CRYPTO BLOCKCHAIN INDUSTRIES announces that it has entered into a series of strategic partnership agreements with Chain Games, a publisher of skill-based games (games in which players can pay entry fees to compete against other users for prizes based on their own performance) and play-to-earn games (games in which a portion of the revenue is allocated among players according to their respective levels) all on the blockchain. The agreements include several stages, the initial being the creation of virtual universes dedicated to these games and the development of content in AlphaVerse, with a license fee of $2 million to be paid to CBI; a consulting agreement aimed at business development in the field of blockchain, whereby Chain Games will receive 1.5 million CBI shares; and various terms allowing CBI to acquire a minority equity stake in Chain Games by December 31, 2022. The initial stage contemplated by these agreements is the development of Skill-Based and Play-to-Earn universes, games and content in AlphaVerse.

Under the terms of the agreements, Chain Games will acquire a virtual space in the AlphaVerse hub. CBI has received a license fee of $2 million, paid in Chain Games tokens. This virtual space (Arena) is located in the Hub, the central point of AlphaVerse, and is accessible to all participants and gamers.

This Arena will be mainly dedicated to skill-based and play-to-earn games and NFTs from Chain Games' catalogue. Chain Games will also develop its own universe dedicated to larger skill-based and play-to-earn games. This universe will be linked to the central AlphaVerse hub and will include Chain Games proprietary content and licensed NFTs.

In these virtual universes, revenues will be shared between CBI and Chain Games based upon a formula established by the parties which accounts for the origins of the players. For the second stage of this venture, the parties have established a consulting arrangement focused on business development. Chain Games will provide consulting to CBI which intends to rely on Chain Games' expertise and network to foster the development of its blockchain ecosystem.

The 5-year action plan contemplates the identification and organization of meetings with potential partners, in particular: development studios, marketing specialists, and the creation of strategic alliances. For this consulting contract, Chain Games will be paid by receiving 1.5 million CBI shares and CRYSTAL tokens, the cryptocurrency of AlphaVerse. For the final stage of this partnership, CBI has been granted the option to acquire up to 2.5% of the share capital of Chain Games, based on a valuation of Chain Games to be defined, which will remain in place until December 31, 2022.

The agreements between the parties also provide for different scenarios that may give rise to greater acquisition capacity using a similar formula and valuation which is intended to remain in place until December 31, 2022, within the strict limits set by the contracts and depending on CBI's available resources.