BEIJING, Sept. 6,
2023 /PRNewswire/ -- Scienjoy Holding Corporation
("Scienjoy," or the "Company") (NASDAQ: SJ), a leading provider of
live streaming and entertainment platforms, is thrilled to announce
its strategic investment of US$3
million to acquire a 30% equity interest in DVCC TECHNOLOGY
L.L.C ("DVCC"), a Dubai-based metaverse company dedicated
to transforming entertainment through innovation. This pivotal move
signifies Scienjoy's unwavering commitment to metamorphosing its
business transformation strategy from mobile entertainment to
metaverse lifestyle, catalyzed by global expansion starting from
the dynamic Middle East and
North Africa (MENA) region.
This strategic acquisition marks a transformative chapter for
Scienjoy as it embraces the metaverse evolution. DVCC, led by
visionary CEO Zafer Isik, is a
Dubai-based metaverse
company spearheading the creation of the "Dubai Verse Cup," an innovative horse
racing metaverse project. This groundbreaking initiative is made
possible through an exclusive partnership with the
Dubai Racing Club,
organizer of the prestigious "Dubai World Cup," the globe's most
spectacular horse race since 1996.
"Our investment in DVCC underscores our dedication to pioneering
innovation and shaping the metaverse landscape," said Mr.
Victor He, CEO of Scienjoy, "This
strategic step empowers Scienjoy's transition from mobile
entertainment to metaverse lifestyle, as we leverage AI-powered
technology to redefine how people experience entertainment
globally. We are excited to collaborate with DVCC to bring
personalized elegant metaverse lifestyle for everyone."
DVCC's commitment to metaverse innovation aligns seamlessly with
Scienjoy's metamorphic journey. The "Dubai Verse Cup" is set to transform
horse racing into a metaverse phenomenon, resonating with audiences
across the globe and redefining entertainment paradigms.
Mr. Zafer Isik, CEO of DVCC,
expressed his enthusiasm: "We are delighted to partner with
Scienjoy, an industry leader that shares our vision for the
metaverse. This collaboration combines Scienjoy's decade-long
technology and operational expertise with our innovative metaverse
concepts. The 'Dubai
Verse Cup' is just the beginning of our shared journey to create a
Dubai characteristic
metaverse ecosystem for global users through Scienjoy's AI-powered
platform, SJ Verse."
About Scienjoy Holding Corporation
Scienjoy Holdings Corporation (NASDAQ: SJ) is a pioneering
Nasdaq-listed interactive entertainment leader. Driven by the
vision of shaping a metaverse lifestyle, Scienjoy leverages
AI-powered technology to create immersive experiences that resonate
with global audiences, fostering meaningful connections and
redefining entertainment. For more information, please visit
http://ir.scienjoy.com/.
About DVCC TECHNOLOGY L.L.C
DVCC TECHNOLOGY L.L.C, is a Dubai-based metaverse company dedicated
to transforming entertainment through innovation. The company's
flagship project, the "Dubai Verse Cup," elevates horse racing
into an immersive metaverse experience that captures the essence of
the iconic "Dubai
World Cup."
Investor Relations Contacts
Denny Tang
Chief Financial Officer
Scienjoy Holding Corporation
+86-10-64428188
ir@scienjoy.com
Tina Xiao
Ascent Investor Relations
+1 (917) 609-0333
tina.xiao@ascent-ir.com
Safe Harbor Statement
Certain statements made in this release are "forward looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995.
When used in this press release, the words "estimates,"
"projected," "expects," "anticipates," "forecasts," "plans,"
"intends," "believes," "seeks," "may," "will," "should," "future,"
"propose" and variations of these words or similar expressions (or
the negative versions of such words or expressions) are intended to
identify forward-looking statements. These forward-looking
statements are not guarantees of future performance, conditions or
results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside the Company's control, that could cause actual
results or outcomes to differ materially from those discussed in
the forward-looking statements. Important factors, among others,
are: the ability to manage growth; ability to identify and
integrate other future acquisitions; ability to obtain additional
financing in the future to fund capital expenditures; fluctuations
in general economic and business conditions; costs or other factors
adversely affecting our profitability; litigation involving
patents, intellectual property, and other matters; potential
changes in the legislative and regulatory environment; a pandemic
or epidemic. The forward-looking statements contained in this
release are also subject to other risks and uncertainties,
including those more fully described in the Company's filings with
the Securities and Exchange Commission ("SEC") from time to time.
The Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable law.
Such information speaks only as of the date of this release.
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SOURCE Scienjoy Holding Corporation