US miner Bonanza acquires hybrid NFT producer Marvion
The acquisition was announced on 25 October but had already been completed
Over-the-counter stock trading miner Bonanza Goldfields Corp has announced its acquisition of 100% of Marvion Holdings Limited, a US blockchain technology company pioneering hybrid non-fungible tokens (h-NFTs).
Marvion, which alongside Phoenix Waters Productions and AMM Global recently minted hybrid NFTs from the film Lockdown, said it is now planning to launch music, books, games and comics h-NFTs.
The international thriller, Asia's first NFT feature film, featured a global cast including Xander Berkeley from The Walking Dead and Hong Kong actress Anita Chui from OCTB.
The film is slated to premiere in November 2021, after the recent release of five limited-edition h-NFTs that preceded the traditional release of the film. NFT tickets were also made available for the public to attend both the Hong Kong and UK premieres of the film.
“The h-NFTs were for tickets to the gala Lockdown premiere in London and were snapped up almost instantly after the drop and I understand that the gala event was very well attended. All in all, it is a very encouraging result,” said Herbert Lee, founder and chair of Marvion.
The acquisition was announced on 25 October, but was actually completed on 18 October. According to the conditions, Marvion will be renamed Marvion Inc.
Commenting on the completion, Herbert Lee, now the majority shareholder of BONZ, said: “With the completion of this corporate activity, we can now focus on the continued rapid development of the company and I am looking forward to the many exciting projects in the pipeline.”
Julian So, interim CEO of Marvion, commented: “Marvion’s vision is to offer the ultimate community engagement, leveraging the best tools in both the digital metaverse and physical experience realms. Having successfully launched our h-NFT for movies, we are working very hard to implement our h-NFTs to other forms of entertainment, such as music, books, comics and games."
Marvion aims to bridge the gap between virtual and physical realms, driving user engagement and making hybrid non-fungible tokens accessible to audiences everywhere without limiting their usage to crypto communities. It is also looking to solve the main issues associated with NFTs.
H-NFT owners may benefit from a real-world intangible asset that is unique, in form of collectables, as well as from invites to actual events or private movie streamings (for example).
Unlike NFTs that may only be bought with cryptocurrency, hybrid non-fungible tokens will, in the future, be purchased with both blockchain and with fiat currency. The company’s goal is to open its hybrid NFT platform to a more diverse audience pool, without the need to access crypto wallets.
Marvion did not immediately respond to a request for comment.