Lion Announces Launch of NFT Marketplace - Meta World
Lion Group Holding Ltd. (NASDAQ: LGHL) announced the launch of its NFT marketplace, Meta World, through its subsidiary Lion NFT Limited. Scheduled for release this month, Meta World aims to become a leading cross-chain NFT platform, facilitating global digital asset trading. Lion NFT holds relevant licenses, ensuring compliance and operational capabilities. CEO Wang Chunning emphasizes the growth potential of the NFT market across various sectors, suggesting comprehensive plans to innovate in digital assets and engage with top artists and institutions.
- Launch of Meta World NFT marketplace indicates expansion into the lucrative NFT sector.
- Lion NFT has necessary licenses for global digital asset operations, enhancing credibility.
- CEO's vision of collaborating with top artists and institutions may boost brand value.
- Dependence on the volatile NFT market poses risks for sustainable revenue.
- There may be challenges in capturing market share against established NFT platforms.
HONG KONG, July 23, 2021 /PRNewswire/ -- Lion Group Holding Ltd. ("Lion" or "the Company") (NASDAQ: LGHL), today announced its subsidiary Lion NFT Limited ("Lion NFT") will launch its own non-fungible token ("NFT") market platform, known as Meta World (https://lionnft.io), available online this month.
Lion NFT is registered in the British Virgin Islands, primarily focused on investment and innovation in digital assets. Its parent company holds an MSB license through the U.S. Treasury Department's Financial Crime Enforcement Agency (FinCEN) and an encrypted commodity operating license through the Dubai Multi Commodity Center (DMCC). With these resources, Lion NFT can provide services such as digital asset exchange, NFT innovation, issuance and trading on a global scale under supervision.
Meta World aims to become the world's top one-stop, cross-chain, high-expansion NFT marketplace, allowing users to connect and trade with digital currency and a digital wallet linked to its platform, accessible upon login. From exploration and creation to pricing, buying and selling, the new platform establishes a comprehensive industry chain that uses blockchain to encrypt artworks such as photographs, videos, audios and 3D pieces, as well as other relevant information to generate NFTs. Meta World will promote the value circulation of global resources and build the foundation for an efficient digital world. NFTs make digital works of art that were originally illiquid available to the public as valuable and investable digital collections. Through the launch and implementation of additional NFT applications, Meta World will become a key cornerstone for digital transformation in various industries.
"As the global encryption economy develops rapidly, Lion is pleased to capture this trend by establishing Meta World. With this milestone, we hope to accelerate our deployment in related fields such as digital economy, NFTs and metaverse, relying on our existing multi-faceted resources," said Mr. Wang Chunning (Wilson), Chief Executive Officer of Lion. "We observed the rapid growth of the NFT field and expansion beyond the initial games and artworks to music, sports, film and television, ticketing, digital identity and other areas. The NFT industry has expanded and extended beyond its original scope, permeating multiple areas of life and bringing aspects of the real world into the digital world. Lion will leverage its advantages to gather the world's top artists and sports stars, as well as a variety of innovative products, and will cooperate with the world's top-tier museums, art galleries, auction houses and other related spaces to accelerate our footprint into this industry. Based on the maturity of blockchain and other technological applications, as well as the prominent value of encrypted digital assets, we believe the market prospects of the NFT field will be unlimited. Lion's deployment into the NFT industry ecology lays a solid foundation for our next steps to enter the metaverse field."
About Lion
Lion Group Holding Ltd. (Nasdaq: LGHL) operates an all-in one, state-of-the-art trading platform that offers a wide spectrum of products and services, including (i) total return swap (TRS) trading, (ii) contract-for-difference (CFD) trading, (iii) insurance brokerage, and (iv) futures and securities brokerage. Additionally, Lion has developed a professional, experienced SPAC sponsorship team to help guide private companies through their listing journey while creating value for Lion and its shareholders. Lion is also committed to building the world's leading one-stop, cross-chain, high-expansion non-fungible token (NFT) marketplace and entering the metaverse space through blockchain technology. Additional information about the company may be found at http://ir.liongrouphl.com.
Forward-Looking Statements
This press release contains, "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Lion's actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Lion's expectations with respect to future performance and anticipated financial impacts of the Business combination, the satisfaction of the closing conditions to the business combination and the timing of the completion of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of Lion and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to maintain the listing of the post-acquisition company's ADSs on NASDAQ following the business combination; (2) the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the transactions described herein; (3) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably and retain its key employees; (4) costs related to the business combination; (5) changes in applicable laws or regulations; (6) the possibility that Lion may be adversely affected by other economic, business, and/or competitive factors; and (7) other risks and uncertainties to be identified in the proxy statement/prospectus relating to the business combination, including those under "Risk Factors" therein, and in other filings with the Securities and Exchange Commission ("SEC") made by Lion. Lion cautions that the foregoing list of factors is not exclusive. Lion cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Lion does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law.
Contacts
Lion Group Holding
Tel: +852 2820 9011
Email: ir@liongrouphl.com
ICR, LLC
William Zima
Tel: +1 203 682 8233
Email: ir@liongrouphl.com
View original content:https://www.prnewswire.com/news-releases/lion-announces-launch-of-nft-marketplace--meta-world-301340071.html
SOURCE Lion Group Holding Ltd.
FAQ
What is the purpose of the Meta World NFT marketplace launched by LGHL?
When is the Meta World NFT platform scheduled to launch?
What licenses does Lion NFT hold to operate its marketplace?
What potential markets does Lion Group foresee for NFTs?
What is the stock symbol for Lion Group Holding Ltd.?
