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.
About HUMBL
HUMBL is a Web3, consumer blockchain platform with consumer and commercial divisions.
About BLOCKS
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
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimates,” “projects,” “intends,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company’s ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company’s control.
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