7111 BIGG Digital Assets Inc

BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), a leading innovator in the digital assets space and owner of Netcoins, Blockchain Intelligence Group and TerraZero is pleased to report its Q1 2024 financial results. All figures are in Canadian Dollars (CAD) unless otherwise noted.

Q1 2024 Highlights:

• Gross operating revenue of $3.7M, comprising $3.11M for Netcoins, $0.36M for Blockchain Intelligence Group and $0.23M for TerraZero
  • Netcoins revenue was $3.11M (2023 - $1.1M). Transaction revenue was $3.07M, increasing 179% Year-over-Year (YoY) and increasing 72% Quarter-over-Quarter (QoQ) from Q4 2023. Customer At March 31, 2024, customers’ staked Assets under Custody totalled $3.6M (2023 - $Nil), resulting in service revenue of $0.04M (2023 - $Nil);
  • $0.36M (2023 - $0.41M) for Blockchain Intelligence Group, down 12% YoY and down 5% QoQ;
  • $0.23M (2023 - $Nil) for TerraZero.
• Netcoins customer Assets Under Custody was $134.5M at the end of Q1 2024, up $47M or 54% from the same period of the prior year
• Netcoins’ active users totalled 12,699, a 47% increase from the prior quarter and 51% increase from the same period of the prior year
• Netcoins USA, operational in 18 U.S. states, has partnered with Zero Hash, a global leading crypto infrastructure provider, to unlock crypto trading in 48 U.S. states. Netcoins USA can offer up to 60 digital assets and have access to up to 29 fiat currencies for its clients
• Blockchain Intelligence Group partnered with a State Bureau of Investigations and an overseas National Police Agency, both will use QLUE to enhance their digital forensic capabilities, streamline investigations and resolve cryptocurrency-related cases quickly and affordably
• Blockchain Intelligence Group added support for the Polygon Matic Blockchain, cross-bridge transactions which are being used more and more by illicit actors, updated our services to meet the Canadian Federal Government’s language and Accessibility requirements, and added investigative graphing enhancements
• TerraZero entered into partnerships with:
  • Napster, the original music disruptor and longest running independent music streaming service in the world, to offer immersive virtual hangouts to artists on the platform, marking a transformative leap in the way that fans and artists can connect on a Music DSP; and
  • Finliti, a wealth management software company that uses behavioural science to optimize investment decision making for brokerages and their clients
• BIGG completed an upsized LIFE private placement offering, issuing 33,333,333 units priced at $0.24 per unit raising gross proceeds of $8M
• As of March 31, 2024, BIGG’s cash and crypto holdings were ~$26.5M
• The Company has no debt

Highlights After March 31, 2024:

• BIGG currently owns ~94 Bitcoin, valued at $8.1M
• Netcoins currently has customer Assets Under Custody of ~$128.3M (an increase of 47% over Q4 2023 and a decrease of 5% from Q1 2024)
• Netcoins launched Staking services for Solana (SOL) & Cosmos (ATOM). With Ethereum (ETH), which was launched in mid-2023, this increases the current staking offerings to 3 coins with further coins slated to be added
• Netcoins added 3 new coins this week and now offers 49 crypto assets. The Netcoins community will help select the 50th coin to be added in June
• Netcoins continues to advance its registration process with Canadian securities regulators and the Canadian Investment Regulatory Organization (CIRO), with its mid-May application submission to become an investment dealer and dealer member of CIRO
• TerraZero, with Napster, embarked on the second phase of its groundbreaking artist metaverse experiences with an exclusive Q&A and artist chat in a virtual hangout with multi-talented Chicago artist Ric Wilson, held on May 16, 2024. Exclusive to Napster subscribers, participants were able to stream limited access music, purchase select merchandise and engage directly with the artist
• Blockchain Intelligence Group is continuing to add more cross-chain support, introducing more demixing capabilities to trace funds through mixers, introducing significant capabilities and improvements in our investigative graph and is working to support additional blockchains and deliver powerful investigative functionality

Selected financial and operating information should be read in conjunction with BIGG's unaudited condensed consolidated interim financial statements and related Management's Discussion and Analysis for the three months ended March 31, 2024, available at www.sedarplus.ca.All financial information in this press release is prepared in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board.

On behalf of the Board

Dan Reitzik

Interim CEOir@biggdigitalassets.com

About BIGG Digital Assets Inc. BIGG Digital Assets Inc. (BIGG) believes in a blockchain future - investing in products and companies to support this vision. Crypto, Web3 and tokenization are leading innovations in the digital transformation of the internet. BIGG has three portfolio companies: Netcoins (netcoins.com), Blockchain Intelligence Group (blockchaingroup.io), and TerraZero (terrazero.com).

Blockchain Intelligence Group is an industry leading digital asset forensics, anti-money laundering detection, and cryptocurrency investigations company. At the heart of our operations is a deep-rooted expertise in visualizing digital assets and market related activities. This expertise is leveraged to monitor transactional data with a constant eye to assisting our customers with risk management, due diligence, and forensic services for digital assets. 

Netcoins offers safe and secure crypto trading in Canada and the USA, with a mission to make cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins has a robust product offering with Crypto Trading (US and CA), Netcoins Pay (CA) and Netcoins Staking (CA). Netcoins utilizes BitRank Verified® software at the heart of its platform and facilitates crypto trading via its cutting-edge Mobile and Web applications. For more information please visit our website www.netcoins.com.

TerraZero Technologies Inc. is a vertically integrated Metaverse development group and leading Web3 technology company specializing in helping brands create immersive experiences. TerraZero’s Metaverse-agnostic vision is to develop and implement products and services with scalable commercial applications to flourish engagement across gamified experiences where enterprise-level businesses, metaverse platforms, and Web3 creators can seamlessly bridge and actionably grow their virtual world and the physical world endeavors together as one. TerraZero owns digital real estate for brands to establish presence in existing virtual worlds and can also offer brands their own private worlds to provide offices and services to those interested in the metaverse. Furthermore, TerraZero acquires, designs, builds, and operates virtual assets and solutions to monetize the metaverse ecosystem. TerraZero’s businesses are segmented into five (5) divisions which include: (1) immersive experience creation in existing or private virtual worlds; (2) advertising; (3) data analytics; (4) events and marketing; and (5) development of the Intraverse. TerraZero aims to support the community, foster innovation, and drive adoption. For more information, please visit https://terrazero.com/ or contact hello@terrazero.com.

For more information and to register for BIGG’s mailing list, please visit our website at https://www.biggdigitalassets.com. Or visit SEDAR+ at www.sedarplus.ca.

Future operating results could also be materially affected by the price of cryptocurrency and the demand (or lack thereof) for cryptocurrency. In addition, BIGG’s past financial performance may not be a reliable indicator of future performance.

Forward-Looking Statements:

Certain statements in this release are forward-looking statements, which include the expected opportunities, outcomes, potential and benefits of the Company’s products and services, the expected adoption and growth of cryptocurrency and the Company’s products and services, the development and completion of products and services, the launch of products and services and the expected timelines, events, plans, courses of action, and the potential of the Company’s technology and operations and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, the ability to manage operating expenses, which may adversely affect the Company’s financial condition, the ability to remain competitive as other better financed competitors develop and release competitive products, volatility in the trading price of the common shares of the Company, the demand and pricing of cryptocurrency, the Company’s ability to successfully define, design and release new products in a timely manner that meet customers' needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. The securities of BIGG are considered highly speculative due to the nature of BIGG’s business. For further information concerning these and other risks and uncertainties, refer to the Company’s website and filings on www.sedarplus.ca. In addition, BIGG’s past financial performance may not be a reliable indicator of future performance.

Important factors that could cause actual results to differ materially from BIGG’s expectations include consumer sentiment towards BIGG’s products and Cryptocurrency and Blockchain technology generally, technology failures, the lack of demand for the company’s products and services, fluctuations in the price of cryptocurrency, the ability to successfully define, design, and release new products in a timely manner that meet customers’ needs; the ability to attract, retain, and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel; competition; the demand and pricing of cryptocurrencies and NFTs (including digital assets); litigation; security threats, including a loss/theft of NFTs, cryptocurrencies, and other assets; and failure of counterparties to perform their contractual obligations.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

The CSE does not accept responsibility for the adequacy or accuracy of the content of this Press Release.