World's First Hybrid NFT Company To Be Listed In The United States - Bonanza Goldfields Corp Enters Into A Memorandum of Understanding To Acquire Hybrid NFT Firm Marvion™ media Limited
On September 18, 2021, Bonanza Goldfields Corp (OTC: BONZ) announced its memorandum of understanding (MOU) to acquire Marvion Media Limited, a metaverse blockchain technology firm specializing in Hybrid NFTs. This acquisition aims to enhance media and entertainment IP via blockchain, providing full KYC processes for NFT authenticity. Upon completion, BONZ will rebrand as Marvion Media Limited, becoming the first h-NFT company listed in the U.S. This strategic move is expected to boost retail investor access to blockchain technologies and diversify NFT-related investments.
- Acquisition of Marvion Media enhances Bonanza's portfolio in the rapidly growing NFT space.
- Becoming the first h-NFT company listed in the U.S. could attract significant investor interest.
- The implementation of KYC for NFTs may improve market perception and trust.
- Concerns about integration challenges between Bonanza and Marvion's business operations.
- NFT market volatility may expose Bonanza to financial risks.
SINGAPORE, Sept. 18, 2021 /PRNewswire/ -- Bonanza Goldfields Corp (OTC: BONZ) is pleased to announce that it has signed a MOU to acquire
Marvion™ Media Limited 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.
Commenting on the business model, Julian So, interim CEO of Marvion™ Media Limited said, "Marvion™ is focused on addressing one of the key concerns facing NFT owners - intellectual property (IP) ownership. Many NFT investors we have engaged with are unaware that as an NFT owner, they do not own the underlying IP associated with the art work within the NFT smart contract. The IP actually continues to reside with the artist. What this means is that NFT owners have no right to take legal action against IP infringements. This is a critical issue that Marvion™ hopes to address through the Hybrid NFTs. This will disrupt the media and entertainment industry."
Each h-NFT contains the following: (1) sales and purchase agreement for the purchase of the license, (2) evidence or representation of ownership of intellectual property, (3) transfer deed for the transfer of the relevant portion of the license to the h-NFT holder, (4) ownership title (to the licensing rights) written into the description and (5) the intangible asset.
With respect to the acquisition, Bonanza Goldfields Corp (BONZ), a company publicly traded in the OTC Markets, will eventually own
Sharing his views on the acquisition, So commented, "We are very excited at this latest development. The growth of NFT has been skyrocketing in the last few months and we have seen very keen interest in what we are doing. I understand that some stakeholders and investors have some reservations, especially when NFT is such a new business model. To help address this, the company wanted to be listed in order to instil a high level of transparency and governance in this nascent industry."
To keep up to date on the upcoming Hybrid NFT™️ projects, please visit www.Marvion.Media or join the Marvion™ Community on Telegram; https://t.me/Marvion_Media.
About Bonanza Goldfields Corp
Bonanza Goldfields Corp (OTC: Bonz) was formerly a mineral exploration company based in Las Vegas, United States. The company primary business was to explore for gold and silver in properties located in the Goldfield, Tonopah and Comstock Mining Districts of Nevada, and the Chloride Mining District of Arizona.
About Marvion™ Media Limited
Marvion™ Media Limited 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™ Media Limited:
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: www.t.me/marvion_media
About Hybrid NFT (h-NFT)
A h-NFT is an integrated, best in class, smart contract that can execute a transaction and also contains the specific legal terms of the intellectual property ownership and license. Each Hybrid NFT (h-NFT) contains the following:
- 1. SPA for the purchase of the license.
- 2. Evidence of ownership of intellectual property.
- 3. Transfer Deed for the transfer of the relevant portion of the license to the h-NFT holder.
- 4. Ownership title (to the licensing rights) written into the description.
- 5. Image/video/music file depending on what the asset is.
Contact: Parkson Yip, Investor Relationship Director, +852-28398100, Media@Marvion.Media
View original content:SOURCE Bonanza Goldfields Corp.
FAQ
What is the significance of Bonanza Goldfields Corp's MOU with Marvion Media Limited?
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