OliveX : DUSTLAND RUNNER LAUNCHES SECOND NFT TO SALES USD 487k

OliveX Holdings Limited

AMP Tower,

Level 28,

140 St Georges Terrace

Perth WA 6000

ACN 631 675 986

Media Release

DUSTLAND RUNNER LAUNCHES SECOND

NFT TO SALES USD 487k

Monthly Active Users Continue To Surge And Other Major Company Milestones Underline

Staggering Momentum Following Dustland Runner Launch

31 May 2022 - OliveX Holdings Limited (OliveX or the Company) (NSX: OLX), through its wholly-owned subsidiary OliveX (BVI) Limited, is proud to announce a range of important Company milestones related to the OliveX Fitness Metaverse and its move-to-earn (M2E) Dustland games.

Dustland Runner Side Quest NFT Sales Go Ape

As a strategic game design development, Dustland Runner launched an exciting new side mission, Operation Ape, which allows passholders to earn DOSE from ape-themed exclusive missions featuring a quirky companion named Buster as a main character. The mint period was held from May 28 at 11am to 11pm UTC+8; the mint supply was unlimited. During the minting period 5,943 NFTs were sold to 3,200 passholders. Within 48 hours, the secondary market trading volume on OpenSea reached close to 100 ETH. Including a 5% royalty received for trading activities, the Operation Ape NFT generated USD487k in revenue.

"We're thrilled to see such a promising result from our Dustland community and to know that most of the pass holders are actual players from our current game." said OliveX Founder and CEO Keith Rumjahn. "Dustland is uniquely positioned as an audio adventure game and our sole mission is to make the game fun. We are immensely proud of the creativity we have put into crafting a world-class story with an immersive experience. We're incredibly excited to offer this unique side quest full of new redeemable game items to our runners."

Passholders also have access to rare crafting items from future ape missions in Dustland Runner and players on Ape missions will earn DOSE tokens from a separate Dustland reward pool.

In the coming months, OliveX will set up a DOSE/ApeCoin liquidity pool for the token pair so that DOSE earned from Dustland Runner can be swapped for ApeCoin, a popular ERC-20 governance and utility token used to empower a decentralised community building at the forefront of Web3, issued by ApeCoin DAO.

Meet BAYC #8222, But You Can Call Him Buster

As a strong believer in metaverse interoperability, OliveX is committed to supporting and collaborating with other NFT projects, a driving force behind a new addition to OliveX's NFT portfolio, Bored Ape Yacht Club (BAYC) #8222 NFT.

BAYC #8222 will be integrated into Dustland Runner as Buster, who will serve as a cheeky companion for players as they embark on various missions in Dustland. With this integration, Buster becomes the first ape in an audio adventure game ever.

"Creativity is a key pillar that we truly believe drives the growth and development of the metaverse," Rumjahn noted. "By integrating Buster, another NFT project, into Dustland, we hope to foster a creative environment for players that promotes the spirit of collaboration and interoperability."

Alpha Period Approaches Conclusion

As the end of Dustland Runner's Alpha stage approaches, OliveX officially announced the DOSE prize pool and new daily reward system that will be implemented in the game in its latest Litepaper. Early adopters of Dustland Runner will be able to start converting their Completion Tickets - which acted as a placeholder currency upon launch - into DOSE tokens, pulling from a massive prize pool of five million DOSE.

OliveX also unveiled Dustland Runner's hotly anticipated daily rewards system, which will take effect immediately following the end of the Alpha Completion Ticket period. The new Daily Activity Reward Pool will be divided into three activities upon initial launch: Season One, Supply Runs, and Operation Ape. The percentage each activity will earn from the daily rewards pool will vary; Season One and Supply Runs will earn 30% of the pool each respectively, while Operation Ape activities will earn 40%.

"We have been teasing the end of our Alpha Completion Ticket period for some time, so it's incredibly exciting for us to finally be able to announce our massive prize pool," Rumjahn continued. "And now that the Alpha period is nearing completion, we're thrilled to be implementing our new Daily Activity Reward Pool, a monumental step in developing the Dustland Runner experience and a great way to continue incentivising our runners."

Dustland Runner Now Available on iOS

Dustland Runner's iOS application became available to download via the Apple App Store on May 4; the Android version was launched earlier in March. To date, Dustland Runner has been downloaded 50,000 times across both platforms, and boasts more than 30,000 monthly active users.

"We're pleased to finally be able to make DR accessible to iOS players around the world," Rumjahn finished. "This move marked a major milestone in our efforts to foster interoperability among ecosystems and metaverses. Nothing excites me more than creating a gamified fitness application that inspires and motivates people to run, jog or walk, in whatever way they like, to stay active. This is the true vision for OliveX."

To learn more about OliveX, visit www.olivex.ai. More information on Dustland Runner can be found online at www.thedustland.com.

ENDS

About OliveX

OliveX is a digital health and fitness company delivering unique user experiences through fitness gamification, augmented reality, and play-to-earn experiences. The OliveX fitness metaverse provides platforms that enable real-world fitness to merge with the digital universe in order to engage consumers with brands, influencers, and coaches. OliveX is designed for those who exercise at home, at the gym, or outdoors in over 170 countries.

For further information, photography or interview requests, please contact:

Keith Rumjahn

Managing Director & Chief Executive Officer keith@olivex.ai

Restrictions on our Games, Fitness Metaverse, and $DOSE

Restrictions due to compliance regulations for different jurisdictions apply. Residents from certain jurisdictions may not earn

$DOSE or participate in NFT sales and/or campaigns in our fitness metaverse. Additional restrictions may apply depending on the type of game or experience you are attempting to access.