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U.S. Global Investors Announces Strategic Investment in NFT Business via Network Entertainment
San Antonio, TX, Oct. 27, 2021 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (Nasdaq: GROW) (the “Company”), a registered investment advisory firm that
About this update from U.s. Global Investors, Inc.
[{"type":"text","content":"San Antonio, TX, Oct. 27, 2021 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (Nasdaq: GROW) (the “Company”), a registered investment advisory firm that focuses on specialized markets around the world, is pleased to announce that it has purchased 1 million shares of Network Entertainment, Inc. (“Network”) in its recent financing. The investment is intended to provide exposure to Network’s emerging non-fungible token (NFT) business, adding to the Company’s established participation in the digital asset ecosystem. Trading as Network Media Group, Inc. (TSX.V: NTE.V) (OTCMKTS: NETWF), Network Entertainment is an award-winning media production company that has produced dozens of feature documentaries, documentary series and related premium content. Among Network's most popular programming includes its highly-rated “I Am” slate of feature documentaries for Paramount, which have spotlighted some of the biggest names in entertainment, sports and activism from the 20th century, including Bruce Lee, Chris Farley, Patrick Swayze, Richard Pryor and JFK Jr. Capitalizing on its global reputation as creators and producers of premium content, Network has recently announced that it intends to create and distribute NFTs using existing and upcoming content. Readers are urged to click here to visit Network’s website to explore its rich content. GROW Getting Early Exposure to the NFT Craze The Company sees great potential in what Network has planned for its intellectual property, and it is keen to explore the nascent NFT space as a complement to its investment in HIVE Blockchain Technologies, Inc. (Nasdaq: HIVE), which has also invested in Network. The Company owns unsecured convertible HIVE debentures as well as common share purchase warrants. “We’re backing a strong team at Network Entertainment,” says Frank Holmes, Company CEO and chief investment officer, as well as Executive Chairman of HIVE. “I’ve known Network Board Member Tim Gamble for years, who’s a true visionary, having co-founded and been a former CEO of Thunderbird Entertainment Group, Inc. (TSX.V: TBRD). Network has such a rich portfolio of intellectual property, and I’m excited to see how it can be monetized using NFTs. Most NFTs operate on the Ethereum network, as does its native digital currency Ether, which HIVE mines, along with Bitcoin, using only 100% green renewable energy. A...