BEIJING, Could 25, 2021 /PRNewswire/ — Glory Star New Media Group Holdings Restricted (NASDAQ: ) (“Glory Star” or the “Firm”), a number one digital media platform and content-driven e-commerce firm in China, at the moment introduced the graduation of the industrial purposes of its blockchain and non-fungible token (“NFT”) applied sciences via its digital copyright administration platform (the “Platform”). The Platform will permit Glory Star to additional discover enterprise alternatives in NFT property as potential new development drivers for the Firm.
Curiosity in NFTs derived from blockchain know-how is rising quickly. In response to the most recent information from nonfungible.com, the worth of all the NFT market has grown from lower than $41 million three years in the past to $338 million on the finish of 2020, representing a rise of 724%. Moreover, with the event of the digital world financial system, manufacturing, operation, consumption, leisure, and existence are quickly present process a digital transformation. This has led to information turning into one of the vital essential property on this new digital financial system. Consequently, new challenges in information authentication and authorization have additionally change into essential points to contemplate, and blockchain know-how may play a major position in assuaging these challenges.
Glory Star’s Platform has been put to make use of within the Firm’s copyright administration system for its CHEERS video platform in addition to the SaaS, point-redemption, and live-event modules for its CHEERS e-Mall. The Firm’s Platform leverages cutting-edge applied sciences comparable to blockchain, large information, and synthetic intelligence to retailer the important thing information for digital mental property (“IP”) in a blockchain database. The immutability, traceability, scalability, and transparency of blockchain know-how allows the Firm’s database to confirm the integrity and safety of those property via all registration, search, and different processes. This ensures the credibility of the digital IP and the traceability of person operations to make sure a reliable and authoritative copyright platform.
Moreover, the Firm’s Platform presents efficient instruments for customers to streamline copyright validation, storage, safety, and different transactional processes for digital property to safeguard towards copyright infringement. It additionally gives efficient options for trade challenges in copyright verification, monitoring, and proof assortment. The Platform additionally gives digital asset blockchain certificates to validate copyright, deploys a digital-asset DNA database for cross-checking info and producing verification stories to observe copyright, and leverages blockchain know-how to allow the gathering of possession information, affirm the digital asset’s possession on-line, and execute copyright transactions to generate funds by buying and selling asset-backed securities via the blockchain. As beforehand introduced, the Firm has signed a cooperation settlement with Beijing Minsheng Artwork Museum to advertise the applying of NFT applied sciences for digital content material. Each events plan to additional discover the feasibility of minting joint NFT property and taking part within the buying and selling of NFT paintings and different collectible digital property. As well as, Glory Star will combine a brand new class of cultural and artwork collectibles on the Firm’s CHEERS e-Mall platform, which is able to present a lift to the circulation and promotion of Chinese language paintings and additional enhance the content material ecology on CHEERS purposes.
Mr. Bing Zhang, Founder and Chief Government Officer of Glory Star, commented, “As an innovator within the leisure trade, we have now all the time actively monitored the digital growth of tradition, media, and know-how with nice curiosity. Our dedication to R&D and funding in new know-how has all the time been important to our technique to combine our product ecosystem with the brand new digital financial system. We’re assured that such efforts will improve the competitiveness of our merchandise and fortify our trade management. Going ahead, new purposes for blockchain know-how shall be an essential focus for us to advertise speedy development not just for Glory Star however for all the digital content material trade as nicely.”
About Glory Star New Media Group Holdings Restricted
Glory Star New Media Group Holdings Restricted is a number one digital media platform and content-driven e-commerce firm in China. Glory Star’s means to combine premium life-style content material, together with quick movies, on-line selection reveals, on-line dramas, stay streaming, its Cheers life-style video collection, e-Mall, and cell app, together with revolutionary e-commerce choices on its platform allows it to pursue its mission of enriching folks’s lives. The Firm’s giant and energetic person base creates worthwhile engagement alternatives with shoppers and enhances platform stickiness with 1000’s of home and worldwide manufacturers.
Secure Harbor Assertion
Sure statements made on this launch are “ahead trying statements” throughout the which means of the “secure harbor” provisions of america Non-public Securities Litigation Reform Act of 1995. When used on this press launch, the phrases “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “could,” “will,” “ought to,” “future,” “suggest” and variations of those phrases or comparable expressions (or the unfavourable variations of such phrases or expressions) are meant to determine forward-looking statements. Such forward-looking states embody, however will not be restricted to, the Firm’s means to develop its on-line retail and SaaS trade worth chains, develop its enterprise relationship with current shoppers and proceed its enterprise development trajectory. These forward-looking statements will not be ensures of future efficiency, situations or outcomes, and contain quite a few identified and unknown dangers, uncertainties, assumptions and different essential elements, lots of that are exterior the Firm’s management, that would trigger precise outcomes or outcomes to vary materially from these mentioned within the forward-looking statements. Necessary elements, amongst others, are: the flexibility to handle development; means to determine and combine different future acquisitions; means to acquire further financing sooner or later to fund capital expenditures; fluctuations basically financial and enterprise situations; prices or different elements adversely affecting the Firm’s profitability; litigation involving patents, mental property, and different issues; potential adjustments within the legislative and regulatory surroundings; a pandemic or epidemic. The forward-looking statements contained on this launch are additionally topic to different dangers and uncertainties, together with these extra absolutely described within the Firm’s filings with the Securities and Trade Fee. The Firm undertakes no obligation to replace or revise any forward-looking statements, whether or not on account of new info, future occasions or in any other case, besides as required by relevant regulation. Such info speaks solely as of the date of this launch.
Glory Star New Media Group Holdings Restricted
Tel: +1 (646) 308-0546
SOURCE Glory Star New Media Group Holdings Restricted