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OliveX Holdings Limited (OLX.NSX) TRIB3 Partnership Executed

·4-min read
OliveX Holdings Limited
OliveX Holdings Limited

OliveX Holdings Limited (OLX.NSX) TRIB3 Partnership Executed

Sydney, Australia, Jan 19, 2022 - (ABN Newswire) - OliveX Holdings Limited (NSX:OLX), through its wholly-owned subsidiary OliveX (BVI) Limited, is pleased to announce that it has entered into a landmark partnership with a wholly-owned subsidiary of fitness franchise brand, TRIB3 International (TRIB3), to create TRIB3 digital experiences and NFTs. This exciting deal sees TRIB3 become the first fitness studio operator to join OliveX's fitness metaverse and the third brand partner to come onboard.

In collaboration with TRIB3, OliveX will design, construct and distribute the TRIB3 digital items and experiences within the OliveX owned LAND, within the Sandbox. The Sandbox is a leading decentralized virtual real estate and gaming world from Animoca Brands and has partnered with globally renowned brands and Intellectual Property (IP) including Snoop Dogg, Steve Aoki, Adidas & The Walking Dead.

OliveX is now engaged with multiple brand partners and will be able to create a diverse and interactive combined digital experience within the OliveX owned 12x12 parcel of LAND in the Sandbox. The Inclusion of TRIB3 to this group of brand partners will provide one of the first ever group studio fitness training digital experiences within the metaverse as well as related NFTs.

Consistent with other brand partnerships, the TRIB3 NFTs will provide players the ability to enjoy their rewards across a wider range of games, including utility within the wider OliveX ecosystem including Dustland Runner and Dustland Rider as well as in the Sandbox.

OliveX and TRIB3 will split all revenue generated from both the primary sales of NFTs as well from royalties on secondary sales of NFTs on an equal basis.

About TRIB3

TRIB3 is a boutique fitness studio that fuses scientifically-proven HIIT workouts, fully tracked with heart-rate monitors to provide customers with a unique experience and live performance measures. TRIB3 is active in several international markets including UK, Spain, Finland and the Benelux with stores sold across eight international markets making TRIB3 one of the fastest growing fitness boutiques in Europe. TRIB3 is now one of the first ever fitness studios to expand into the metaverse.

TRIB3 data driven training system and proprietary heart rate monitor, the SWEAT BAND, allows customers to track every class live to see calories burned, SWEAT Points earned, TRIB3's proprietary measure of effort level, and time spent in each heart rate zone. The band connects seamlessly with their in-studio displays and the TRIB3 SWEAT app so customers can see their data, in the session and out of it.

Keith Rumjahn, founder and CEO of OliveX, commented:

"This is another outstanding achievement for the OliveX team and we are extremely honoured to get the opportunity to work with our newest brand partner, TRIB3. The last 12 months was huge for OliveX but we have no intention of slowing down as we gear up to rapidly expand the fitness metaverse and continue to aggressively explore for more brand partners.

"The inclusion of TRIB3 to the fitness metaverse can't be understated, their unique boutique fitness concept already pushes boundaries from a technology perspective, utilising data driven metrics to achieve optimal outcomes for their clients. Now they will be one of the first fitness studios to enter the metaverse and we look forward to making that happen."

Kevin Yates, founder and CEO of TRIB3, also says:

"Innovation and technology sit at the heart of the TRIB3 brand, so I am delighted to partner with a market-leading organisation like OliveX to bring our unique and next-level fitness experience to the metaverse. This is a first-of-its-kind deal and allows us to take a transformative next step with our custom tracking metric, SWEAT Points, as well as launch the first ever TRIB3 NFTs.

This collaboration is an exciting next step for TRIB3 alongside continued global expansion of our signature studio concept."


About OliveX Holdings Limited:


OliveX (NSX:OLX) is a digital health and fitness company selling innovative products and applications to deliver a unique user experience using artificial intelligence, gamification and premium content. With its flagship product the KARA Smart Fitness Mirror and associated subscription-based applications, OliveX provides a platform that links and engages consumers with brands, influencers and fitness coaches and that enables any space to become a personal fitness studio. OliveX has a market reach that spans over 170 countries.

Contact:

Keith Rumjahn
Chief Executive Officer
keith@olivex.ai

Henry Jordan
Six Degrees Investor Relations
Henry.jordan@sdir.com.au
+61 (0) 431 271 538

Source:
OliveX Holdings Limited

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