ZW Data Action Technologies Inc. Partners with Forbes Global Alliance to Jointly Launch NFT Products
July 26 2022 - 7:30AM
ZW Data Action Technologies, Inc. (Nasdaq: CNET) ("ZW Data" or the
"Company"), an integrated online advertising, precision marketing,
data analytics, and other value-added services company, today
announced that it entered into a cooperation agreement with Forbes
Global Alliance (“FGA”), to build the Forbes China Group Digital
Collection Platform to launch NFT Products and jointly operate the
platform data by leveraging the two parties’ respective capital,
platform and resource advantages.
Forbes China Group, under Forbes Global Media
Holdings Inc. (“Forbes”), is an international company that combines
media and community and focuses on China’s business sector. It owns
Forbes China and Forbes Global Alliance. FGA is a global exchange
platform that unites and cultivates outstanding Chinese talents.
Forbes is an international media, branding and technology
consultancy company. Since its establishment in 1917, Forbes has
created and accumulated vast valuable Intellectual Property (“IP”)
series and contents including The World's Most Innovative Companies
List, Forbes Worlds Billionaires, Forbes China Rich List, and
more.
This cooperation with FGA is another important
initiative for the Company to continue its expansion to the NFT
market, following its cooperation with China Digital Culture
(HKG:08175) and Guangzhou Digital Gold Information Technology Co.,
Ltd on IP. The Company will establish a digital collection platform
for FGA, and co-release a limited number of FGA’s NFT products,
offering services including but not limited to web hosting, digital
marketing and content delivery. FGA’s NFT products contain several
rare contents and various presentation formats such as badges,
paintings, and videos. Combined with the “uniqueness” and
“perpetual retention” features of NFT, FGA’s NFT products will have
exhibit and collection values. FGA and ZW Data plan to collaborate
with several artists and promote the NFT products to the
international market. The Company expects that the IP and
networking resources from FGA will be a booster for its NFT
products, which could become one of the major methods for FAG to
generate revenues in the future.
“The emergence of NFT has changed the
traditional virtual commodity trading model, and the cooperation
with FGA is a new attempt of ZW Data in NFT + digital publishing.
We envisage that we are able to launch more digital assets online
through the NFT platform by building a multi-industry blockchain
application platform, as we always aim to expand NFT applications
to more industries, promote NFT development and enhance the value
of traditional industries. The global NFT trading volume has been
increasing since 2021. According to the China Digital Collections
(NFT) Market Analysis Summary 2021 issued by science.china.com.cn,
since 2021, about 4.56 million digital collectibles were issued in
China with a total market value of approximately 150 million RMB.
In April 2022, about 5 million digital collectibles were issued in
one month with a total value of 230 million RMB, showing a rapid
growth. We are confident about the future development of NFT market
and believe that this cooperation with FGA will largely benefit our
revenue growth going forward,” commented Handong Cheng, Chairman
and Chief Executive Officer of ZW Data.
About ZW Data Action Technologies
Inc.
Established in 2003 and headquartered in
Beijing, China, ZW Data Action Technologies Inc. (the “Company”)
offers online advertising, precision marketing, data analytics and
other value-added services for enterprise clients. Leveraging its
fully integrated services platform, proprietary database, and
cutting-edge algorithms, ZW Data Action Technologies delivers
customized, result-driven business solutions for small and
medium-sized enterprise clients in China. The Company also develops
blockchain and artificial intelligence enabled web/mobile
applications and software solutions for the general public,
enterprise clients, and government agencies. More information about
the Company can be found at: http://www.zdat.com/.
About Forbes Global Media Holdings
Inc.
Established in 1917, Forbes is an international
media, branding and technology consulting company that specializes
in covering finance, international business, marketing,
entrepreneurship, travels, and lifestyles. Forbes champions success
by celebrating those who have made it, and those who aspire to make
it. Forbes convenes and curates the most influential leaders and
entrepreneurs who are driving change, transforming business and
making a significant impact on the world. The Forbes brand today
reaches more than 150 million people worldwide through its trusted
journalism, signature LIVE and Forbes Virtual events, custom
marketing programs and 45 licensed local editions covering 76
countries. Forbes Media’s brand extensions include real estate,
education and financial services license agreements. More
information can be found at:
https://www.forbes.com/connect/who-we-are/.
About Forbes Global
Alliance
Forbes Global Alliance (FGA) is a global
exchange platform under Forbes Media Group. Relying on Forbes'
global impact and cross industry resources, FGA is deeply
integrated with Forbes China. Through diverse and customized online
and offline content and events, we offer our members unique
opportunities to learn, flourish, and succeed. FGA has created an
elite service community that meets the needs of members at
different life stages and career levels. On a par with the mission
of the Forbes Councils in the United States, we are committed to
convening up-and-coming industry leaders to establish a boutique
elites networking community by providing unprecedented benefit
portfolios, assisting each member to enhance social influence, thus
carving out their new frontier of life. More information can be
found at: https://www.fgacn.com/index.php?p=gywmen.
Safe Harbor Statement
This release contains certain "forward-looking
statements" relating to the business of ZW Data Action
Technologies Inc., which can be identified by the use of
forward-looking terminology such as "believes," "expects,"
"anticipates," "estimates" or similar expressions. Such
forward-looking statements involve known and unknown risks and
uncertainties, including business uncertainties relating to
government regulation of our industry, market demand, reliance on
key personnel, future capital requirements, competition in general
and other factors that may cause actual results to be materially
different from those described herein as anticipated, believed,
estimated or expected. Certain of these risks and uncertainties are
or will be described in greater detail in our filings with the
Securities and Exchange Commission. These forward-looking
statements are based on ZW Data Action
Technologies Inc.’s current expectations and beliefs
concerning future developments and their potential effects on the
Company. There can be no assurance that future developments
affecting ZW Data Action Technologies Inc. will be those
anticipated by ZW Data Action Technologies Inc. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond the control of the Company) or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by such
forward-looking statements. ZW Data Action Technologies
Inc. undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
For more information, please
contact:
Sherry ZhengWeitian Group LLCEmail:
shunyu.zheng@weitian-ir.comPhone: +1 718-213-7386
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