DatChat announces planned spin-off of its Habytat platform business

DatChat announced the proposed spin-off of its Habytat platform business into a new standalone public company pursuant to a distribution as further discussed below. This marks a significant step forward in DatChat’s corporate strategy to reposition as a pureplay social media ecosystem centered around its My Family Museum assets. DatChat currently owns approximately 75% of SmarterVerse, the entity that owns and operates the Habytat AI Gaming platform and metaverse. Subject to board approval, DatChat will distribute its shares of SmarterVerse to its shareholders. Upon consummation of the distribution, it is expected that SmarterVerse will become a standalone public company with plans for a public listing on a national stock exchange. DatChat CEO, Darin Myman commented, “Today’s announcement reflects a pivotal moment in our corporate evolution. The decision to spin off our Habytat business into a new standalone publicly traded company is significant in several ways: first, we can now focus on our core business for My Family Museum, and second, this move aligns with our commitment to unlocking shareholder value and creating substantial growth and revenue opportunities. The potential for My Family Museum is driven by the evolving landscape of digital memories. In an era where our visual stories have multiplied, there’s an increasing need for a secure platform. With the successful patent that we acquired last October, we are now uniquely positioned to focus our efforts on the preservation of data, encompassing storage, sharing, and secure control across social media technology platforms and digital archives.”