Media Central Corp Announces Sale of New NFT

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TORONTO, Sep 27, 2021 (GLOBE NEWSWIRE) – Media Central Corporation, Inc. (CSE: FLYY; FSE: 3AT) (“Media Central” or the “Company” or “we” or “we”) announced today ‘ hui that she sells NFTs of nine iconic magazine covers published by Magazine NOW and the Georgia Straight as collectibles featuring Grimes, Drake, Seth Rogan and other Canadian artists who have defined the vibrant arts and entertainment history of Vancouver and Toronto.

The sale of NFT is aligned with Media Central’s strategy to develop new digital revenue models in order to diversify its revenue sources and enhance the quality of its information products. Media Central previously announced that it introduced similar strategic innovations by entering into a deal with an arts and entertainment news aggregator. www.creatornews.com and the soon to be launched CreatorStack paid blogging platform.

According to cnet.com, the exuberant interest in NFTs has created a digital market that generated more than $ 250 million in sales in 2020. NFT is an acronym for “Non-fungible Tokens.” NFTs are a new type of investment backed by the authenticity created by blockchain for digital assets such as a work of art. NFTs are an extension of the investments consumers have historically made in collectibles such as Baseball Trading Cards, Beanie Babies, and Pokemon Cards. Buyers who buy Magazine NOW Where Georgia Straight NFTs will have a registration and hashtag code showing a unique token associated with their purchase. Buyers can resell the token based on its market-based appreciation. Media Central retains ownership of the magazine covers through its copyright license of all content published in its two signature publications.

“The investment value and appreciation of NFTs have become better understood over time. As we follow the rapid evolution of media, it is evident that crypto as a currency and blockchain as a secure place to record and store transactions will play a role in the future of media and buying habits. of consumers, ”said Emmanuel Manos Pavlakis. , Chairman of the Board of Directors of Media Central. “The generational popularity of Georgia Straight and Magazine NOW spanning nearly 100 years and displayed at rarible.com/georgiastraight and rarible.com/now is our first attempt to capitalize on the opportunity that NFTs provide for diversified revenue growth.

Media Central’s NFTs are sold using Ethereum cryptocurrency stored in a “digital wallet” which can be found at metamask.io. Purchases are made in an auction environment. There is no opening bid and Media Central determines whether or not to accept bids as they are placed.

Blockchain innovation eliminates “auction house” practices, human valuation and designer biases, as well as the costs associated with paying an “middleman” when valuing paintings, sculptures, photographs , animations, audio.

Ironically, it was Christie’s who auctioned Beeple’s EVERYDAYS: THE FIRST 5000 DAYS for $ 69.3 million as the first NFT sale recorded in early 2020. Mike Winkelmann, aka Beeple, talks about how NFTs became the latest digital innovation.

“We are under no illusions that future NFT sales to us will be like winning the lottery,” said Kirk MacDonald, president of Media Central Corporation Holdings. “That said, we are confident that we have new digital assets that will appeal to NFT buyers and allow them to own a slice of history in our communities.”

About Media Central Corporation Inc.
Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT) is an alternative media company set to acquire and develop high quality publishing assets starting with the recent acquisition of Vancouver Free Press Corp., the purchase of NOW Communications Inc. and the launch of the CannCentral.com digital cannabis platform and ESports ECentralSports.com point of sale.
www.mediacentralcorp.com
Instagram: @mediacentralcorp
Twitter: @mediacentralc
Facebook: Media Central Corp.

About Vancouver Free Press Corp.,
Vancouver Free Press Corp. owns and operates Georgia Straight and straight.com. Established in 1967 as Vancouver’s news, lifestyle and entertainment weekly, the Georgia Straight has been an integral part of the active urban west coast lifestyle for over 50 years. The print edition of The Straight is published weekly on Thursdays and daily online at www.straightc.om The Georgia Straight features an award-winning editorial collection of features, articles and reviews. Regular coverage includes news, tech, arts, music, fashion, travel, health, cannabis and food, plus Vancouver’s most comprehensive listings of entertainment and special events. . Vancouver Free Press Corp. is a wholly owned subsidiary of Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT).
www.straight.com
Instagram: @georgiastraight
Twitter: @georgiastraight
Facebook: @georgiastraight

About NOW Central Communications Inc.
NOW Central owns and operates NOW Magazine and nowtoronto.com. Since 1981, NOW has been the voice of Toronto news and entertainment, published in the press every Thursday and daily on nowtoronto.com. NOW has been a leading, defining and pioneering independent and alternative voice publication for over 38 years. NOW Central Communications Inc. is a wholly owned subsidiary of Media Central Corporation Inc. (CSE: FLYY, FSE: 3AT).
www.nowtoronto.com
Instagram: @nowtoronto
Twitter: @nowtoronto
Facebook: facebook.com/nowmagazine

The CSE has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this press release constitutes forward-looking statements under applicable securities laws. All statements contained in this press release that are not statements of historical fact can be considered as forward-looking statements. Forward-looking statements are often identified by words such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms. and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, statements regarding internal expectations and expectations regarding the direction of the new media platform and its content. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory changes involving; the inability to access sufficient capital from internal and external sources, and / or the inability to access sufficient capital on favorable terms; the media industry in general, income tax and regulatory matters; the ability of Media Central and the creative companies to execute their respective business strategies; competetion; currency and interest rate fluctuations and other risks.

Readers are cautioned that the foregoing list is not exhaustive and that they should carefully consider the various risks and uncertainties identified in the documents filed by the Company on SEDAR. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will be achieved. This information, although considered reasonable by management at the time of its preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements included in this press release are made as of the date of this press release and the Company does not undertake to publicly update these forward-looking statements to reflect new information, subsequent events or otherwise, unless applicable securities do not require it. laws.

The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE: Media Central Corporation Inc.

www.mediacentralcorp.com

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