VANCOUVER, British Columbia and BOULDER, Colo. (September 6, 2019) — Cryptanite Blockchain Technologies Corp. (CSE: NITE) (OTCQB: CRBTF) (FRA: 98AA), a Vancouver, Canada blockchain technology company, today announced the launch of “BitDropGo”, in the Google Play Market. BitDropGo is an augmented reality (AR) gaming app which allows users to play AR games and collect digital asset rewards, and allows businesses to promote their brands in an engaging and immersive gaming environment.
The AR advertising business model can be a game changer for the industry because of its potential to offer an enhanced customer experience. The model has become increasingly popular as a way to make ads engaging and interactive and to create positive brand awareness, giving advertisers an advantage over traditional digital ads. Although the potential of AR for businesses is yet to be fully realized, Fortune 500 companies like Coca Cola and Burger King, have already adopted AR technology and BitDropGo is positioned to monetize this business model as more companies are expected to follow suit.
According to market studies, the global augmented and virtual reality market is predicted to reach more than $800 billion USD by 2025 with a 60% CAGR. This projection is based on the growth in mobile devices and increasing commercial adoption of AR and VR.
Co-founder and CEO John Eagleton explained: “People are currently hesitant to invest in cryptocurrencies because of concerns of volatility, value and security, but BitDropGo makes it easy for the billions of smartphone users around the world to securely access and use digital assets.”
The product will be featured at several high profile blockchain events, with a focus on emerging markets, starting with the CryptoFest 2019 conference in Cape Town, South Africa on Saturday September 7, 2019.
Currently available in select emerging market countries, the App will soon be available to the rest of the world.
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the word “will” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.