Marvion Launches Digital Ownership Tokens (DOTs) for Legally Enforceable Tokenized Asset Ownership

Rhea-AI Summary

On April 17, 2023, Bonanza Goldfields Corp. (OTC:BONZ) announced through its subsidiary Marvion the launch of Digital Ownership Tokens (DOTs). Designed for legally enforceable ownership of tokenized assets, DOTs will enable tokenization of various real-world assets, including property and art.

Marvion's platform utilizes blockchain technology, favoring the Polygon chain for its efficiency. The tokens provide ownership security and transparency, with smart contracts facilitating automated transactions. This innovation positions Marvion as a leader in the digital asset economy, providing significant opportunities for investors and asset owners.

Positive

• Launch of Digital Ownership Tokens (DOTs) for legally enforceable asset ownership.
• Utilization of blockchain technology enhances trust and transparency in transactions.
• Smart contract integration streamlines asset transfers and payments.

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• None.

SINGAPORE, April 17, 2023 /PRNewswire/ -- Marvion, a leading provider of blockchain-based solutions and a fully owned subsidiary of Bonanza Goldfields Corp. (OTC:BONZ), today announced the launch of its latest innovation - the creation of Digital Ownership Tokens (DOTs). DOTs are designed to provide legally enforceable ownership of tokenized assets, enabling the tokenization of real-world assets such as property, art, or commodities.

Marvion's platform leverages blockchain technology to create digital tokens that represent ownership rights to underlying assets. With DOTs, Marvion provides a level of trust, transparency, and security that was previously unavailable in the digital asset economy.

Although Marvion is blockchain agnostic, the company prefers to use the Polygon chain for its fast, cheap, and environmentally friendly transactions. Additionally, Marvion utilizes Arweave for data storage, offering up to 200 years of assurance for stored data.

"Tokenization is a game-changing innovation that is transforming the way assets are owned, traded, and financed. We're proud to offer DOTs as a way to provide legally enforceable ownership of tokenized assets," said Raymond Chua, CEO of Marvion. "Although we've been offering our tokenization capabilities for some time, we are emphasizing the launch of DOTs in response to recent news about tokenization."

With its proprietary platform, Marvion is providing a secure and transparent way to transfer ownership of tokenized assets, with clear ownership records and streamlined transaction processes. The platform integrates with smart contracts, allowing for the automatic execution of asset transfers, payments, and other transactions.

Marvion's solutions are applicable to a wide range of asset classes, including real estate, art, commodities, and more. The launch of DOTs opens up new opportunities for investors, asset owners, and the broader digital asset ecosystem.

For more information on Marvion's tokenization capabilities and DOTs, please visit www.marvion.media.

For media queries, please contact:

Media@Marvion.Media

About BONZ

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.

About Marvion™️

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™️:

Website:          www.marvion.media

Facebook:        www.facebook.com/marvionmetaverse

Instagram:       www.instagram.com/marvion.media

Twitter:  www.twitter.com/marvion_media

LinkedIn:    www.linkedin.com/company/marvion

Telegram:  https://t.me/c/1714353647

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.

View original content:https://www.prnewswire.com/news-releases/marvion-launches-digital-ownership-tokens-dots-for-legally-enforceable-tokenized-asset-ownership-301798820.html

SOURCE Bonanza Goldfields Corp.

FAQ

What are Digital Ownership Tokens (DOTs) launched by BONZ?

Digital Ownership Tokens (DOTs) are designed to provide legally enforceable ownership of tokenized assets, such as property or art.

When did Bonanza Goldfields Corp. announce the launch of DOTs?

The launch of Digital Ownership Tokens (DOTs) was announced on April 17, 2023.

Which blockchain technology does BONZ prefer for its DOTs?

Bonanza Goldfields Corp.'s subsidiary Marvion prefers to use the Polygon chain for its Digital Ownership Tokens.

How do DOTs improve asset transactions?

DOTs offer enhanced trust, transparency, and security, with smart contracts allowing for automated execution of asset transfers.

What types of assets can be tokenized using DOTs?

DOTs can be used for tokenizing a wide range of assets including real estate, art, and commodities.