ATLANTA, GA / ACCESSWIRE / November 8, 2021 / Seven Arts Entertainment Inc. (OTC PINK:SAPX), the “Company”, is pleased to provide the following update.
Seven Arts and its production team has named its upcoming feature film “Venus Effect”. The sci fi genre film has entered production under Director, Andrew Burn in conjunction with Seven Arts’ subsidiary Muse Media.
To accompany the film’s production, the Company has engaged a leading cryptocurrency expert trader, miner, and influencer to help mint various NFT’s for Venus Effect and future Seven Arts/Muse projects.
Initial NFT’s are expected to accompany graphic art in association with Venus Effect. Going forward Seven Arts anticipates utilizing NFT’s to encourage a full investor and audience engagement experience. Whereby some NFT’s will allow investors to shape film content or even offer cameos in Seven Arts projects.
According to the Company’s ivy league educated crypto consultant, that has previously worked under the late John McAfee and will be announced in upcoming releases, anticipates the initial NFT offering for Venus Effect will exceed $1 million in NFT revenue minted to Seven Arts’ balance sheet. Based on recent trends the current NFT market has been responsible for up to 15% of financing of feature films. The Company believes this is a trend that will continue and intends to leverage its entertainment portfolio to reduce overhead and maximize revenue with upcoming projects already in discussion.
Additionally, Venus Effect is moving ahead of schedule in early-stage production. The Company has narrowed down several known female leads and protagonists to join the cast. Several major streaming platforms have already expressed interest in picking up the film. The Company is very confident that a deal will be closed shortly.
Finally, in accordance with increasing shareholder value, the Company believes it has found a viable solution to effecting its previously disclosed outstanding share reduction efforts. Seven Arts is in the process of engaging a new Transfer Agent that the Company believes will be much more effective in executing the share reduction within the next four weeks.
Stated Seven Arts CEO, Jason Black: “I’m very pleased with the Company’s progress. While we appeared silent during the process of preparing our next quarterly filing to remain fully current, we have been aggressively working in the background to consider shareholder sentiment toward realistically incorporating the NFT model into our business strategy. We believe that what the Company has under development will generate $10 million plus in projected revenues for Seven Arts in the near term.”
This press release contains forward-looking statements. The words ‘believe,’ ‘may,’ ‘estimate,’ ‘continue,’ ‘anticipate,’ ‘intend,’ ‘should,’ ‘plan,’ ‘could,’ ‘target,’ ‘potential,’ ‘is likely,’ ‘will,’ ‘expect’ and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE: Seven Arts Entertainment, Inc.