SMX (Security Matters) PLC announced that it has entered into a Sales Cooperation Agreement with Data Vault Holdings, Inc., which acts in the area of Web 3.0 technologies, crypto anchors and data software as a service, pursuant to which each party on a non-exclusive basis will effect introductions of potential clients to the other.
Pursuant to the agreement, any transaction between a party and an introduced client shall entitle the introducing party to a commission on income received in the transaction for 48 months.
In addition to entering into the Sales Cooperation Agreement, the companies intend to collaborate to advance Data Vault’s Web 3.0 strategies for data visualization, inventory tracking and laboratory automation, using SMX’s digital blockchain platform enhanced with a physical marker.
“We believe that systems integration with SMX’s blockchain technology will enable our ability to track and trace data objects within laboratory environments. Our ability to have invisible marking for consumer product is expected to enhance Data Vault’s proprietary solutions. The patented technology stack we now have in tandem with SMX’s tracing and tracking technology would expand what is currently possible with our platform. In conjunction with our other Web 3.0 anchors that allow for greater specificity, security and control, SMX’s technology is expected to give us a technical advantage. Data Vault’s planned integration of SMX’s blockchain technology will allow our customers to deploy and direct digital twin, tracing, anti-counterfeiting and data security initiatives directly from our platform with a level of scalability that we believe is truly novel,” stated Nathaniel Bradley, CEO of Data Vault Holdings.
SMX management stated, “We are excited with this cooperation that we expect could lead to an increase in SMX’s reach in finding new clients for its services. We believe that this is yet another milestone towards SMX’s growth strategy.”