Nitches Corporate Update Regarding Metaverse

Nitches Corporate Update regarding Metaverse

LAS VEGAS, Nov. 25, 2022

LAS VEGAS, Nov. 25, 2022 /PRNewswire/ -- Nitches Inc., (NICH) (the "Company") which blends high-tech with high-end fashion to create exclusive clothing lines with authenticity verified by an NFT QR code, today announces the closing of its Metaverse Initiatives. 

"In regards to our Metaverse venture, with current market situation, the cost of developing a full on metaverse is cost prohibitive. With the recent news from Meta/Facebook spending and losing billions on developing a metaverse  (https://www.cbsnews.com/amp/news/meta-stock-down-earnings-700-billion-in-lost-value/#app)with no real way of knowing how it will be monetized, the Company has bowed out of the Metaverse project.  We will let others  lead the way into the metaverse and focus on selling our merchandise here in this universe at this time, and when they create the need to verify the purchase of real world goods in the worlds they create, Nitches will be there with our Nitches, Inc. Ownership Verification System like the folks who sold shovels during the gold rush. The company will continue  to assist and launch the POM NFT collection on behalf of the project owner, John Lewis and we are very close to being ready to Mint that project," said CEO John Morgan. Mr. Morgan also went on to say, “The Company is also in negotiations and discussions with a new and established brand of interesting Merchandise in a very attractive sector that we will be updating shareholders on in the near future.”

Anthony Piper, Nitches’ creative director, who was spearheading those initiatives will focus that energy on promotion and sales of our Capsule Collections.  He says, “Nitches Capsule Collections coupled with the Order Verification System doesn’t just verify the authenticity of the product but validates when the owner was in on the trend - we verify vintage!”

IR contact:

John Morgan

6789996242

About Nitches Corporation

Nitches is a diversified technology and exclusive clothing company that blends high-tech with high-end fashion to design luxury clothing items and NFTs. We specialize in creating limited-edition athleisure and streetwear apparel and accessories that are sustainable, authentic and exclusive. We collaborate with fashion-forward influencers and celebrities to create capsule collections that reflect their vision and brand. We develop innovative technology to protect their intellectual property by preventing counterfeiting. Nitches strives for creativity, excellence and value in all that we do for our collaborators, customers and stakeholders.

Forward Looking Statements: 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. Factors or events that could cause our actual results to differ may emerge, 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 Nitches Inc.