SOMERVILLE, N.J., Jan. 28, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Global Fiber Technologies, Inc., (OTC PINK: GFTX) subsidiary Authentic Heroes, Inc., has entered into a definitive agreement with Maestro Entertainment, LLC., to create music driven opportunities.
Global’s President Chris Giordano stated, “Our joint venture with Maestro Entertainment is a watershed deal for both sides. The Maestro catalog consists of over 17,000 songs from the 40’s 50’s, 60’s, 70’s & 80’s across the entire genre of music. They include spectrum of artists, many of them whom are Grammy Award winners ranging from Bob Marley, The Jackson 5, Jefferson Airplane to BB King.
We will marry this massive library of “legacy music” with our ability to market and distribute the music compilations into brick and mortar stores including “Mass Merchandisers”, “Hypermarkets” and “Big Box Stores”. We will do this through a joint venture we are developing with a large “Direct Response” marketing partner which has a footprint of over 100,000 stores, and 5 million active retail customers as part of their customer base. We expect to finalize terms of the joint venture in the coming weeks and then start the march in developing “planograms” with the brick and mortar stores for of what could be our first delivery schedules later this year.
Demand for Vinyl Records is outpacing the supply available in the distribution system. We strongly feel we are in the right place at the right time. Vinyl record collecting is becoming non-generational. From Gen Z through Baby-Boomers Vinyl is in very high demand and we expect that trend to remain intact for years to come.
Our Entry into the Digital World
Another area and large opportunity utilizing the Maestro catalogue is to design and mint individualized music NFTs and pair them with a Limited Edition Vinyl Records. In some cases, offer a “bundle” that could also include an Authentic Heroes “Made from the Original” collectible. These are articles of clothing that were “stage worn” or “session worn” items. Utilizing our patented technology, the original item morphs into a multiplicity of authenticated, registered on our blockchain collectible.
We are now augmenting our NFT design with a CSE Award winning company from the VR world and the NFTs we create will now be show stoppers judging from the work we have seen by them to date. Our NFTs will be driven by AI “artificial intelligence” and include music tracks, AI driven art form and content such as the “original contract” between the studio and the artist.
Some of the components necessary to have a successful NFT is to have a real point of distinction, scarcity and ultimately a solid “whitelist” of potential NFT buyers. We will start the march shortly in developing our whitelist utilizing Crypto PR https://cryptopr.com/ for our outreach into both the Twitter and Discord communities.
Once we have established a baseline whitelist community we would look to announce our first NFT drop which could include a music NFT matched with a vinyl record and a stage worn collectible creating the ultimate collectors bundle
We look forward to keeping our shareholders apprised of our progress with Maestro Entertainment and look to our next communication.