Marvion™️ Signs Memorandum of Understanding with Euro Amazing Limited for Movie Adaptation Rights in an Aggregate Value of US$50million

Rhea-AI Summary

Bonanza Goldfields Corp. (OTC:BONZ) has signed a Memorandum of Understanding (MOU) with Euro Amazing Limited to acquire up to 10 licenses for each of 10 types of adaptation rights, covering a portfolio of 100 movies. The total value of these licenses is estimated at US$50 million. This move aligns with Marvion™️'s strategy to establish a significant presence in the media and entertainment sector through the development of Hybrid NFTs™️, aiming to simplify the trading of intellectual property rights.

Positive

• Secured MOU with Euro Amazing Limited for 10,000 licenses valued at US$50 million.
• Aiming to create a robust portfolio in media and entertainment industry.
• Strategic initiative to disrupt the industry with Hybrid NFTs™, enhancing market appeal.

Negative

• None.

SINGAPORE, Feb. 14, 2022 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC:BONZ) is pleased to announce that Marvion™️ has inked a Memorandum of Understanding (MOU) with Euro Amazing Limited. The agreement allows Marvion™️ to acquire up to 10 licences for each of 10 types of adaptation rights with respect to a portfolio of 100 movies from Euro Amazing Limited. The value of these 10,000 licences will have an aggregated value of US$50million.

The accumulation of a large portfolio of intellectual property rights and licences in the media and entertainment industry is one of the focus of Marvion™️ in 2022 as it aspires to become the largest global marketplace for Hybrid NFTs™️ that are the digital ownership titles (DOTs) to media and entertainment intellectual property rights and licences.

Commenting on the partnership with Euro Amazing Limited, Julian So, Vice Chairman of Marvion™️ said, "We are constantly seeking meaningful partnerships with industry heavyweights to add value to the media and entertainment scene and we are very happy that our goals are aligned with Euro Amazing Limited, which we hope will be the first of many such partnerships. We aim to disrupt the media and entertainment industry by minting movie and other media remake and other rights and licenses into hybrid-NFTs, creating a simple and convenient method for industry players to easily access and trade such licences in a central location, the Marvion MetaStudio."

About BONZ

The Bonanza Goldfields Corporation is developing business initiatives joining the latest blockchain technologies, through market merger and acquisitions to develop advanced media distribution solutions.

About Marvion™️

Marvion™️ is a metaverse blockchain technology company, unlocking, enhancing and preserving the value of media and entertainment intellectual property through blockchain and related technologies to create Hybrid NFTs™️. The company's vision is to offer the ultimate artist and fan engagement, leveraging technology in both digital metaverse and physical experience realms.  Marvion™️ will be adopting their Hybrid NFT™️ (h-NFT) format across all minted NFTs. The h-NFTs will undergo full know-your-client (KYC) and verification processes prior to Marvion™️ acquiring the intellectual property. This is to ensure that only authentic and high quality NFTs are available on the platform.

More Information about Marvion™️:

Website: marvion.media  
Facebook: facebook.com/marvionmetaverse
Instagram: instagram.com/marvion.media
Twitter: twitter.com/marvion_media
LinkedIn: linkedin.com/company/marvion
Telegram: t.me/marvion_media

About Hybrid NFT™ (h-NFT)

A h-NFT is an integrated, best in class, digital ownership title (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 Hybrid NFT™️ (h-NFT) 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 h-NFT holder.
• Image/video/music or other file depending on what the asset is.

For media queries, please contact:

Parkson Yip
Marketing and PR Team
Media@Marvion.Media 

View original content:https://www.prnewswire.com/news-releases/marvion-signs-memorandum-of-understanding-with-euro-amazing-limited-for-movie-adaptation-rights-in-an-aggregate-value-of-us50million-301481272.html

SOURCE Bonanza Goldfields Corp.

FAQ

What is the value of the licenses acquired by Bonanza Goldfields Corp. in the MOU with Euro Amazing Limited?

The total value of the licenses is estimated at US$50 million.

How many licenses will Bonanza Goldfields Corp. acquire from Euro Amazing Limited?

Bonanza Goldfields Corp. will acquire up to 10 licenses for each of 10 types of adaptation rights.

What is Marvion™️'s goal in the media and entertainment industry?

Marvion™️ aims to become the largest global marketplace for Hybrid NFTs™️, simplifying the access and trading of media rights.

When was the MOU between Bonanza Goldfields Corp. and Euro Amazing Limited signed?

The MOU was signed on February 14, 2022.

What is the focus of Marvion™️ in 2022?

Marvion™️ focuses on acquiring a large portfolio of intellectual property rights and licenses in the media and entertainment industry.