VAYK Applies Crypto Treasury Strategy to Monetize $10-20 Million of Historic Landmarks
This strategy is part of the company's comprehensive business plan to offer a one-stop service solution for the
"We have always been pioneers in exploring the potential of applying cryptocurrency strategies to daily business operations," stated
"Now is the time to launch it," declared Armstrong.
The concept is to leverage the unique and fungible cultural value of historic landmark buildings while renovating these buildings into boutique short-term rentals (such as Airbnb). The company will sell NFT tokens, each minted using unique visual records of the renovation process of the historic landmarks, with a bonus feature of a one-night free stay at these buildings after they are renovated into Airbnb properties. Furthermore, the proceeds from selling these NFTs will be managed under a cryptocurrency treasury account, from which the potential gains will be split between the company and the NFT holders.
"One of the great features of utilizing NFTs and a crypto treasury is that they will not dilute the value of current shareholders, but will add an extra source of profit for them," added Armstrong. "These NFTs and cryptocurrencies will monetize intangible historic and cultural value, which is not reflected in our current balance sheet and therefore has not been used to increase our current shareholders' equity value. Once monetized, they will not only benefit the NFT holders but also may generate significant revenue for current shareholders."
Armstrong projected that the NFT and its linked crypto treasury account would become operational in a few months. The first group of NFTs will be released on basis of the historic landmark
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
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