SINGAPORE, Dec. 29, 2022 /PRNewswire/ — Metaverse blockchain company Marvion, a fully owned subsidiary of Bonanza Goldfields Corp. (OTC:BONZ), is pleased to round up the year 2022 with several key partnerships in place and its core focus on its proprietary products and services, namely Marvion Metaverse, Marvion Metastudio and its Brand Activation Campaigns.
2022 was a foundation year for Marvion as it had its first full year of operations. The business saw steady revenue growth for its sale of media and entertainment digital ownership tokens, and success in securing key partnerships in the media and entertainment industry. Notably, the Marvion Metastudio saw a sellout of 2,000 “Forensic Psychologist” DOTs on its platform, and committed to invest for DOT rights to an upcoming zombie action thriller “Chungking Mansions” by Phoenix Waters Productions. The film is touted to be the biggest zombie film to be shot in Hong Kong with an estimated production budget 8-figure US Dollar sum. In terms of expanding its media and entertainment assets, Marvion also successfully acquired 20 movie remake licenses from Euro Amazing Limited which will allow Marvion to own the associated licensing, sub-licensing rights in whole or in part, as well as associated territorial rights to mint 10 digital ownership tokens (DOTs) per category for 10 categories of adaptation rights derived from each movie, which will bring immense potential for its DOT offerings.
According to a report in June 2022 by consulting firm McKinsey, the metaverse is worth US$5trillion by 20301. As a company heavily involved in the metaverse and virtual realms, Marvion has dedicated resources to its technology arm this year and has successfully built the Marvion Metaverse. Apart from a strong online presence, Marvion also co-organised the inaugural in-person Web 5.0 Conference in Singapore where it focused on real life applications and ownership in the centralised web 2.0 and decentralised 3.0 ecosystems. The conference delegation consist of guests who flew in from the US, Europe and Asia and overall, it set the stage for quality, in-depth discussions on the untapped potential of the Web 2.0 and 3.0 space. As a result from the conference, Marvion has inked strategic partnerships with firms like Next Level Ventures and 8SIAN to help these businesses capitalise on the fast growing Web 3.0 market. Marvion is also privileged to be partnering many prestigious organisations such as the Hong Kong listed China Information Technology Development Limited (8178: HK), Hong Kong University, and ComicAsia, amongst many others for our metaverse offerings.
Looking ahead in 2023, Raymond Chua, Chief Executive Officer of Marvion says, “2023 will be another exciting year as we look to boost and enhance our AI, smart contracts, and IP capabilities within our product offerings. Ultimately, we aim to strengthen and capitalise on the opportunities that lie in evolving areas that we are already operating in. I would also like to thank our many partners for their trust and collaboration and look forward to continued engagement and success in the coming year.”
For more information on Marvion and its metaverse offerings, please visit www.marvion.media.
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Bonanza Goldfields Corporation is a Nevada holding company that through its subsidiaries are engaged in the media distribution business. Specifically, we provide authentication, valuation and certification (“AVC”) service, sale and purchase, hire purchase, financing, custody, security and exhibition (“CSE”) services to buyers of movie and music media through traditional channels as well as through leveraging blockchain technology through the creation of digital ownership tokens (“DOTs”).
The group is building an ecosystem and a metaverse for the media and entertainment industry that implements and adopts blockchain and NFT technologies, through mergers and acquisitions.
Marvion is a global company headquartered in Singapore. It is one of the first public-listed Web 3.0 group with market-leading technologies and ecosystem that aims to be the driver behind the world’s transition into Web 3.0. We offer services, access and content and provide the necessary tools for creators to create unique content in the Web 3.0.
More Information about Marvion™️:
About Marvion’s DOT
Marvion’s DOTs are integrated, best in class, digital ownership token (DOT) that contains a smart contract that can execute transactions and also contains the specific legal terms of the intellectual property ownership, license and/or rights. Each DOT contains the following:
- A copy of the SPA for the purchase of the master license.
- Evidence or warranty of ownership of the relevant intellectual property.
- Ownership of the sub-license detailing the rights of the DOT holder.
- Image/video/music or other file depending on what the asset is.
1. Value creation in the metaverse June 2022 report. Published by McKinsey & Company. https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/value-creation-in-the-metaverse
SOURCE Bonanza Goldfields Corp.