Science Blockchain Releases Q3 2024 SCI Token NAV

Santa Monica, CA — October 18, 2024 — Science Blockchain Pte Ltd. (“Science Blockchain”), the premier startup studio investing in and building blockchain technology companies, today announces that the NAV of each SCI token as of September 30, 2024 is $.69, based on the NAV of the underlying portfolio Science Blockchain Holdings, LP. Note: the NAV does not include portfolio company tokens that have been previously distributed to token holders.*

The NAV is a $.02 decrease from the $.71 NAV reported for the period ending June 30, 2024. The decrease in NAV primarily is due to fees and expenses.

The Science Blockchain portfolio includes the following:

• Cash
• Bitcoin (BTC)
• Protego Trust Company (equity)
• Wave Digital Assets (previously Wave Financial Group) (equity)
• Dapper Labs (equity) via RCapital SPV VI
• Unbound (future token)

You can find the breakdown of the Science Blockchain portfolio below:

*Total portfolio company tokens previously distributed to token holders as of September 30, 2024:

Portfolio Company Updates

Science Blockchain is pleased to provide an update on the progress of several key portfolio companies within the underlying portfolio Science Blockchain Holdings, LP. These updates highlight the strategic advancements and milestones achieved, reflecting the dynamic growth and innovative potential that such investments continue to realize.

Wave Digital Assets:

Wave Digital Assets (Wave), the SEC-registered digital asset investment management company, announced the appointment of Jim Robnett as Chief of Government Operations. This new position will be key to Wave’s move into working with the public sector on managing the digital currency components of seized assets, a move that adds to Wave’s existing work providing a combination of venture capital, fund, and private wealth management services for digital assets.

Mr. Robnett, a distinguished Senior Executive Service member, concluded a notable career in federal law enforcement in 2022 as Deputy Chief of Criminal Investigation for the Internal Revenue Service (IRS). In this capacity, he oversaw a global team of over 3,000 employees, including approximately 2,100 special agents across 21 field offices and 11 countries.

Dapper Labs:

This month, Dapper Labs released CryptoKitties, the popular blockchain game that gained immense popularity in 2017, as a mini game on Telegram. This play-to-eggdrop game serves as a precursor to a full-scale relaunch of CryptoKitties on Dapper Lab’s Flow blockchain, allowing players to hatch eggs and earn in-game currency called “Zen” for upgrades. Read more in VentureBeat. Ridhima Kahn, VP at Dapper Labs also joined the Mined with CoinFund podcast to discuss NFT development amid a quieter market and why the crypto industry must cater to the audience it’s trying to reach. In addition, the Crescendo network is now live on Flow. Crescendo is the biggest upgrade to Flow since the launch of the network, enabling full interoperability with the wider web3 ecosystem and catalyzing a new wave of users, liquidity, and apps.

Unbound Protocol:

Unbound Protocol Inc, (“Unbound”) has rebranded its platform and token to Tails and $TAILS, respectively, tying into the retail aspect of the Consumer Packaged Goods (CPG) industry. Tails will initially operate as a points-based system where users earn points for buying brand products, engaging in social quests, and making referrals. These points can be used to enter raffles, earn rewards, and more. As the platform transitions to its Open system, it will introduce the $TAILS token, bringing blockchain functionality with on-chain rewards, staking, and withdrawal capabilities. Its first launch partner, VTAGZ, will integrate Tails into its B2B marketing tech platform, elevating consumer engagement by allowing users to unlock premium offers, access exclusive raffles, and more.

Token Upgrade

The next token upgrade event is scheduled for Q4 2024. Token upgrades are now completed on a biannual basis. Please ensure you have completed the upgrade process — including registering a wallet that you control — in order to receive SCI2 tokens. For those who are holding tokens in treasury and have registered a wallet address, we will also conduct SCI2 disbursements from treasury to registered wallets during the upgrade. Token distribution events to new SCI2 token holders will follow the upgrade and treasury disbursements — these events will include any undistributed portfolio tokens. Please note: Portfolio company tokens, including those held on Tokenhub as well as future portfolio company token distributions, will ONLY be distributed to those token holders who have completed the token upgrade process and hold SCI2 tokens in a registered wallet.

As a reminder, all original SCI tokens, including those remaining on Tokenhub, are now frozen. Upgraded SCI tokens are available through the Securitize platform and the upgrade process is now open to all Science Blockchain investors at https://science.securitize.io. All SCI token holders who received their tokens via Tokenhub as part of the original issuance of the SCI tokens have received an email at the email address provided during the original SCI issuance process with instructions on how to access their Science Blockchain Investor Dashboard. Token holders can also access their dashboard directly by registering using that same email via https://science.securitize.io/.

The latest token upgrade process was completed in Q2 2024. The Science Blockchain Investor Dashboard is now live at science.securitize.io. The Science Blockchain Investor Dashboard also allows token holders to manage their SCI2 tokens once they have completed the upgrade process and have received SCI2 tokens.

Reminder for token holders to complete the token upgrade process if they have not already done so. In order to receive SCI2 tokens in future upgrades, you MUST register a wallet address. Further, token holders will need to have upgraded SCI tokens (SCI2 tokens) in a registered wallet in order to receive portfolio company tokens that were held on Tokenhub and portfolio company token distributions. Please visit https://science.securitize.io for more information and to complete the upgrade process as soon as possible.

SCI token holders are encouraged to register and visit https://www.science-inc.com/blockchain.html for current information.

The Science Blockchain team appreciates the trust and support of the SCI token holders and is committed to earning that trust each day through executing its investment strategy.

About Science Blockchain

Science has been helping entrepreneurs build successful businesses for more than six years, during which time it has funded or founded more than 85 companies, and has had $1.3B in aggregate portfolio company exits. Science Blockchain, the first incubator in the world to be funded by its own tokenized compliant securities offering (token: SCI), intends to continue this history of successful company building by helping incredible blockchain entrepreneurs create and scale the software giants of the next century. We do this in three primary ways: 1) incubating promising early stage blockchain ventures, 2) engaging on a very limited and selective basis, with companies looking to take advantage of the possibilities presented by tokenized economies, and 3) investing in compliant private offerings of blockchain businesses. The unique token structure of SCI allows us to distribute 70% of the total tokens that Science Blockchain receives through our incubation and investment strategies directly to the SCI token holders. For more details, please visit https://www.science-inc.com/blockchain.html.

Disclaimer: This release contains certain forward-looking statements, relating to Science Blockchain’s business, which can be identified by the use of forward-looking terminology such as “promising”, “plans”, “anticipated”, “will”, “project”, “believe”, “forecast”, “expected”, “estimated”, “targeting”, “aiming”, “set to”, “potential”, “seeking to”, “goal”, “could provide”, “intends”, “is being developed”, “could be”, “on track”, or similar expressions, or by express or implied discussions regarding potential filings or marketing approvals, or potential future sales of product candidates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. Science Blockchain is providing this information as of the date of this document and does not assume any obligation to update any forward-looking statements contained in this document as a result of new information, future events or developments or otherwise.