Authentic Heroes and Maestro Entertainment Corp., Sign
SOMERVILLE, NJ, November 15, 2021 (GLOBE NEWSWIRE) – via InvestorWire – Global Fiber Technologies, Inc., (OTC PINK: GFTX) through its subsidiary Authentic Heroes, Inc., today announced that it has entered into a letter of intent to initially form a joint venture with Maestro Entertainment, Corp and use their holding company to initially license the music catalog de Maestro of over 10,000 master records and also leverage Maestro’s industrial relations to create additional opportunities for the combined site.
The transaction will bring synergy between the companies which will initially create and sell non-fungible âMusic Tokensâ and vinyl records which will be marketed either individually or in groups. The company believes the joint venture will create both a physical and digital footprint while establishing a new record label.
The relationship will also give us connectivity to a digital multimedia recording studio of highly trained sound engineers at a 5,000 square foot facility in Knoxville, TN. This will give us the ability to work with contemporary artists to create original audio recordings as well as the ability to digitally remaster older recordings. It will also give us the ability to create video and animation productions, as well as other entertainment related streaming services for internet content distribution and product marketing.
The company believes the transaction will be the cornerstone of Authentic Heroes’ business model for building NFT streaming music and music packs, which will benefit not only Authentic Heroes and Maestro, but artists through a 501 foundation as well. (c) to create.
Chris Giordano, president and president of Global Fiber Technologies, said, âTaking classic recordings and turning them into collectable ‘NFT sets’ that include both NFT and remastered vinyl albums is how both parties are looking to. to put on the market a set of unique value for the collector. We promote this by giving collectors the provenance and immutability of our blockchain that will preserve their value and legitimate ownership.
Whether it’s for souvenir or resale, we believe our NFT blockchain and “auction site” will be another added value for the collector as well as a revenue generator for everything we create. NFTs, vinyl records, new recordings and our ârevivedâ Authentic Heroes clothing series will all have access to our soon-to-be-closed auction site.
Both parties have accepted the overall plan in principle and are working to close the deal potentially by the end of 2021 and create the greatest possible value for GFTX stakeholders.
The company is also exploring the possibility of releasing limited edition NFTs or NFT bundles for the 2021 Christmas holiday season, weather permitting the development of such a venue through discussions we are having with a company of media marketing for the creation and distribution of an infomercial. be used to market parts of the Maestro Catalog Joint Venture.
We look forward to keeping you posted as we finalize our collaboration with Maestro Entertainment. “
About Maestro Entertainment Corp:
Founded in 2003. Since 2003, the company has acquired the rights to over 16,000 master song recordings from the 40’s, 50’s, 60’s and 70’s by some of the music industry’s best-known bands and singers. The songs in the catalog cover many genres: country, rock, classical, blues, gospel, pop, reggae, jazz, etc. The company maintains a warehouse containing thousands of studio recordings of historic, original and unrestored artists in various formats from the 1940s to the 1970s. Maestro has maintained an electronic distribution agreement since 2003 with SONY / THE ORCHARD.
About Global Fiber Technologies, Inc .:
Global Fiber Technologies, Inc. is an ECO-technological holding company specializing in the “reuse” of textile fibers. The Company operates its business through three subsidiaries, Authentic Heroes Inc., ECOTEK360 and Fiber-chain LLC. The Company uses its patented technologies and proprietary trade secrets which will bring cutting edge attributes and value added properties to the textile and clothing industries. The Company will market its branded products in the B2B and B2C markets, which will include the corporate, hotel, hospital, military and e-commerce markets.
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