SHANGHAI, July 8, 2024
/PRNewswire/ -- MultiMetaVerse Holdings Limited ("MMV" or the
"Company"), a leading animation and entertainment company for young
consumers in China, announced
today that it has entered into an agreement (the "Agreement") with
Zhenghe Holding Co., Limited ("Zhenghe") to establish a joint
venture ("Joint Venture") to invest in and trade alternative assets
with the assistance of quantitative investment algorithms to be
jointly developed by the parties. Pursuant to the Agreement,
Zhenghe will own 80% of the new Joint Venture and responsible for
its daily management and operation. MMV will hold a 20% stake and
have the right to appoint one director to the Joint Venture's
board.
Zhenghe was founded in 2020 in Hong
Kong, China as a blockchain technology service provider, and
has expanded and established its Central and Southeast Asia arm. Furthermore, it has built
a quantitative trading team which develops trading strategies,
algorithms and the trading system.
Yiran Xu, Chairman and CEO of MMV
commented, "We are pleased to be embarking on this journey to work
with the Zhenghe team in this brand new fintech venture. We are
deeply impressed with Zhenghe team's insights and acumen in
investment and trading. Both MMV and Zhenghe have been investing in
AI applications, and we trust such research and development could
gradually become the cornerstone intellectual property of the new
Joint Venture. Depending on the development of the Joint Venture,
we may seek to increase our stake in it."
Wenjin Li, Director and CEO of
Zhenghe commented, "We're excited to be partnering with MMV. In
today's changing economic and political environment, we believe
that alternative assets, such as cryptocurrency and
gold, are better investment targets than traditional equity and
debt instruments. With our quantitative trading system plus the
algorithm technology we plan to develop together with MMV, our
vision is to develop into a next-generation fintech company
featuring alternative assets."
About MultiMetaVerse Holdings Limited
MultiMetaVerse Holdings Limited (NASDAQ: MMV) is an animation
and entertainment company dedicated to providing a high-quality,
immersive entertainment experience through original,
user-generated, and professional user-generated content. MMV
commenced animation production in 2015 under its signature Aotu
World brand, which has attracted a broad following with its
inspiring storyline and unique graphic style, particularly among
younger audiences in China. By
leveraging the company's established user base, MMV has built a
diverse product portfolio, including animated content, comic books,
short videos, collectibles, stationery, consumer products, and
mobile games across the Aotu World brand. It has also developed and
augmented new brands, stories, and characters, such as Neko
Album.
For more information, please visit
https://www.multi-metaverse.com/.
Safe Harbor Statement
This press release contains forward-looking statements which
generally are identified by the words "believe," "project,"
"expect," "anticipate," "estimate," "intend," "strategy," "future,"
"opportunity," "plan," "may," "should," "will," "would," "will be,"
"will continue," "will likely result," and similar expressions.
Without limiting the generality of the foregoing, the
forward-looking statements in this press release include
descriptions of the Company's future commercial operations.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, such as the Company's inability to implement its business
plans, identify and realize additional opportunities, or meet or
exceed its financial projections and changes in the regulatory or
competitive environment in which the Company operates. You should
carefully consider the foregoing factors and the other risks and
uncertainties described in the Company's Annual Report on Form
20-F and other documents filed or to be filed by the Company
with the SEC from time to time, which could cause actual events and
results to differ materially from those contained in the
forward-looking statements. All information provided herein is as
of the date of this press release, and the Company undertakes no
obligation to update any forward-looking statement, except as
required under applicable law.
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SOURCE MultiMetaVerse Holdings Limited