Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Looking Glass Labs Ltd on Monday reported a swing to a loss in the six months that ended January 31, as revenue plummeted on lower non-fungible token sales.
Looking Glass is a Vancouver, British Columbia-based Web3 platform specialising in immersive metaverse environments, play-to-earn tokenisation, and blockchain monetisation strategies.
Looking Glass swung to a half-year loss of C$8.4 million, about £5.0 million, from a profit of C$2.3 million a year prior. Revenue fell to C$210,004 from C$6.8 million, as non-fungible token sales decreased.
Looking ahead, Chief Executive Officer Dorian Banks said he is optimistic on the outlook for Looking Glass, as the company continues ‘to seek accretive partnerships and revenue opportunities into the future’.
Copyright 2023 Alliance News Ltd. All Rights Reserved.