Detroit, Michigan, June 29, 2022 (GLOBE NEWSWIRE) — Artificial Intelligence Technology Solutions, Inc., (OTCPK:AITX), today announced that it will soon be launching a non-fungible token (NFT) program. The initial release of the NFT program is based on ROSA, a security robot produced by Robotic Assistance Devices (RAD), a wholly owned subsidiary of AITX.
All digital artwork was created in-house by AITX’s team of graphic designers. The NFT celebrates ROSA, RAD’s best-selling device which like the NFT is also unique. The Company expects to announce several large-scale orders and deployments over the coming months and years.
“I am so excited to finally share this project. It was touted as being unique, and I do guarantee it will be fun,” said Steve Reinharz, CEO of AITX. “I can also guarantee that this will open some new doors for AITX and the community.”
An NFT is an asset verified using blockchain technology, in which a network of computers records transactions and gives buyers proof of authenticity and ownership. The current boom is mostly for digital assets, including images. NFTs make digital artworks unique, and therefore sellable.
“If we can build upon the tremendous energy that’s present today within the AITX community and embrace the NFT, I plan on filing a formal document with FINRA that would include a royalty as part of the next NFT’s roadmap,” Reinharz added. “This alternative funding method has the potential to significantly change how companies might raise capital while sharing benefits with the investors, without resorting to traditional venture capital, banking or the issuance of additional shares.”
Sales of NFTs skyrocketed to more than $17 billion in 2021, according to a report from NFT data company Nonfungible.com, up 21,000% from 2020′s total of $82 million. The most popular category of NFTs remains collectibles, which accounted for $8.4 billion worth of sales.
Purchasers of the ROSA NFT will own a blockchain verified unique piece of technological art based on a one-of-kind security solution that is taking the security services and property management (#PROPTECH) industries by storm. It was announced in late February 2022 that RAD was preparing to build 1000 ROSA units in support of recent increases in demand.
AITX has filed for uplisting to the OTCQB. Future announcements will be made regarding the status of the OTCQB application.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are “forward-looking statements” that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of Artificial Intelligence Technology Solutions to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. Artificial Intelligence Technology Solutions undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in Artificial Intelligence Technology Solutions expectations.
About Artificial Intelligence Technology Solutions (AITX)
AITX is an innovator in the delivery of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and fuel new business ideas. Through its next-generation robotic product offerings, AITX’s RAD, RAD-M and RAD-G companies help organizations streamline operations, increase ROI, and strengthen business. AITX technology improves the simplicity and economics of patrolling and guard services and allows experienced personnel to focus on more strategic tasks. Customers augment the capabilities of existing staffs and gain higher levels of situational awareness, all at drastically reduced cost. AITX solutions are well suited for use in multiple industries such as enterprises, government, transportation, critical infrastructure, education, and healthcare. To learn more, visit www.aitx.ai, stevereinharz.com, www.radsecurity.com and www.radlightmyway.com, or follow Steve Reinharz on Twitter @SteveReinharz.
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