San Diego, CA, May 17, 2022 (GLOBE NEWSWIRE) — HUMBL, Inc. (OTCQB:HMBL) announced today that CEO, Brian Foote has contributed 100 million BLOCKS to the HUMBL balance sheet for use in blockchain pilot programs, employee compensation and more.
“As we enter the Web 3, tokenized economy, it will be important for customers to begin separating out the differences in blockchain-based digital assets,” said Brian Foote, CEO of HUMBL. “We believe that hybrid blockchain tokens like BLOCKS, virtual currencies like Bitcoin, stablecoins like USDC and central bank digital currencies, like the Digital Yuan will all play different roles in Web 3 wallets and web platforms.”
BLOCKS were created as hybrid Web 3 tokens that can accommodate a variety of blockchain use cases and tokenized pilot tests, ranging from mobile wallets, verifiable credentials, NFT verification, DAO management and more.
“As has been reported in the financial media, the new generation of tech employees are also increasingly asking to be paid in decentralized digital assets, such as Bitcoin,” continued Foote. “This is no different at HUMBL, where some of our younger employees are requesting that a portion of their compensation be paid in BLOCKS.”
BLOCKS will be recorded as an asset on the HUMBL balance sheet, with an approximate fiat currency value of $700,000 (USD) as of 6:00 AM PST on May 16, 2022.
HUMBL is a Web3, consumer blockchain platform with consumer and commercial divisions.
BLOCKS are hybrid, decentralized Web 3 blockchain tokens that are used both for blockchain governance and voting, as well as blockchain use cases such as mobile wallets, verifiable credentials, NFT verification and more.
BLOCKS DAO is one of the first legally registered DAO’s in the United States, headquartered and founded in Wyoming. DAO’s are decentralized, autonomous organizations that are typically self-governed and managed by token holders through blockchain-based voting.
Safe Harbor Statement
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