Novation Holdings, Inc.

Novation Holdings, Inc. (NOHO) has announced a Share Exchange Agreement to acquire CraftClouds, LLC, a next-gen NFT platform, offering a decentralized application for creators and enterprises. The NFT market reached over $23 billion in trading volume in 2021, with projections of $35 billion in 2022 and $80 billion by 2025. With CraftClouds, Novation aims to enhance its marketplace for artists, alongside terminating a previous acquisition deal. This strategic move is intended to leverage the growing NFT sector and enhance shareholder value. CraftClouds is a next-gen NFT (non-fungible token) platform and ecosystem designed to expand on the current offerings of marketplace-based portals and deliver a platform solution for both creators and consumers as well as large scale enterprises and brands. The CraftClouds Decentralized Application (DAPP) is feature rich and includes benefits like on-chain royalty, rather than an off-chain (database-controlled royalty system). This type of innovation allows for broader usage and monetization of these new forms of digital assets. According to blockchain analytics company, DappRadar and their recently published 2021 Dapp Industry Report, the NFT market generated over $23 billion in trading volume in 2021, an astronomical increase from the less than $100 million recorded in 2020. DappRadar further estimates that the number of unique active wallets engaging with NFTs on a daily basis went up from 5,000 in the beginning of 2021 to around 140,000 at year's end. As for what is in store for 2022, global investment banking giant Jefferies Group, LLC recently raised its 2022 NFT market-cap forecast to more than $35 billion and to over $80 billion for 2025 as Jefferies views digital assets as an emerging technology recommending that clients build a basket of investment exposure across video game, toy and game, and social media companies. Novation further announces that all parties have mutually agreed to terminate the letter of intent as executed in November, 2021 for the Company to acquire Legends of Hemp and TerraVida CBD paving the way for the Company to further dedicate its focus on acquiring and developing technology related companies and solutions.