Orthogonal Global Group supports tokenization of telecommunications minutes markets though purchase of MNT tokens, and announces the closing of a $5 Million fund by portfolio company, Contango Digital Assets, for AI x blockchain

TORONTO, May 06, 2024 (GLOBE NEWSWIRE) -- Orthogonal Global Group Inc. (“Orthogonal” or the “Company”) (CSE: OGG) (OTC Pink: OGGIF) (FSE: 8M9), a global accelerator and public investment platform focused on furthering initiatives in the wellness, AI, digital ownership, deep tech and fintech spaces, is excited to announce the purchase of tokens offered by Minutes Network Token and the closing by one of its portfolio companies, Contango Digital Assets ("Contango"), of a $5 Million venture fund focused on AI and blockchain.

Minutes Network Token (MNT) – Tokenization of Telecommunications Minutes Market

The Company purchased 11,160 MNT, a token project of Minutes Network supporting the sharing economy of the telecommunications minutes market. MNT uses blockchain technologies to decentralize the global scale, multibillion dollar, telecommunications commodity minutes market. MNT tokenizes bandwidth and distributes value to Minutes Network participants with the aim to deliver the lowest-cost termination charges in the market.  Each MNT represents $USD0.224 per token as part of a private sale allocation of MNT. Orthogonal is excited to support a token project based upon the blockchain. For more information about MNT, please go to minutesnetwork.io.

Portfolio company, Contango Digital Assets, Closes $5 Million Seed Fund for AI x Blockchain

Orthogonal portfolio company, Contango, recently closed $5 Million of a $10 Million fund focused on the intersection of AI and blockchain.

On April 15, 2024, Contango announced the successful first close of its latest venture fund, the Contango Blockchain x AI Fund, bringing in an impressive $5 million in Limited Partner capital. The fund is dedicated to investing in North American seed round companies building at the intersection of blockchain and artificial intelligence. The new fund represents a strong conviction bet on the growth and importance of decentralized AI over its centralized counterparts.   Investors in the Contango Blockchain x AI Fund include the CEO of Quantstamp, the CFO at SingularityNet, the CEO at WonderFi, a GP from X Ventures, early LPs in Digital Currency Group and Polychain Capital, and investors from VANTA DAO. With strong backing, the fund is poised to help drive forward the convergence of blockchain and AI technologies. David Nikzad, CEO of the Company, stated that “We are excited to be a part of this new fund at the forefront of AI and blockchain as an early investor of Contango (as general partner), and we believe in the vision laid out by Contango Managing Partners, Mike Grantis and Joshua Field, in these sectors.”