Tapinator, Inc. (OTC: TAPM) (“Tapinator,” the “Company,” “we,” “our” or “us”), a developer and publisher of category leading games for mobile platforms, is pleased to announce that it has released the NFT500 mobile app on the iOS App Store. NFT500 is a free NFT casting platform, initially focused on blue chip NFTs via the Company’s own NFT500 Museum Collection. The term “casting” refers to displaying digital art, in the form of NFTs, on a physical display. Consumers may download the app on iOS here or learn more at nft500.com. With NFT500, consumers can browse hundreds of iconic NFT artworks, add artworks to their virtual collection and cast NFTs to their SmartTV. NFT500 is the first and only “NFT Art Museum in your pocket.”
NFT500 was built to provide value to both consumers and artists alike. For consumers, the product provides an easy onramp to the world of digital art and NFTs with no crypto knowledge, technical expertise, or investment required to get started. The product provides consumers with their very own digital museum and provides access to legendary NFT artists directly from their mobile device. Consumers can have fun curating their own virtual collection of artworks straight from the NFT Museum Vault and, with the push of a button, cast their favorite artworks to their SmartTV at home. NFTs are cast in their highest available quality, often in 4K.
For artists, NFT500 has become an active collector, supporting artists globally and collecting across leading NFT genres and platforms. Our museum collection, which expands almost daily, now consists of over 250 works from some of the most prominent NFT artists including Bored Ape Yacht Club, Damien Hirst, Helena Sarin, Gisele Flores, Kevin Abosch, Alejandro Cartagena and XCopy. By providing consumers with free public access to the NFT500 Museum and enabling these works to be cast via our mobile app, we seek to significantly enhance discovery and broaden the universe of those exposed to NFT art well beyond the relatively small number of crypto natives that exist today. We seek to lead the way in getting NFT artists into people’s living rooms. As we build an audience of future collectors through exposure to the NFT500 museum, we plan to collaborate with artists on future drops to this audience on a fully negotiated and commercial basis.
Ilya Nikolayev, CEO of Tapinator, commented, “When we look out several years, we envision consumers with screens in their homes displaying NFT-based digital art. We expect that a substantial majority of these consumers will choose not to spend tens or hundreds of thousands of dollars on NFT collections, but rather will utilize the NFT500 mobile app to cast works from our collection onto their wall. In the span of just eight months, our team has managed to build an excellent NFT Museum Collection and a first of its kind, mobile casting application and technology platform. I am incredibly proud of our efforts to deliver version 1.0 but we believe this is just the beginning. We are currently in development on new features and plan to release regular product updates, including an Android app that is in the works. The Museum Collection is the first of many and we will seek to partner with leading artists to bring exclusive collections to the NFT500. Our initial focus is accessibility and discovery, virtual collecting and casting. If this phase is successful, we plan to introduce ownership for specific NFTs.”
Andrew Merkatz, President of Tapinator, also commented, “We are extremely proud of the recent app launch as well as the value that we believe we have created for shareholders this year through the development of the NFT500 platform. We plan to commence marketing of the app immediately, and we look forward to continuing to build both the technology platform and the NFT500 Museum Collection. Market demand for NFTs has surged this year, with NFT trade volume in the third quarter of 2021 reaching $10.67 billion, up 704% from the previous quarter according to CNBC. This growth is leading more creators, consumers and brands to seek opportunities within this quickly evolving market. Recent announcements by companies such as Coinbase and Facebook expressing their intent to enter the NFT market further validate Tapinator’s early attempts to establish leadership within this exciting new asset class beginning as far back as early 2018. After additional regulatory research, we have decided at this time not to pursue the issuance of any digital token through NFT500. We believe ownership in Tapinator common stock provides a more straightforward and cost-effective method for investors to participate in any potential capital appreciation from the NFT500 Museum Collection, although we cannot guarantee that any future appreciation will occur.
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