CHIF Announces Planned Rebranding and Name Change to Championship International Fintech Inc. as Part of Esports Business Direction

Rhea-AI Summary

China Food and Beverage Company (OTC Pink: CHIF) plans to rebrand itself as Championship International Fintech Inc. to enter the Esports and Blockchain sectors. This strategic move aligns with the rapid growth in these markets, with Esports revenue projected to rise from $1 billion in 2021 to $4.28 billion by 2027. The Blockchain services market is also expected to grow significantly, from $2.94 billion in 2021 to $4.65 billion in 2022. CHIF aims to provide technological solutions across these industries while capitalizing on increasing venture capital investments in Esports.

Positive

• Rebranding to Championship International Fintech Inc. aligns with market growth in Esports and Blockchain.
• Esports revenue projected to grow from $1 billion in 2021 to $4.28 billion by 2027.
• Blockchain services market expected to grow from $2.94 billion in 2021 to $4.65 billion in 2022.
• Increased investment interest from venture capitalists in the Esports sector.

Negative

• None.

London, UK, April 04, 2022 (GLOBE NEWSWIRE) -- China Food and Beverage Company (OTC Pink: CHIF), an Esports and Blockchain Consortium Venture company, today announced that it plans to change its name to Championship International Fintech Inc. as part of an overall rebranding of the Company and its business units and entrance into the massive Esports arena. The name change reflects the company's hybrid strategy into the Esports and Blockchain sectors, where both markets are growing very rapidly.

CHIF management believes the timing is right to enter the booming Esports and Blockchain markets. The global Esports market revenue was valued at just over $1 billion in 2021 and is being projected to grow 400% in the next seven years to an estimated $4.28 billion by 2027. As competitive video games continue to integrate into popular culture, global investors, brands, and media outlets are all paying attention. Consumers are as well. In fact, there will be 29.6 million monthly Esports viewers in 2022, up 11.5% from 2021, according to our estimates.

https://www.insiderintelligence.com/insights/esports-ecosystem-market-report/

The global blockchain services market is expected to grow from $2.94 billion in 2021 to $4.65 billion in 2022, at a compound annual growth rate (CAGR) of 58%. 

https://finance.yahoo.com/news/blockchain-services-global-market-report-164000559.html

Mr. Yuen Wong, Chairman of CHIF and Silverbear Capital partner stated, “This is a rebranding process of the Company, as part of our new corporate strategy and we are determined to take the Company to the next level. From our promising research, the industry has seen a huge uptick in investment from venture capitalists, and more recently from private equity firms. The number of investments in Esports doubled in 2018, going from 34 in 2017 to 68 in 2018, as per Deloitte. That is reflected in the total dollars invested also. Investments are up to $4.5 billion in 2018 from just $490 million the year before, a staggering YoY growth rate of 837%, as per Deloitte. These investments are distributed to players across the Ecosystem, from Esports organizations, to tournament operators, to digital broadcasters, allowing it to function and grow.”

Jeff Au, CEO of CHIF and Silverbear Capital partner stated, "We are also positioning ourselves into the Blockchain business combining, the GameFi and Esports model, which is unique in this market. We believe the joint chemistry of Esports and Blockchain strategy will be the first of its kind in the market space.

Last month, CHIF announced the appointment of Bitmart Cryptocurrency Exchange https://www.bitmart.com Managing Partner, Mr. Yuen Wong, as the Company’s Chairman of the Board of Directors effective immediately. BitMart is a premier global digital asset trading platform with over 5.5 million users worldwide and ranked among the top crypto exchanges according to CoinGecko. BitMart currently offers 600+ trading pairs with one of the lowest trading fees in the market. Bitmart's platform supports over 220 cryptocurrencies and has a 24-hour trading volume of approximately $1.5 Billion according to coinmarketcap.com https://coinmarketcap.com/exchanges/bitmart/.

As a tech-savvy blockchain enthusiast, Mr. Wong also acts as an advisor to many successful blockchain projects. He is the CEO of LABS Group Limited https://labsgroup.io , the world's first end to end Blockchain powered real estate digital investment platform that provides access to fractionalized property and business ownership. LABS is taking a proactive role in spearheading the Esports hotel business, and capitalizing on the current GameFi and Metaverse trend.

Mr. Wong also works as a strategic partner with Arena Esports Hotel www.arenaesportshotel.com, and has assisted by tokenizing the properties and offering them on LABS crowdfunding platform. The first project is located at Bugis Village, Singapore, which is the largest Esports hotel in Southeast Asia and the world’s first hotel with VR concepts. The plan is to expand to 50 locations through the partnership and franchise model in 3-5 years and reach over 2,733,000 people in-residence. Arena Esports Hotel is currently expanding in Southeast Asia, targeting Cambodia, Malaysia and Vietnam.

Mr. Wong currently serves as a co-founder GEMS  https://thegems.gg/GEMS , an Esports 3.0 aggregator platform within the online and offline communities. It propels Esports into 3.0 by integrating GameFi, Mataverse and SocialFi elements, and leverages on Arena Esports Hotels, in order to integrate the young population into the new sharing economy.

Silverbear Capital Inc. https://www.sbcfinancialgroup.com.hk/, a leading, global investment banking and advisory firm, will be advising NSAV on strategic matters related to this transaction.

Silverbear Capital Inc. (SBC) has a dynamic of disciplines on a broad commercial level and practice. SBC has a strong group of Partners in a wide range of disciplines with seasoned experience in finance, management, and professional practice. https://www.sbcfinancialgroup.com.hk/meet-our-team/.

Disclaimer: Silverbear Capital Inc. does not constitute investment advice, or an offer or solicitation to sell, or a solicitation to buy, or any other investment product (nor shall any such shares or product be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction.

CHIF’s vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the Esport, Cryptocurrency, Blockchain and Digital Asset industries. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, advisory services, financial services and information technology.

For further information, please contact CHIF at info@chiftech.com

The CHIF Twitter account can be accessed at https://twitter.com/chif_tech

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of China Food and Beverage Company to accomplish its stated plan of business. China Food and Beverage Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by China Food and Beverage Company or any other person.

Contact
China Food and Beverage Company
info@chiftech.com  

FAQ

What is the new name for China Food and Beverage Company (CHIF)?

China Food and Beverage Company plans to rebrand as Championship International Fintech Inc.

What markets is CHIF entering with its rebranding?

CHIF is entering the rapidly growing Esports and Blockchain markets.

What are the projected revenues for the Esports market by 2027?

The Esports market is projected to grow to $4.28 billion by 2027.

How much is the Blockchain services market expected to grow in 2022?

The Blockchain services market is expected to grow from $2.94 billion in 2021 to $4.65 billion in 2022.

What is the significance of the rebranding for CHIF?

The rebranding reflects CHIF's strategy to capitalize on growth in the Esports and Blockchain sectors.