Metasphere Labs Inc. Asserts Leadership in Bitcoin-Based Decentralized Identity Amid New Industry Developments

VANCOUVER, British Columbia, May 03, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. ("Metasphere" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N), today, highlighted its leadership in bitcoin-based decentralized identity solutions amid significant industry developments. The announcement follows the launch of MicroStrategy's decentralized identity platform, MicroStrategy Orange, designed to manage digital identities on the Bitcoin blockchain.

"MicroStrategy’s launch of the Orange platform is a pivotal industry development that highlights the critical role of blockchain in managing digital identities," said Natasha Ingram, CEO of Metasphere. "We are pleased to see validation of our vision with similar initiatives. Metasphere is developing a comprehensive marketplace and verification system for all decentralized bitcoin-based identity systems, including the Spaces Protocol and Sat Names. We are enthusiastic about, additionally, integrating MicroStrategy’s DID:BTC initiative into our platform."

Metasphere's vision goes beyond digital identity to redefine decentralized applications via Bitcoin, setting it apart from Ethereum Virtual Machine-based networks. "We are just scratching the surface," Mrs. Ingram commented. "Bitcoin's potential to drive Web3 adoption globally is significant."

The company is nearing the conclusion of exclusive talks with Bot Ventures Inc. to form a partnership that enhances the reach and functionality of Metasphere's services. More details about the Bot Ventures Inc. discussions and their outcome will be shared next week, underscoring Metasphere's commitment to innovation in digital identity.

ABOUT METASPHERE LABS

Headquartered in Vancouver, British Columbia, Metasphere Labs ("LABZ") develops metaverse environments, DAO solutions, gamification, and Web3 / blockchain monetisation strategies aiming to solve social coordination problems for acting on climate change and making a positive impact on the planet.

For Further Information

To learn more about Metasphere Labs and its initiatives, please contact:
Natasha Ingram, CEO
Email: [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, open metaverse projects and development of virtual world projects.