Globally Recognized Blockchain Pioneer, Lon Wong, to Advise Snap Interactive on Blockchain Strategy and Execution
NEW YORK, NY, January 3, 2018 — Snap Interactive, Inc. ("SNAP," the "Company," "we," "our" or "us") (OTCQB: STVI), a leading provider of live video social networking applications building on blockchain and other innovative technologies, today announced that it has appointed globally recognized blockchain pioneer and innovator, Lon Wong, to its Blockchain Advisory Board. Mr. Wong will be advising SNAP on its strategic development of blockchain initiatives as the Company extends its efforts to capture the growth and value creation potential of this emergent technology. Mr. Wong is currently the President of the international NEM.io Foundation Ltd. (“NEM Foundation”), which actively educates, develops and promotes the use of the NEM blockchain technology platform on an international scale. Significant developer adoption has fueled NEM’s XEM coin to obtain a market capitalization ranking in the top 10 of all crypto-currencies.
"It is an honor to be invited to join SNAP's Blockchain Advisory Board. SNAP's move into the blockchain space brings many opportunities to apply the technology effectively to new secure live video solutions and I look forward to working together," commented Mr. Wong.
Alex Harrington, CEO of SNAP, commented, “Lon is one of the world’s leading technologists and pioneers in blockchain, and it will be a great privilege to work closely with him on our development initiatives. Lon’s deep technical expertise and extensive industry experience as an early innovator of blockchain technologies will both be amazing assets to draw upon as we further the development of Backchannel, our secure video messaging application, and expand other blockchain initiatives.”
About Snap Interactive, Inc.
Snap Interactive, Inc. is a leading provider of live video social networking applications building on innovative technologies such as blockchain. SNAP's product portfolio includes Paltalk and Camfrog, which together host one of the world's largest collections of video-based communities, and Backchannel, a secure video messaging app built on blockchain, due to launch in 2018. The Company also offers FirstMet, a prominent interactive dating brand serving users 35 and older. The Company has a long history of technology innovation and holds 26 patents related to video conferencing and online gaming.
About NEM.io Foundation Ltd.
The NEM.io Foundation is incorporated in Singapore as a company limited by guarantee. The sole purpose of the NEM Foundation is to introduce, educate, and promote the use of the NEM blockchain technology platform on an international scale to all industries and institutions. The NEM Foundation is endorsed by an international network, compiled of a wealth of experience in IT, entrepreneurship, business processes, trading, property and asset development, international management and academia. The business’ ethos is to provide NEM’s blockchain technology platform to enhance enterprise whilst being run by the people, for the people. NEM’s team provides this through an array of support and education, from training events and service providers to technical support for the ecosystem. NEM Blockchain technology has the potential to change the way every industry manages its information and data. The NEM Foundation details the opportunities in every industry to effectively store transaction, customer, and supplier data in a transparent immutable ledger.
For more information on SNAP, please visit http://www.snap-interactive.com.
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Snap Interactive Investor Relations Contact:
VP, MZ Group
This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with general economic, industry and market sector conditions; the ability to effectively develop and incorporate blockchain technology into the Company's applications; the ability to effectively integrate the operations of the Company and AVM; user acceptance of our updated applications; the Company's ability to institute corporate governance standards or achieve compliance with national securities exchange listing requirements; the Company's future growth and the ability to obtain additional financing to implement the Company's growth strategy; the ability to increase or recognize revenue, decrease expenses and increase the number of active subscribers, new subscription transactions or monthly active users; the ability to enter into new advertising agreements; the Company's ability to generate positive cash flow from operations; the ability to diversify new user acquisition channels or improve the conversion of users to paid subscribers; the ability to anticipate and respond to changing user and industry trends and preferences; the intense competition in the online dating marketplace; the ability to release new applications or derive revenue from new applications; and circumstances that could disrupt the functioning of the Company's applications. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission ("SEC"), including the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov.
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