Hong Kong, China -- November 09, 2017 -- InvestorsHub NewsWire
-- Weyland Tech, Inc. (OTCQX: WEYL) ("Weyland" or "Company"), a
provider of mobile business applications, announced today that its
joint venture discussions with FuntaseSports Entertainment
("Funtase"), a leading provider of eSports content and fantasy
sports games in South Korea, are making significant progress and
the companies have reached terms for cooperation.
"As I've said recently, eSports is an exciting growing part of
the digital economy that presents huge opportunities for
Weyland. Esports revenues are expected to
grow to $1.5 Billion in the next three years. Partnering
with Funtase is going to give our CreateApp platform access to a
market that is rapidly growing and barely even existed 10 years
ago," commented Weyland CEO Brent Suen announcing the news.
"The preliminary terms we are finalizing with Funtase, will give
us an early edge in providing the 'picks and shovels' for eSports
related m-commerce consistent with our vision for the CreateApp
platform. In our view the various leagues, teams, and players will
be the SMB's in this marketplace and with limited modifications we
can provide the benefits of CreateApp to them in a similar fashion
to our offerings to SMB's in other markets."
"Funtase has agreed to provide us access to their data on those
market participants as part of a cross platform marketing strategy.
That is a huge win, because we will not need to spend time
identifying all the games, leagues, teams, and players. Instead we
will be able to focus on providing these eSports market
participants with the ability to reach their customers -- fans and
sponsors -- with information and merchandise through the CreateApp
platform. As AtoZPay comes online, we will also be able to provide
a payments platform for those goods and services, generating
additional user revenue."
Funtase's CEO, Jerome Park, commented "Weyland is well
positioned to enter the eSports market as their user base is highly
complementary to eSports with similar demographic profiles. Both of
our companies are focused on a young demographic that is
mobile-native and mobile-first, in a very complementary way."
"The companies are also discussing Weyland's ability to provide
digital payments capabilities for the Funtase platform directly,
which we will provide updates on as progress is made," concluded
Mr. Suen.
Weyland and Funtase are also exploring near term opportunities
for deploying Funtase's platform to Weyland's CreateApp users as a
'white-label' app that enables daily fantasy sports for a new,
younger eSports audience on a gamified platform that will differ
radically from the current draft fantasy sport market
offerings.
Funtase provides gamified daily fantasy draft games for the
mobile and PC platforms in the Asia market based around several of
the world's leading eSports titles. Funtase and Weyland are also in
discussions to provide their offerings for the non-Asia
international markets.
About FuntaseSports Entertainment
Funtase was founded in early 2017 in Seoul, Korea and is made of
games industry veterans from Nexon, Neople, and eBay. The platform
is currently in alpha stage and planning its beta launch in the
summer 2018.
About Weyland Tech Inc.
Weyland Tech's CreateApp platform is focused on the Asia
markets. Our CreateApp platform offered in 12 languages, enables
small and medium sized businesses ("SMB's") to create native mobile
applications ("APP") for Apple's iOS and Google Android without
technical knowledge or background. Empowering SMB's to increase
sales, reach more customers and promote their products and services
via simple easy to build mobile APPs in an affordable and
cost-effective manner.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
Safe Harbor Statement
This release contains certain "forward-looking statements"
relating to the business of the Company. All statements, other than
statements of historical fact included herein are "forward-looking
statements" including statements regarding: the continued growth of
the e-commerce segment and the ability of the Company to continue
its expansion into that segment; the ability of the Company to
attract customers and partners and generate revenues; the ability
of the Company to successfully execute its business plan; the
business strategy, plans, and objectives of the Company; and any
other statements of non-historical information. These
forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions and involve known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks, and uncertainties, and these
expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this news release. The Company's actual
results could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the Company's periodic reports that
are filed with the Securities and Exchange Commission and available
on its website (http://www.sec.gov). All forward-looking statements
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these factors. Other than
as required under the securities laws, the Company does not assume
any duty to update these forward-looking statements.