Investments in Blockchain Technology Projected to Increase

NEW YORK, February 14, 2018 /PRNewswire/ --

According to a recent report from International Data Corporation, worldwide spending on blockchain solutions was $945 million in 2017 and is expected to reach $2.1 billion in 2018. IDC estimated that the total spending in blockchain could reach $9.2 billion in 2021, with a compound annual growth rate of 81.2 percent during the 2016-2021 forecast period. The report also indicated that blockchain investment in the financial sector held the largest shares in the total spending, due to rapid adoption in the banking industry. Spending in the distribution and service sector was $510 million in 2018, driven by strong investment from the retail and professional services industries. Victory Square Technologies Inc. (OTC: VSQTF), Long Blockchain Corp (NASDAQ: LBCC), Net Element International Inc (NASDAQ: NETE), NXT-ID Inc (NASDAQ: NXTD), Pareteum Corp (NYSE: TEUM)

Stacey Soohoo, research manager, Customer Insights & Analysis, said: "2017 was the year of experimentation as enterprises realized both the benefits and challenges of blockchain. 2018 will be a crucial stage for enterprises as they make a huge leap from proof-of-concept projects to full blockchain deployments. As a leader in blockchain innovation and integration, the U.S. will continue to invest in blockchain throughout the forecast, spending heavily in financial services, manufacturing, and other industries. The U.S. will look to improve efficiencies in existing operations while promoting new applications in others, creating new streams of revenue and areas of spend. With increased investments driven by pressures to keep up with the accelerating pace in innovation, the world will continue to look to the U.S. for guidance as other regions forge ahead in their own blockchain projects and initiatives."

Victory Square Technologies Inc. (OTC: VSQTF) is also listed on the TSX Venture Exchange under the ticker symbol 'VST'. Today the company announced breaking news according to which it, "will acquire 100% percent of all issued and outstanding shares of V2 Games Inc. ("V2 Games"), an established mobile games studio, for $2,000,000 CAD in total consideration (the "Purchase Price").

"We are excited to announce the acquisition of V2 Games, a leading mobile games developer based in Vancouver, Canada," said Victory Square Chief Executive Officer Shafin Diamond Tejani. "Similar to our business of partnering with high quality entrepreneurs and management teams that drive long term shareholder value, V2's philosophy centers around supporting top tier teams in the gaming industry and unlocking their potential by providing them with seed capital and the necessary strategic expertise needed to scale their gaming ventures. As entrepreneurs ourselves, we are impressed with the V2 model, along with the depth of knowledge the management team brings to the $100B dollar gaming industry."

"Post acquisition, Victory Square will seamlessly integrate V2 into our fast growing portfolio of disruptive technology investments. Through a combination of management, legal, operational, and marketing expertise, we will assist the V2 management team in accelerating their business and positioning them as an emerging leader in the mobile games market."

V2 Games started as a game development and publishing studio, and was the first Canadian company to license the iconic PAC-MAN IP as a mobile game. The company has a rich operating history of licensing large IPs, including PAC-MAN, Hello Kitty, the NFL and the NBA. Fueled by its success in the mobile gaming market, V2 Games evolved as a company and began investing its returns into other companies within the gaming space. V2 Games' recent investments include Flow - an equity crowdfunding platform for games powered by Blockchain - and Shape Immersive - an AR Blockchain company that develops state of the art products that bridge the experience between the physical and virtual worlds.

"This acquisition not only allows us to maintain our core competency of identifying early investments in gaming assets, but firmly puts us ahead of schedule in our pursuit to be a key strategic investment hub that video game entrepreneurial teams continue to place their faith with in order to bring their creations to life," said Sam Chandola, CEO of V2 Games. "Through Victory Square Technologies' expertise in the public markets, we will now be able to offer top-tier opportunities in the $100 billion gaming market to retail investors, while also leveraging the strength of the public markets to unlock new financing opportunities for the gaming industry."

V2 Games' CEO, Sam Chandola, is also a recipient of many entrepreneurial awards, including the BC Business Top 30 under 30 award (2014), RBC Top 75 Canadian Immigrant (2015), and the TMX Next 150 (2017). With a keen eye on the future, he is also at the forefront of exploring exciting new opportunities in the world of gaming brought by new technologies such as Blockchain.

"Victory Square's Technologies' experience as an early evangelist of Blockchain will help support V2 Games' new and exciting initiatives to explore the intersection of Gaming and Blockchain," continued Sam Chandola. "V2 Games is one of the first traditional gaming companies that is investing heavily in Blockchain, and Victory Square Technologies is an ideal partner in that regard."

Long Blockchain Corp (NASDAQ: LBCC) announced earlier in January that it has entered into a letter-of-intent with Stater Blockchain Limited ("Stater"), a technology company focused on developing and deploying globally scalable blockchain technology solutions in the financial markets. Stater's wholly-owned subsidiary, Stater Global Markets, is a Financial Conduct Authority (FCA) regulated brokerage that facilitates market access across multiple instruments including spot FX, digital currency futures and contracts for difference (CFDs). Philip Thomas, Chief Executive Officer of Long Blockchain, commented, "We are excited to announce this potential milestone event for the Company. Stater has been making investments to build its cryptocurrency platform and blockchain solutions, and we look forward to combining our efforts in this transformational partnership. Our ultimate goal is to build a portfolio of investments that touch multiple points in the blockchain ecosystem and this transaction would be an important step in that direction."

Net Element International Inc (NASDAQ: NETE) launched its newest multi-channel payments platform, Netevia. Connecting and simplifying payments across sales channels through a single integration point, Netevia delivers end-to-end payment processing through easy-to-use APIs. This model complements Net Element's ability to perform in a multi-channel environment, including point-of-sale (POS), e-commerce, mobile devices and will enable the company to perform in blockchain technology solutions. Netevia will form part of the recently announced decentralized blockchain technology solutions that enable an unlimited number of value-added services ("VAS") to connect merchants and consumers via blockchain technology, while increasing economic efficiency of all transactions being made within the ecosystem.

NXT-ID Inc (NASDAQ: NXTD) on February 8th announced FlipTM, a new contactless payment device that will enable cryptocurrency holders to use the value of their currency to make purchases at millions of retail locations. The launch of the new device follows a December 2017 announcement by Fit Pay that it is expanding its platform to connect cryptocurrencies to the payment ecosystem. Leveraging the FitPay Payment PlatformTM, Flip will use value exchanged from cryptocurrency to make traditional payment transactions. The FitPay will begin taking pre-orders for Flip in February 2018 on a date to be announced.

Pareteum Corp (NYSE: TEUM) announced recently that its European operating subsidiary has been granted a UK patent (GB2541449) for a solution enabling highly secure, strong-authentication, which provides secure access and additional identity validation on Pareteum's Global Cloud Platform and other online services. The technology uses pre-shared secret key authentication between mobile devices and secure cloud services, such as Pareteum's Global Cloud Platform, and underscores Pareteum's commitment to best in class security in all services. Vic Bozzo, CEO of Pareteum commented, "We are pleased to have been awarded this patent, which is representative of our rapidly growing intellectual property portfolio. The mobile services and application market has to adopt a security first strategy as the world's data access becomes exclusively serviced through wireless connections."

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