Lion Establishes Lion NFT Limited, Officially Enters the NFT Field
Lion Group Holding Ltd. (NASDAQ: LGHL) announced the establishment of Lion NFT Limited to enter the NFT industry, focusing on investment and innovation in digital assets. Lion NFT is located in the BVI and plans to provide services such as digital asset exchange and NFT trading globally. The company holds necessary licenses, including an MSB license through FinCEN. The NFT trading platform is expected to launch by the end of May 2021. CEO Wang Chunning highlighted the potential for creativity and use cases in the NFT field, emphasizing a breakthrough in reducing NFT building costs.
- Establishment of Lion NFT Limited to enter the growing NFT market.
- Possession of MSB license and encrypted commodity operating license for regulatory compliance.
- Collaborations with top art galleries and IP resources of well-known artists.
- Dependence on future success and profitability of NFT market, which is highly volatile.
- Potential risks associated with maintaining NASDAQ listing after the business combination.
HONG KONG, May 13, 2021 /PRNewswire/ -- Lion Group Holding Ltd. ("Lion" or "the Company") (NASDAQ: LGHL), operator of an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors, today announced it has established Lion NFT Limited ("Lion NFT") to enter the NFT industry.
Lion NFT is a digital asset company located in the BVI, primarily focused on investment and innovation in digital assets such as non-fungible tokens ("NFTs"). 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). Lion NFT engages the world's top art galleries and museums, as well as IP resources of well-known artists, while working closely with Royal Lion Middle East DMCC, which counts the UAE royal family as an investor. With these resources, Lion NFT can provide services such as digital asset exchange, NFT innovation, issuance and trading on a global scale under supervision. Lion's NFT trading platform is expected to be launched at the end of the month.
"Lion NFT will offer a full range of services to top artists around the world through NFTs with plans to launch related art works at well-known art festivals. Meanwhile, our technical team has made a major breakthrough in reducing the building cost of NFTs," said Mr. Wang Chunning (Wilson), Chief Executive Officer of Lion. "Over the next few years, there will be a large number of use cases for NFTs, which will only be possible through encryption. In time, we expect to see a boost in creativity and experimentation within the NFT field."
About Lion
Lion Group Holding Ltd. (NASDAQ: LGHL) operates an all-in-one trading platform that offers a wide spectrum of products and services with a focus on Chinese investors. Through its state-of-the-art technology, Lion offers contract-for-difference (CFD) trading, insurance brokerage, futures brokerage, and securities brokerage on its platform, which can be accessed through applications available on the iOS, Android, Windows, and macOS systems. Lion's customers are well-educated and affluent Chinese individual investors residing both inside and outside the PRC as well as institutional clients in Hong Kong. Additional information 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:http://www.prnewswire.com/news-releases/lion-establishes-lion-nft-limited-officially-enters-the-nft-field-301290500.html
SOURCE Lion Group Holding Ltd.
FAQ
What is Lion Group Holding Ltd. known for?
What is the significance of Lion NFT Limited?
When is the Lion NFT trading platform expected to launch?
What licenses does Lion Group hold?
Who is leading Lion Group's NFT initiative?
