Launch of new 'DOSE' Token and 'Dustland Runner' Game
DOSE is an ERC-20-compatabile fungible token of purchase, utility and action and will form the central in-game currency of OliveX's gamified fitness metaverse. DOSE will have a fixed supply of 5 billion tokens.
Prior to the IEO, OliveX is targeting up to US$2,000,000 at US$0.015 per DOSE token via a private round to attract strategic holders (Strategic Round). The Strategic Round has received commitments for a total of US$1,700,000 so far, including from its major shareholder, Animoca Brands, as well as Yield Guild, The Sandbox, The Spartan Group, Primo and Skyvision Capital.
Under the IEO, OliveX is targeting up to US$500,000 at US$0.03 per DOSE token, which will launch on or about 19 October 2021.
OliveX's portfolio of applications, including 22 Push Ups and KARA Smart, will utilise the DOSE token to reward users for their fitness activity.
Keith Rumjahn, CEO, commented: "We're continuing to innovate by connecting our products, games and services with the new DOSE token to grow and motivate our community of health and fitness fans who love the 'play-to-reward' concept.
"We all know that we feel better once we've exercised or played a game, so DOSE is an acronym for the chemicals we release when we exert ourselves and that make us feel good:
Dopamine, Oxytocin, Serotonin and Endorphin.
"It's our mission to help people embrace health and fitness and feel good about measuring their progress."
Please note, however, there is no guarantee that the Strategic Round or the IEO will complete or otherwise be successful, and their progress will be subject to applicable laws.
OliveX also intends to create and launch a new audio fitness game called Dustland Runner.
In Dustland Runner, performing runs or completing workout-based gameplay in the real world progresses the narrative and earns virtual rewards, including DOSE tokens. The rewards and tokens can be used to upgrade and progress the adventure, unlock items and participate in special events and game modes.
Dustland Runner will leverage learnings and technologies from Zombies, Run!(TM) - OliveX's premier gamified health and fitness app, with 50,000 paid subscribers and an average of 300,000 monthly active users.
OLIVEX DEAL MOMENTUM
Over the past 12 months, OliveX has made key strategic acquisitions and signed significant partnerships to help achieve its ambitions, including the following:
- Acquisition of Six To Start, the specialist developer and content creator of game-like stories, including Zombies, Run!TM.
- Acquisition of the Volution enterprise technology platform, which assists gym networks and personal fitness trainers attract, engage, retain, and monetise gym memberships.
- OliveX Volution's partnership with the world-renowned Les Mills health and fitness brand, to stream group exercise content to transform corporate employee fitness and wellbeing.
- OliveX Volution's participation in the Global Vendor Program for the iconic Gold's Gym network of over 700 studios across six continents with three million members.
- Collaboration with Hong Kong Premier League side, Resources Capital Football Club, to launch the first range of NFT collectibles for an Asian football club.
Further, OliveX has continued to progress its proposed cross listing on the Canadian Securities Exchange, and it will keep the market informed of material developments.
About OliveX Holdings Limited
OliveX (NSX:OLX) is a digital health and fitness company selling innovative products and applications to deliver a unique user experience using artificial intelligence, gamification and premium content. With its flagship product the KARA Smart Fitness Mirror and associated subscription-based applications, OliveX provides a platform that links and engages consumers with brands, influencers and fitness coaches and that enables any space to become a personal fitness studio. OliveX has a market reach that spans over 170 countries.
OliveX Holdings Limited