ATIF’s NFT Auction Platform Has Successfully Entered The Testing Phase
October 12 2021 - 8:00AM
ATIF Holdings Limited (NASDAQ: ATIF, the “Company”, “ATIF”), a
holding group providing business and financial consulting in Asia
and North America, announced that its technical team has
successfully completed the development of an NFT platform. The NFT
platform has entered the testing stage, and is expected to be
officially launched by the end of 2021.
ATIF’s NFT platform will support a wide range of
digital product auctions and listings, including, but not limited
to, digital art, encrypted collections, celebrity digital
signatures, and personal creations while facilitating a safe and
efficient trading marketplace for digital assets that ensures
scarcity and originality as well as solving the problem of
copyright tracing, that will be available to artists, creators,
users, and collectors. The NFT platform will be primarily targeted
towards US markets but is open to international users as well.
Additionally, the NFT platform offers an opportunity for many
artists to earn additional income through royalties, of which a
portion of such income can be donated as charity purposes.
As part of the Company's plan to establish a
diversified and decentralized financial service system, ATIF
entered the NFT segment and expanded its physical collections to
digital collections. ATIF's CEO, Jun Liu, stated that the Company
will also seek out innovative decentralized financial service
business opportunities to retain the Company's development vitality
to bring in additional income. ATIF will use its own online media
platform with nearly 10 million registered members to promote their
new NFT platform while providing NFT trading platform services to
its original members which will quickly boost the activity and
engagement in its new platform. ATIF is expected to see a boom in
2022 as the global epidemic improves and the economy recovers. ATIF
is confident that it will achieve the profitability and expects the
Company to turn losses into profits by 2022.
According to NonFungible’s end of year report,
the Non-Fungible Tokens Market Capitalization grew from $40,961,223
to $338,035,012 from 2018 through 2020, a staggering 825% increase
from when they first started tracking the data. This is expected to
grow even more in 2021 and onwards from the data set provided.
According to OpenSea, one of the largest NFT platforms in the
world, it recorded a total of $3.4 Billion in trading volume for
the month of August which was a tenfold increase from its
transaction volumes in July. This increase in volume can be
attributed to the rise in demand for NFT’s and as NFT’s become more
mainstream towards the public and influencers, this demand is
expected to grow even more in the future. Though there are often
huge activity spikes due to the increased rush in demand brought on
by the public and mainstream media, NFT’s play an integral role in
crypto and with the global collectibles market cap estimated to be
around $370 billion, NFT’s can potentially impact this global
market share.
Jun Liu, President, Chairman of the Board and
CEO of ATIF was an early executive of Alibaba, the world's largest
e-commerce website, and the founder of China's top ten online
marketing company B2B.CN, and the founder and chairman of Morgan
Networks. He is an early Internet leader in China. Liu has rich
network operation experience and believes that the ATIF developed
and launched NFT platform will be a brilliant achievement and will
lead ATIF into a higher and better level.
About ATIF Holdings LimitedATIF
Holdings Limited ("ATIF") is a holding group with business
consulting, asset management and investment business with business
centers located in Los Angeles, California, and in Hong Kong and
Shenzhen, China. ATIF mainly provides IPO Advisory Services to
small and medium-sized enterprises in Asia and North America. ATIF
has advised several enterprises in China in their plans to become
publicly listed in the U.S. ATIF was awarded the "Top 10 Best
Listed Companies 2019" from the "Golden Bauhinia Award", the
highest award in Hong Kong's financial and securities industry. For
more information, please visit https://ir.atifchina.com/.
Forward-Looking
StatementsCertain 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 guarantee 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: future financial and operating results,
including revenues, income, expenditures, cash balances and other
financial items; ability to manage growth and expansion; current
and future economic and political conditions; ability to compete in
an industry with low barriers to entry; ability to obtain
additional financing in the future to fund capital expenditures;
ability to attract new clients and further enhance brand
recognition; ability to hire and retain qualified management
personnel and key employees; trends and competition in the
financial consulting services industry; a pandemic or epidemic; and
other factors listed in the Company’s annual report on Form 20-F
and other documents filed with the Securities and Exchange
Commission. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions you that actual results
may differ materially from the anticipated results expressed or
implied by the forward-looking statements we make. You should not
rely upon forward-looking statements as predictions of future
events. Forward-looking statements represent our management’s
beliefs and assumptions only as of the date such statements are
made. These forward-looking statements are made as of the date of
this news release.
Media contact: Anna Huang, +86-139-2726-7157, anna@atifchina.com
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