COMMUNITY UPDATE
This notice is issued in response to community inquiries seeking clarification on the status of some previously announced sports sponsorships. They refer to the involvement of the “Digitalbits” brand in association with Zytara Labs (https://zytara.com/news).
The DigitalBits Foundation, hereafter referred to as “the Foundation,” has been playing an active role in supervising the integration of technical assets related to the DigitalBits blockchain and fostering growth within the DigitalBits community as part of these partnerships.
It is essential to clarify that the Foundation does not assume any legal representation in relation to these sponsorship agreements. Therefore, it cannot make any misrepresentations regarding its role in these arrangements, nor can it disclose or comment on any legal provisions ever existing or existed between Zytara Labs and their partner entities.
Unfortunately, despite a promising start and significant partnership developments involving all parties, the Foundation has been made aware of certain challenges that have emerged within these sponsorship relationships, leading to significant consequences and adverse impacts on the DigitalBits brand.
The Foundation’s sole focus remains on the continued development and support of the DigitalBits ecosystem for the benefit of its community.
In good faith, the Foundation had initiated individual discussions with the concerned counterparties to explore potential countermeasures and remedies. However, due to the complexity of the legal relationships involving Zytara Labs and all relevant parties, the Foundation has ceased any ongoing discussions and, in adherence to its commitment to transparency, hereby informs the community that, to the best of its knowledge, all these partnerships have been definitively terminated. These partnerships with Zytara Labs have involved FC Internazionale, AS Roma, David Beckham, and NFT rights of Francesco Totti.
Football legend Francesco Totti and MotoGP rider Fabio Di Giannantonio liaise, directly with the Foundation as DigitalBits Ambassadors as it currently stands.
This notice constitutes an official communication to the DigitalBits community and all parties involved, providing clarity on the Foundation’s position in these sponsorship arrangements and its subsequent actions taken to address the situation.
The Foundation has embarked on a brand new journey, aiming to foster sustainable adoption of the DigitalBits blockchain by engaging ecosystem partners with full disclosure and transparency. As part of this new journey, Foundation will be conducting community question and answer (Q&A) sessions for any new partnership. This will provide an active opportunity for the community to seek clarifications and gain insights about any further new developments.
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