Intention to Jointly Create Web 3.0
Tools
NEW
YORK, July 25, 2023 /PRNewswire/ -- SMX
(Security Matters) PLC (NASDAQ:SMX; SMXWW) today announced that it
has entered into a Sales Cooperation Agreement with Data Vault
Holdings, Inc., which acts in the area of Web 3.0 technologies,
crypto anchors and data software as a service,
pursuant to which each party on a non-exclusive basis will effect
introductions of potential clients to the other.
Pursuant to the agreement, any transaction between a party and
an introduced client shall entitle the introducing party to a
commission on income received in the transaction for 48 months.
In addition to entering into the Sales Cooperation Agreement,
the companies intend to collaborate to advance Data Vault's Web 3.0
strategies for data visualization, inventory tracking and
laboratory automation, using SMX's digital blockchain platform
enhanced with a physical marker.
"We believe that systems integration with SMX's blockchain
technology will enable our ability to track and trace data objects
within laboratory environments. Our ability to have invisible
marking for consumer product is expected to enhance Data Vault's
proprietary solutions. The patented technology stack we now have in
tandem with SMX's tracing and tracking technology would expand what
is currently possible with our platform. In conjunction with our
other Web 3.0 anchors that allow for greater specificity, security
and control, SMX's technology is expected to give us a technical
advantage. Data Vault's planned integration of SMX's blockchain
technology will allow our customers to deploy and direct digital
twin, tracing, anti-counterfeiting and data security initiatives
directly from our platform with a level of scalability that we
believe is truly novel," stated Nathaniel
Bradley, CEO of Data Vault Holdings.
SMX management stated, "We are excited with this cooperation
that we expect could lead to an increase in SMX's reach in finding
new clients for its services. We believe that this is yet another
milestone towards SMX's growth strategy."
About SMX
As global businesses face new and complex challenges relating to
carbon neutrality and meeting new governmental and regional
regulations and standards, SMX is able to offer players along
the value chain access to its marking, tracking, measuring and
digital platform technology to transition more successfully to a
low-carbon economy.
About Data Vault Holdings Inc.
Data Vault Holdings Inc. is a technology holding company that
provides a proprietary, cloud-based platform for the delivery of
branded data-backed web 3.0 tools. Data Vault Holdings Inc.
provides businesses with the tools to monetize data assets securely
over its Information Data ExchangeⓇ (IDE). The Data
Vault Holdings owns Donate Technologies, Inc., ADIO LLC, and
Datavault Inc. as wholly owned subsidiaries under one corporate
structure.
Forward-Looking Statements
The information in this press release includes "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include, but are not
limited to, statements regarding expectations, hopes, beliefs,
intentions or strategies regarding the future. In addition, any
statements that refer to projections, forecasts or other
characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. The words
"anticipate," "believe," "contemplate," "continue," "could,"
"estimate," "expect," "forecast," "intends," "may," "will,"
"might," "plan," "possible," "potential," "predict," "project,"
"should," "would" and similar expressions may identify
forward-looking statements, but the absence of these words does not
mean that a statement is not forward-looking. Forward-looking
statements in this press release may include, for example: matters
relating to the Company's fight against abusive and possibly
illegal trading tactics against the Company's stock; successful
launch and implementation of SMX's joint projects with
manufacturers and other supply chain participants of steel, rubber
and other materials; changes in SMX's strategy, future operations,
financial position, estimated revenues and losses, projected costs,
prospects and plans; SMX's ability to develop and launch new
products and services; SMX's ability to successfully and
efficiently integrate future expansion plans and opportunities;
SMX's ability to grow its business in a cost-effective manner;
SMX's product development timeline and estimated research and
development costs; the implementation, market acceptance and
success of SMX's business model; developments and projections
relating to SMX's competitors and industry; and SMX's approach and
goals with respect to technology. These forward-looking statements
are based on information available as of the date of this press
release, and current expectations, forecasts and assumptions, and
involve a number of judgments, risks and uncertainties.
Accordingly, forward-looking statements should not be relied upon
as representing views as of any subsequent date, and no obligation
is undertaken to update forward-looking statements to reflect
events or circumstances after the date they were made, whether as a
result of new information, future events or otherwise, except as
may be required under applicable securities laws. As a result of a
number of known and unknown risks and uncertainties, actual results
or performance may be materially different from those expressed or
implied by these forward-looking statements. Some factors that
could cause actual results to differ include: the ability to
maintain the listing of the Company's shares on Nasdaq; changes in
applicable laws or regulations; the effects of the COVID-19
pandemic on SMX's business; the ability to implement business
plans, forecasts, and other expectations, and identify and realize
additional opportunities; the risk of downturns and the possibility
of rapid change in the highly competitive industry in which SMX
operates; the risk that SMX and its current and future
collaborators are unable to successfully develop and commercialize
SMX's products or services, or experience significant delays in
doing so; the risk that the Company may never achieve or sustain
profitability; the risk that the Company will need to raise
additional capital to execute its business plan, which may not be
available on acceptable terms or at all; the risk that the Company
experiences difficulties in managing its growth and expanding
operations; the risk that third-party suppliers and manufacturers
are not able to fully and timely meet their obligations; the risk
that SMX is unable to secure or protect its intellectual property;
the possibility that SMX may be adversely affected by other
economic, business, and/or competitive factors; and other risks and
uncertainties described in SMX's filings from time to time with the
Securities and Exchange Commission.
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SOURCE SMX