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INTEGRATED MEDIA TECHNOLOGY LIMITED ANNOUNCES PRODUCTION OF UNIQUE MANDALA ART USING AI

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Integrated Media Technology Limited (NASDAQ: IMTE) has announced that its subsidiary Ace Corporation Limited has secured licenses from IQI Media Inc for original Mandala Art. This unique hand-painted art, known for its intricate geometric patterns, is associated with art therapy for mental wellness. IMTE aims to leverage AI technology to produce unique artworks efficiently. This strategic move will introduce a new line of AI-assisted NFTs on their Ouction platform, marking a significant development in the company's AI-enhanced production capabilities.

Positive
  • Secured licenses for original Mandala Art, enhancing product offerings.
  • Strategic use of AI technology for efficient production of unique artworks.
  • Introduction of AI-assisted NFTs on the Ouction platform.
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SYDNEY and NEW YORK, April 19, 2022 /PRNewswire/ -- Integrated Media Technology Limited (NASDAQ: IMTE) ("IMTE" or the "Company"), announces today that the Company's subsidiary Ace Corporation Limited ("Ace") has received from our strategic partner, IQI Media Inc, a number of licenses for original artworks of Mandala Art, an intricate hand-painted craft that is translated as 'sacred circle' in ancient Sanskrit. The distinctive geometric patterns of drawings with professional therapists can help improve concentration and ventilate inner emotions; academically this is seen as a means of 'art therapy' for mental illness. Ouction's development team will use artificial intelligence technology (deep-learning, etc.) to enhance the quality and create the quantity of unique multiple work production from the original licensed Mandala works. This is an important strategic development in AI-enhanced production of unique works.

Mandala in Hindu and Buddhist tantrism, a symbolic diagram used in the performance of sacred rites and as an instrument of meditation. The mandala is basically a representation of the universe, a consecrated area that serves as a receptacle of the gods and as a collection point of universal forces. A mandala is a geometric configuration of symbols, generally represents the spiritual journey, starting from outside to the inner core, through layers. This would be a new line of AI assisted NFT that we would create for our Ouction platform. 

About Integrated Media Technology Limited ("IMTE")

IMTE is an Australian company engaged in the business of manufacture and sale of nano coated plates for filters, the manufacture and sale of electronic glass, Halal certification and distribution of Halal products, the operating of an online exchange platform for trading in digital assets and the provision of financial research. For more information, please visit www.imtechltd.com.

Safe Harbor Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding IMTE's expectations, intentions, strategies, and beliefs pertaining to future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements because of various important factors, including those described in the Company's most recent filings with the SEC. IMTE assumes no obligation to update publicly any such forward-looking statements, whether because of new information, future events or otherwise. For a more complete description of the risks that could cause our actual results to differ from our current expectations, please see the section entitled "Risk Factors" in IMTE's annual reports on Form 20-F and interim reports on Form 6-K filed with the SEC, as such factors may be updated from time to time in IMTE's periodic filings with the SEC, which are accessible on the SEC's website and at http://www.imtechltd.com.

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SOURCE Integrated Media Technology Limited

FAQ

What recent announcement did Integrated Media Technology Limited make regarding Mandala Art?

Integrated Media Technology Limited announced that its subsidiary has received licenses for original Mandala Art from IQI Media Inc to enhance its product offerings.

How is Integrated Media Technology Limited planning to use AI in their recent project?

The company plans to utilize AI technology to improve the production quality and quantity of unique Mandala artworks.

What is the significance of the Mandala Art project for Integrated Media Technology Limited?

The Mandala Art project represents a strategic development in AI-enhanced production capabilities, aiming to introduce AI-assisted NFTs on their Ouction platform.

What stock symbol is associated with Integrated Media Technology Limited?

The stock symbol for Integrated Media Technology Limited is IMTE.

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