ACCESS Newswire
18 Oct 2021, 15:55 GMT+10
LANDER, WY / ACCESSWIRE / October 18, 2021 / Signature Devices, Inc. (OTCPK:SDVI) - today announced the receipt of 1 Million Genius Tokens valued at approx $3.50 per token (1 GNUS token = 1/1000th Ethereum) from Genius Ventures, Inc., in support of their joint venture. Genius is launching a CryptoCurrency that, through embedded AI Processing, will be used in video games published by Graffiti Entertainment, Inc., (a subsidiary of Signature Devices). These types of CryptoCurrencies are sometimes called Utility Tokens, as the currency will be used for the processing of Artificial Intelligence. Graffiti Entertainment, Inc., a software developer & publisher, is integrating the CryptoCurrency into video games for smartphone, desktop/laptop, console or tablet via the internet-of-things (IoT) to enable players to generate Genius Tokens.
Each connected game will use the devices idle time to execute artificial intelligence processing and receive CryptoCurrency in an internal wallet that can be used to purchase game currency, media such as Movies & Music and even redeem the CryptoCurrency for other currencies. The agreement terms are as follows: Signature Devices, Inc. through its subsidiary Graffiti Entertainment received tokens from the initial allocation of CryptoCurrency as an asset to the company. Roger Arias, CEO of Graffiti Entertainment commented that 'The approximately $3.5 million dollar cryptocurrency asset will allow Graffiti Entertainment to earn that crypto by enabling the blockchain system in games whereby the games will have the flexibility to be completely free to play in addition to providing support for Non-Fungible Tokens (NFT). 'The CryptoCurrency is based off of the Ethereum Blockchain and is utilizing smart contracts for the payment system and a fast off-chain system for A.I. Processing. There are varied devices that will be able to earn the CryptoCurrency by utilizing the idle time of GPUs for the A.I. processing. Graffiti games intends to let each device/device owner receive 70% of the payments for that processing, Graffiti will receive 20% and Genius Ventures, Inc will receive 10% as a license fee.
Based in Sheridan, Wyoming, Signature Devices, Inc. (www.signaturedevices.com
) (OTC PINK:SDVI) is a holding company with a subsidiary that develops, and publishes diverse media products including video games and mobile applications through Graffiti Entertainment, Inc.
CONTACT:
Investors Relations
[email protected]
650-654-4800 ext 111
http://www.signaturedevices.com
SOURCE: Signature Devices, Inc.
Get a daily dose of Raleigh Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Raleigh Times.
More InformationNEW YORK CITY, New York: Oil prices remained steady on June 9 as investors looked ahead to the outcome of the U.S.-China trade talks...
CHANDRAPUR/SOLAPUR (India): As India doubles down on coal to fuel its growing energy needs, an invisible crisis is surfacing: the country...
NEW YORK, New York - U.S. stock markets rose Tuesday as investors and traders anticipated a positive outcome from ongoing trade talks...
BEIJING/WASHINGTON, D.C.: In a rare move aimed at easing mounting supply chain pressure, China has issued temporary export licenses...
BERN, Switzerland: UBS faces a sweeping new capital requirement from the Swiss government, which this week proposed changes that could...
NEW YORK CITY, New York: At a Walmart Supercenter in New Jersey, buttercream borders and edible-ink cartoons aren't just about sweet...
WASHINGTON, D.C. A public fight between U.S. President Donald Trump and billionaire Elon Musk has taken over social media, especially...
President Donald Trump has vowed jail time for protesters who burn US flags, calling them paid insurrectionists Protests in Los Angeles...
London [UK], June 11 (ANI): The 'Ultimate Test' has come for David Bedingham. A man amongst the new crop of comparatively inexperienced...
Los Angeles [US], June 11 (ANI): California Governor Gavin Newsom condemned President Donald Trump's deployment of the military in...
NEW YORK, June 11 (Xinhua) -- Demonstrations against the Trump administration's immigration crackdown have intensified and spread far...
The restrictions will be in effect in a section of downtown from 8 p.m. to 6 a.m A curfew has been imposed in downtown Los Angeles...