Corporate Update

RNS Number : 1539O

Online Blockchain PLC

30 January 2023

 

For immediate release

 30 January 2023

Online Blockchain PLC

("Online" or the "Company")

Corporate Update

The Board of Online Blockchain plc (LSE: OBC) announces the planned launch of a new non-fungible token ("NFT") project based on The Rocky Horror Show. Online has entered into a worldwide licence with Interfishnet Limited, rights holders of The Rocky Horror Show intellectual property, to create and market a range of character NFTs.

Non-fungible tokens (NFTs) are cryptographic assets on a blockchain, with unique identification codes and metadata that distinguish them from each other and are directly linked to one blockchain address. Non-fungible tokens comprise a smart contract which can digitally represent any asset, including online-only assets like digital artwork and collectibles.

Online's developers have created a number of collectible character-based NFTs from The Rocky Horror Show and, under the terms of the licence agreement (for an unlimited period), Online will receive a revenue share from sales of the NFTs. The Company plans to launch the marketing of The Rock Horror Show NFTs shortly. Shareholders should note that the commercial development of The Rocky Horror Show NFTs is at an early stage and there is no certainty at this time how it may develop or to what extent any income will be derived.

Clem Chambers, CEO of Online, said: "we believe that The Rocky Horror Show has significant potential for NFTs and we look forward to working with Interfishnet. This year is the 50th Anniversary of the first performance of The Rocky Horror Show and we are delighted with the prospect of bringing these NFTs to market at this time."

A copy of this announcement is available on the Company's website at: www.onlineblockchain.io .

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person who arranged for the release of this announcement on behalf of the Company was Clement Chambers, Director.

Enquiries:

For further information please contact: 

Online Blockchain PLC Clement Chambers	[phone]
Beaumont Cornish Limited (Nominated Adviser) www.beaumontcornish.com	[phone]
Roland Cornish/Michael Cornish
Throgmorton Street Capital  (Joint Broker)	[phone]
Monecor (London) Ltd (Joint Broker) E lliot Hance	[phone]
Cassiopeia Ltd (Investor Relations) Stefania Barbaglio	[e-mail]

 

About Online Blockchain plc (LSE: OBC)

Online ( www.onlineblockchain.io ) is a UK-based incubator and developer of businesses in internet and information-based technologies, including developers, administrators and custodians of blockchains and cryptocurrencies. The Company created ADVFN www.advfn.com and has a holding of 11.51% in ADVFN plc. 

 

Online  continues to consider new related opportunities and particularly crypto currencies and blockchain-based opportunities including incubating cryptocurrency start-ups and developing technical innovation in the blockchain space.

 

Glossary

 

"blockchain" is a distributed public digital ledger in which transactions are recorded chronologically

"cryptocurrency" is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of any central bank

 

ENDS

 

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