NEW YORK, Dec. 1, 2021 /PRNewswire/ -- Future FinTech Group
Inc. (NASDAQ: FTFT) ("hereinafter referred to as
"Future FinTech", "FTFT" or "the Company"), a leading
blockchain-based e-commerce business and a fintech service
provider, announced today that it signed a Strategic
Cooperative Letter of Intent with Faya Digital Technology Co., Ltd.
("Faya Digital") to establish a metaverse research and operations
platform. The metaverse is a combination of multiple elements of
technology that encompasses virtual reality, online gaming and
social media as well as a range of human activity where users can
interact within a digital universe.
FTFT and Faya Digital plan to establish the joint venture Future
Metaverse (Chengdu) Co., Ltd.
("Future Metaverse") and will cooperate to develop a new underlying
technology engine, HyperVerse Version 1.0, to run the platform. The
two parties plan to initially develop 18 non-fungible token ("NFT")
avatar products and three blockchain games. FTFT plans to leverage
Faya Digital's resources such as the metaverse ecosystem project
CITY (1.07 million dapp users), the blockchain game ecosystem
project DO (570,000 active game users), etc., to contribute to the
market development and future profitability of the HyperVerse
Version 1.0 ecosystem platform.
Faya Digital is a comprehensive R&D company dedicated to
building a symbiosis of virtual reality and a new digital space by
using blockchain, augmented reality, non-fungible token ("NFT") and
other technologies. Faya Digital has successfully developed NFT
avatar products such as 'Luckydoge', 'Violent Panda', 'Boring Ape
Evolution', 'Binance Lion King' and other NFT products using
HyperVerse, its metaverse technology engine. Faya Digital's
products have been highly recommended by leading NFT platforms such
as OpenSea and Binance.
Shanchun Huang, CEO of FTFT,
said, "We are excited to enter the metaverse sector where we foresee a myriad number of
possibilities for consumer and business interactions in the Web 3.0
era. As the metaverse ecosystem is still in its initial stages, we
see an immense opportunity to introduce a range of products and activities
that have substantial value and
that can generate future profitability. Towards that end, we plan
to implement a clear strategic plan for Future Metaverse and deploy
a top technical team to capitalize upon the prospects in this
growing but still nascent sector. We plan to utilize our business,
marketing and deep technical capabilities to achieve premier
positioning in the global metaverse world."
Jie Liu, CEO of Faya
Digital, said, "Leading global
technology companies have begun to enter and expand the metaverse
based on their capabilities and business objectives. The main
direction of the
metaverse is divided into
graphics processing unit technologies, underlying platform systems,
cloud computing, artificial intelligence, gaming, VR/AR equipment
and software. Based on our in-depth research and knowledge of the
metaverse, Faya Digital will work with FTFT to integrate
high-quality project resources in software, service, and
application sectors to build a compelling metaverse ecosystem."
About Future FinTech Group Inc.
Future FinTech Group Inc. ("Future FinTech", "FTFT" or the
"Company") is a leading blockchain e-commerce company and a
service provider for financial technology incorporated
in Florida. The Company's operations include a
blockchain-based online shopping mall platform, Chain Cloud Mall
("CCM"), an incubator for blockchain based application projects,
and supply chain financing and services. The Company is also
engaged in the development of blockchain based e-Commerce
technology as well as financial technology. For more information,
please visit http:/www.ftft.com/.
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SOURCE Future FinTech Group Inc.