidavatarmarketplace.com), users with have the opportunity to trade and sell collectible Liquid Avatars from iconic and up and coming pop culture, anime, and comic book creators. The Company is also investigating other commercial applications that will potentially integrate Liquid Avatar with information, financial, hospitality, eCommerce, and government services.
Liquid Avatar has direct connections to almost 400 North American online brands with cash back deals with KABN KASH and Canadian users can be part of the early sign up for the KABN Visa Card (with further territory expansion in discussion).
As a verified platform, an individual user of Liquid Avatar can only have one account (with possibly multiple digital personas) which potentially reduces the ability for bad actors to create bots and fake accounts. Liquid Avatar users know that when they use and interact with other Liquid Avatar users, they are dealing with real, known people.
While Liquid Avatar is free to consumers and KABN and Liquid Avatar never sells or rents data, the Company believes that verified, known users can create increased value for themselves and select marketers and vendors as they look to reach real people and not fake users or bots. Through the Liquid Avatar platform and approved, permission-based communications, Liquid Avatar will offer up value-based opportunities users can select. At the same time, Liquid Avatar partners who want to reach real, known users will be willing to provide increased value as they won't be spending money to reach fake users and bots.
KABN NA will earn potential revenues through card transaction fees, comarketing, bounties, commissions, and other fees paid by partners and vendors. The Company believes that other consumer and revenue programs will emerge as Liquid Avatar gains traction in the market.
Interested individuals can sign up and receive information and notices on upcoming product releases and services by visiting www.liquidavatar.com, and/or download the app from the App Store and Google Play.
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KABN Systems NA Holdings Corp. / Liquid Avatar Technologies Inc. through its wholly owned subsidiary KABN Systems North America Inc. focuses on the verification, management and monetization of Self Sovereign Identity, empowering users to control and benefit from the use of their online identity.
Liquid Avatar is a verified Self Sovereign Identity platform that empowers users to create high quality digital icons representing their online personas. These icons allow users to manage and control their digital identity and Verifiable Access and Identity Credentials, and to use Liquid Avatars to share public and permission based private data when they want and with whom they want. www.liquidavatar.com
KABN North America has a suite of revenue generating programs that support the Liquid Avatar program, including KABN KASH a cash back and reward program that has over 300 leading online merchants and coming soon, an integrated offering engine. In Canada, KABN also has the KABN Visa Card, a "challenger banking" platform that allows users to manage and control a range of financial services for traditional and digital currencies. The Company is currently exploring expansion of the KABN Visa program to other geographic regions, including the USA.
KABN Systems NA Holdings Corp. is publicly listed on the Canadian Securities Exchange (CSE) under the symbol "KABN" (CSE:KABN).
The Company also trades in the US under the symbol "TRWRF" and in Frankfurt under the symbol "4T51"
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Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but is not limited to, information concerning the ability of the Company to generate revenues, roll out new programs and to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: changes in general economic, business, and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, or expected.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
SOURCE: KABN Systems NA Holdings Corp.