Global Fiber Technologies (OTC: GFTX) announced that its subsidiary, Authentic Heroes Inc., has entered into a joint venture (“JV”) agreement with Maestro Entertainment LLC. to explore opportunities in the music space. Offerings will include limited-edition vinyl records, a sector where demand is currently outpacing supply, bundled with individualized music NFTs; in some cases, the bundles might also include Authentic Heroes “Made from the Original” collectibles. Global noted that its exclusive NFTs will be driven by artificial intelligence (“AI”) and will feature music tracks and AI-driven art form. “Our joint venture with Maestro Entertainment is a watershed deal for both sides,” said Global Fiber Technologies president Chris Giordano in the press release. “The Maestro catalog consists of over 17,000 songs from the ‘40s, ‘50s, ‘60s, ‘70s and ‘80s across the entire genre of music. They include spectrum of artists, many of them whom are Grammy Award winners ranging from Bob Marley, the Jackson 5, Jefferson Airplane to BB King. We will marry this massive library of ‘legacy music’ with our ability to market and distribute the music compilations into brick-and-mortar stores including mass Merchandisers, hypermarkets and big box stores. We will do this through a joint venture we are developing with a large direct-response marketing partner, which has a footprint of over 100,000 stores and 5 million active retail customers as part of their customer base. We expect to finalize terms of the joint venture in the coming weeks and then start the march in developing ‘planograms’ with the brick-and-mortar stores for of what could be our first delivery schedules later this year.”
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About Global Fiber Technologies Inc.
Global Fiber Technologies is an ECO-technology holding company that specializes in the repurposing of textile fibers. The company operates through three subsidiaries: Authentic Heroes Inc., ECOTEK360 and Fiber-chain LLC. GFTX uses its patented technologies and proprietary trade secrets to bring cutting-edge attributes and value-added properties to textile and apparel industries. The company will market its branded products to both the B2B and B2C markets, which will include the corporate, hotel, hospital, and military and e-commerce consumer markets. For more information, visit the company’s website at www.GlobalFiberTechnologies.com
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