Virtual Interactive Technologies Corp. sign a memorandum of understanding

Denver, Colorado, July 18, 2022 (GLOBE NEWSWIRE) — Virtual Interactive Technologies Corp., (OTC: VRVR) (“VRVR” or the “Company”)a cross-platform video game company is pleased to announce that it has entered into a joint venture memorandum of understanding with CloudCoin Consortium SV (“CloudCoin”).

Virtual Interactive Technologies and CloudCoin Consortium SV will form a joint venture based on a marketing and co-branding relationship using CloudCoin’s unique patented privacy features as a payment method and reward system for players of VRVR’s interactive game portfolio . CloudCoin is based on a new counterfeit detection technology called “RAIDA” (Redundant Array of Independent Detection Agents). Instead of having a public ledger that tracks all transactions, CloudCoin simply verifies if coins are genuine. CloudCoin’s goal is very simple: to be the best currency in the world. CloudCoins were developed based on a new “perfect money theory” which spells out confidentiality, efficiency, availability and integrity.

“VRVR is very excited to be working with the team at CloudCoin Consortium SV to bring its truly unique authenticated digital coin platform to the gaming industry,” said Jason Garber, CEO of Virtual Interactive Technologies. He also said, “We believe the CloudCoin platform is a great option for our customers in terms of introducing digital currencies into our games.”

“We very much look forward to partnering with Virtual Interactive Technologies to bring CloudCoin to the gaming world,” said Mr. Sean Worthington, Founder of CloudCoin Consortium SV and patent holder of the RAIDA technology, the underlying keystone of CloudCoin. . He added, “The many benefits that CloudCoin brings to the digital market will help to have a significant impact on the integrity of VRVR’s digital coin carriers planned for their future projects.”

About Virtual Interactive Technologies Corp.

Virtual Interactives Technologies Corp. (www.vrvrcorp.com) is a video game production, publishing and technology company based in Denver, Colorado. The company currently has a portfolio of five video game titles including: Carmageddon MaxDamage, Carmageddon Crashers, Interplanetary Improved Edition, Worbital, and Catch & Release VR. The Company develops video game projects to be released on various popular game platforms with a focus on mobile games, virtual reality and other new and emerging game technologies. We seek to team up with existing game developers as well as offer our own expertise in developing solutions, publishing and marketing video game products. We constantly strive to find ways to reinvest our royalty revenue streams into the growth of our royalty deals and our intellectual property in the video game industry.

About CloudCoin

CloudCoin is a digital currency built on the RIDA technology platform. To learn more about CloudCoin, visit www.cloudcoin.com and www.cloudcoin.global.

For more information :

Bruce Nurse – Investor Relations
(303) 919-2913
[email protected]

Perry A. Thomasson