SkyChain Technologies Inc. has signed a Letter of Intent to establish a joint venture with The Embassy Visual Effects Inc. The joint venture will work together to develop and grow SkyRendering Technologies Inc. ("SkyRendering"), a separate joint venture established between SkyChain and Synergy Corp, as announced in SkyChain's news release of July 7, 2021. Under the Embassy joint venture, Embassy will help SkyRendering provide premier visual effects rendering services to the film and entertainment industry. Embassy will provide back-end technical support and personnel to the SkyRendering joint venture. The LOI between SkyChain and Embassy is non-binding, and its purpose is to outline the principal conditions upon joint venture. The precise terms will be contained in a definitive agreement.