Metasphere Labs and PureSky Forge Key Partnership to Develop Carbon Credit Registry

VANCOUVER, British Columbia, May 14, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N), a leader in metaverse and Web3 strategies, and Pure Sky Registry LLC ("Pure Sky"), an innovator in the Web3 Carbon Credit Registry, have finalized their partnership to integrate blockchain technology into environmental sustainability efforts. Following the initial MOU dated March 27, 2024, Metasphere will develop an MVP to fully integrate Pure Sky's carbon credit registry and DAO operations.

Natasha Ingram, CEO of Metasphere, emphasized the project's role in advancing blockchain for environmental benefits and global sustainability.

Marty Seymour, Managing Director of Pure Sky, noted, “This collaboration could potentially revolutionize carbon credit management, enhancing platform functionality and user experience. Digital ledger based carbon credit tracking will be foundational to managing Scope 3 emissions tracking.”

This initiative aims to transform the environmental sector by making carbon credit transactions more transparent, secure, and efficient, aligning with the trend of tokenizing real-world assets for better tracking and verifiability. Many top industry leaders agree with this vision; for example, Larry Fink, CEO of BlackRock, has highlighted on several occasions the transformative potential of such tokenization and the significant economic opportunities in the carbon economy, predicting that the world's first trillionaires will emerge from climate change solutions¹.

The solution will be delivered to Pure Sky by July 1, 2024.

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¹ https://decrypt.co/116145/blackrock-ceo-says-next-generationmarkets-is ...

About Pure Sky Registry LLC:

Operating as a DAO on an Ethereum L2 blockchain, Pure Sky focuses on certifying and tokenizing carbon credits to promote environmental sustainability through participatory governance and smart contract utilization.

About Metasphere Labs:

Based in Vancouver, British Columbia, Metasphere Labs develops solutions for the metaverse, DAOs, gamification, and Web3, addressing social challenges related to climate change and aiming for a positive planetary impact.

For more information, contact Natasha Ingram, CEO, at [e-mail].

Forward-Looking Information

This news release contains "forward-looking statements." Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, the development of an MVP to fully integrate Pure Sky's carbon credit registry and DAO operations to advance blockchain for environmental benefits and global sustainability, the delivery of the MVP to Pure Sky by July 1, 2024, other open metaverse projects and the development of virtual world projects.