OliveX Holdings Limited

AMP Tower,

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140 St. George Terrace

Perth WA 6000

ACN 631 675 986

Media release

Olivéx wants to create the world’s first blockchain cycling game with the purchase of a bicycle

Highlights

  • OliveX access to its cycling fitness platform including its licenses, material contracts, intellectual property and media from Huo Xing LimitedRed line) And Soul Cycle founder Scott Williams
  • Soul Cycling is a fitness platform integrated with the physical activity of the athlete.
  • OliverX aims to bring the motorcycle game engine into the fitness and DOSE ecosystem and build the world’s first blockchain bike.
  • Sol Cycle OliveX will build more fitness-based titles and enter the $ 54.44 billion global bike market (2020).1
  • As part of the procurement process, Redline and OlivierX have entered into a contract to continue developing SOL software in Taiwan.

November 22, 2021 – OliveX Holdings Limited(Olivex Or of Company) (NSX ፡ OL OLX) Is pleased to announce that it is fully owned by the branch.OliveX (HK) Limited (Olivex H.K.), Logged in:

  • Property Sale Agreement to acquire a successful fitness platform Sol Cycle from Redline; And
  • Software development agreement with Redline and Soul Cycle founder Scott Williams

To continue developing the SOL software in line with the Company’s strategy,

(Intended for). The key terms of the Property Sale Agreement and Software Development Agreement are attached to this notice.

About the Soul Cycle

Soul Cycling is an integrated fitness platform integrated with a bicycle. Using the exercise cycle with Bluetooth power sensors, the game monitors the players’ physical performance and enhances them in the game narrative as they continue to work.

1 Source: Grand Grand Vision Survey – Bike Market Size, Share and Trend Analysis Report on Product (Mountain, Hybrid, Road), Technology (Electric, Standard), Consumer (Men, Women, Children), Regional and Class Forecasts, 2021 – 2028

The main products of the Soul Cycle include Mars (using images from NASA JPL and UofA), each with its own unique terrain and triumph, and the story line. The game was first released on February 2021 by Redline.

OlivX and Soul Cycle

OlivX’s strategy is to continue to build open and fully complementary fitness activities and to assemble 1 portfolio Gammed fitness apps for the user base. The Soul Cycling Motor is not only compatible with the OlivX other integrated fitness offerings e.g. Zombies, run!TM And Dustland Runner But it also provides access to a wide range of user-friendly active cyclists in a large global market.US $ 54.44 Billion Global Cycling Market (2020)2.

OliveX wants to further develop both blockchain and non-blockchain gaming consoles using the game engine from Soul Cycle.And use the existing Soul Cycle community and user base. In doing so, OliviaX aims to create the world’s first blockchain bike game.

Sweat-for-Rewards A blockchain-based game allows players to earn rewards in the virtual world for their physical achievements.

  • DOSE, OliveX utility token, which can be used to upgrade and access characters.Additional features
  • Collective digital Intangible tokens (NFTs) that can be used in a game or traded on the secondary market

OliveX founder and CEO Keith Rumun comments comment

“Soul Bicycle PurchaseIt is a clear step in our strategy to build physical fitness. metaverse and allows us to create the world’s first blockchain cycling game. The Dustland Runner was our starting point but we want to build a fully-fledged and open fitness platform with an ever-growing fitness blockchain game portfolio on the OliviaX and the Soul Cycle will mark all the boxes in that we want to build ecosystem.

Soul Cycle brings a fully developed game engine, transporting it to blockchain and sweepstakes in the big-world cycling market. We feel there are endless opportunities for exercise and we look forward to developing more solar cycles.With the support of founder Scott Williams “

2 Source: Grand Grand Vision Survey – Bike Market Size, Share and Trend Analysis Report on Product (Mountain, Hybrid, Road), Technology (Electric, Standard), Consumer (Men, Women, Children), Regional and Class Forecasts, 2021 – 2028

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About OliveX

OlivXx is a digital health and fitness company that offers unique user experiences through fitness, reality and game-finding experiences. OliveX Fitness Provides platforms for engaging real-world fitness with digital universe to engage consumers with brands, influencers and trainers. OliveX is designed for more than 170 countries that exercise at home, in the gym or outdoors.

DOSE Simulator, OliveX Fitness Meters as a Transformer Platform Simulator and a tool simulator for running games, including Dustland Runner in the OliveX environment. DOSE is an antifungal drug that is compatible with ERC-20 and is an acronym for chemicals released during exercise: dopamine, oxytocin, serotonin and endorphins. The Dustland Runner is the first blockchain fitness game in which players’ physical achievements are rewarded with digital objects in the virtual world.

Figure 1 – DOSE token indicator timeline

Figure 2 – DOSE tokenomics and supply

It ends

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Attachment – Key Terms of Planned Purchase

Of The key terms of the sale agreement include:

  1. Estimate:
    1. Case of 1,666,667 DOSE Token (US $ 0.03 per DOSE Token) for the seller (or candidate)Consideration Simulations), Subject to script for 12 months;
    2. Pay US $ 75,000 in cash immediately after the planned purchase;
    3. $ 37,500 late payment to be made 12 months after the planned purchase; And
    4. In the five years since the Software Development Agreement was issued, $ 0.22 million in royalties have been covered by US $ 400,000.
  2. CompletionCompletion shall be made within 5 working days or later of the date on which the parties may agree in writing.

The key terms of the software development agreement include:

  1. The nature of services:
    1. Redline to partner with OliverX to allocate $ 300,000 over three years to provide software development services for OliverX in accordance with annual programs and budgets.
    2. Scott Williams must be given at least 20 hours a week to work on software development in Redline under a software development agreement. During any of these hours, you must first agree with OliveX HK and charge an additional $ 80 per hour.
  2. Fees:
    1. Over the next three years, USVX to Redline pays US $ 540,000 a month for $ 15,000 a month.
    2. If you want to terminate your software development agreement three years ago, OliverX will pay US $ 80,000 a year for each unfinished contract. To maintain ownership of the SOL software after the termination of OlivX.
    3. Redline Software will be entitled to a US $ 0.22 royalty fee for a limited period of five years from the date of signing the Software Development Agreement. This royalty is calculated and paid quarterly and will be paid upon termination of the software development agreement.

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Property Sale Agreement and Software Development Agreement contain other terms contained in these natural agreements, and representations and warranties, compensation and confidentiality provisions apply during and after the agreement.

For more information, photography or interview questions, please contact the closing-

Keith Rumjahn

Managing Director and CEO keith@olivex.ai

About OliveX and OliveX BVI

OliverX (NSX: OLX) is a leading health and fitness company based in Hong Kong, behind the success. Consumer and corporate fitness technology such as 22 Push Ups, KARA Smart and Volution Fitness. To inspire and engage OlivX Gaming by combining Artificial Intelligence and Premium contentConnect with consumers and connect with brands, influencers and fitness trainers. OliveX works with global health and fitness brands such as Les Mills and Gold’s Gyms and fitness clothing company Jim Esthetics.

OliveX, a privately owned company based in the British Virgin Islands, is building a fitness club where players can win prizes at home, in the gym or outdoors. These experiences are related to the newly launched DOSE token, which is designed to reward and spend on all OliveX platforms, including. 22 Push Apps and KARA Smart.

Disclaimer

Restrictions apply to different jurisdictions due to compliance rules. The $ DOSE token is not offered to residents of Australia, China, the United States of America, South Korea, Nepal, Bangladesh, Macedonia, Bolivia, Ecuador, India, Pakistan, Algeria and Morocco. The $ DOSE simulation team and its affiliates do not assume legal responsibility for refusing to comply with international law at their own hearings. The $ DOSE Group will not be liable for any loss or legal liability incurred by individuals in violation of their respective Terms of Use. For more accurate information, please consult the relevant laws governing your territory.

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Disclaimer

OliveX Holdings Ltd. Publish this content on November 22, 2021 And is solely responsible for the information contained therein. Divided by PublicUndefined and unchanged, on. 21 November 2021 23:03:06 UTC.

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