Global Tech Industries Group, Inc. Announces Update Regarding Tokenization and Dividend of Picasso Engraved Etching
New York, NY, May 04, 2021 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today an update regarding its recently acquired Picasso engraved etching.
As previously announced, the original Picasso acquired by the Company to form part of its planned digital fine arts and collectibles platform is entitled ‘Quatre femmes nues et tete sculptee’ and was executed in 1934 on Montval laid paper and published by A. Vollard, Paris, in 1939 (the “Picasso Etching”).
The Company intends to tokenize the Picasso Etching and is evaluating the process for issuing to its shareholders pro-rata fractional interests in the tokenized Picasso Etching that would trade on a blockchain-based Alternative Trading System (”ATS”), which the Company plans to develop with Alt 5 Sigma once the ATS has completed the required regulatory filings. It is anticipated that fractional interests in the tokenized Picasso Etching would be held only in accounts with broker-dealers who subscribe to the Company’s ATS, which would initially include Wynston Hill Capital, LLC, a FINRA member broker-dealer.
David Reichman, GTII’s Chairman, stated, “With the Company attempting to deepen its relationship with Alt 5 Sigma to include an ATS and a FINRA member broker-dealer, it makes sense that we would seek to have our first digital fine arts piece exclusive to our ATS where trades of the tokenized fractional interests can be settled in a secure and timely manner,”.
About Global Tech Industries Group, Inc.: GTII is a publicly traded company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies.
Please follow our company at: www.otcmarkets.com/stock/GTII
About Alt 5 Sigma Inc.: ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency, and compliance.
ALT 5 provides its clients the ability to buy, sell, and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 's products and services are available to Banks, Broker-Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
About Wynston Hill Capital LLC: Wynston Hill Capital is a full-service boutique investment bank that works with established companies across a diverse universe of industries. The company plans to add value to its individual clients by comprehending and focusing on the short and long-term financial and strategic goals of its clients.
For more information, visit www.wynstonhillcapital.com.
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