MultiMetaVerse Holdings Limited Provides Update on Joint Venture
November 11 2024 - 8:00AM
MultiMetaVerse Holdings Limited (NASDAQ: MMV) (“MMV” or the
“Company”), a leading animation and entertainment company for young
consumers in China, today announced an update on its previously
announced joint venture with ZHENGHE HOLDING CO., LIMITED
(“Zhenghe”), GOLD ABC DIGITAL TECHNOLOGY CO., LIMITED (“GOLD ABC”).
GOLD ABC is a Hong Kong-based entity focused on
algorithms to achieve self-holding asset appreciation. This
collaboration with Zhenghe aims to leverage the expertise of both
parties in financial technology, blockchain, and traditional
finance. MMV owns 20% of GOLD ABC and ZHENGHE is responsible
for GOLD ABC’s daily management and operation.
It was previously announced that GOLD ABC had
borrowed 500 Bitcoins from Zhenghe at an average cost of $60,000
per Bitcoin for a one-year term at 8% interest per annum. On
November 8th, 2024, MMV and Zhenghe entered into an agreement
whereby Zhenghe agreed to waive the interest payment. As of
November 10th, 2024, the price of Bitcoin was $80,600 per
Bitcoin.
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/.
For investor and media inquiries, please contact:
MultiMetaVerse Holdings LimitedInvestor RelationsE-mail:
ir@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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