Light Media Acquires KWONFT.com and KWONNFT.com

Rhea-AI Summary

Light Media (OTC: LGMH) has announced its acquisition of KWONFT.com and KWONNFT.com, enhancing its positioning in the rapidly evolving NFT market. CEO Danny Wilson stated that the company aims to actively participate in the cryptocurrency revolution as NFTs gain popularity. The acquisition represents a strategic alliance with key developers in the crypto space, indicating upcoming developments. Light Media specializes in various media platforms and aims to build a global multimedia conglomerate.

Positive

• Acquisition of KWONFT.com and KWONNFT.com strengthens position in the NFT market.
• Strategic alliance with key developers enhances involvement in cryptocurrency.
• Potential for future growth as NFT market expands.

Negative

• None.

Acquisitions Strengthen Crypto Revolution Positioning In Burgeoning NFT (Non-Fungible Tokens) Space

Atlanta, GA and New York, NY, March 31, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Light Media (OTC MARKETS: LGMH), Global Media Specialist, announced today that it has acquired: KWONFT.com and KWONNFT.com.

"CryptoCurrency Revolution continues to accelerate at LightSpeed, as NFTs (Non-Fungible Tokens) take-off. Light Media will not be on the outside looking in, and has formed a strategic alliance with a key developer to firm up positioning in the rapidly-evolving crypto space. There is more news to come,” said Danny Wilson, CEO, Light Media Network.

About NFTs (Non-Fungible Tokens): A non-fungible token is a unit of data on a digital ledger called a blockchain, where each NFT can represent a unique digital item, and thus they are not interchangeable. NFTs can represent digital files such as art, audio, videos, items in video games and other forms of creative work. While the digital files themselves are infinitely reproducible, the NFTs representing them are tracked on their underlying blockchains and provide buyers with proof of ownership. Blockchains such as Ethereum, and Flow each have their own token standards to define their use of NFTs.

About Light Media: Through its internet, radio, television, print and special events asset platforms, Light Media (OTC: LGMH) specializes in the marketing and distribution of inspirational music, video, apps (audio, visual, games) and entertainment worldwide, as well as cryptocurrency-centric platforms and technology. LGMH has been steadily investing and reinvesting in its quest to build a leading, global multi-media conglomerate by delivering to the chosen target market community environments. Light Media is recognized by RBR as one of the Top 25 US-based publicly-traded radio/media companies, and by NYU School of Business as one of the Top 1000 media companies in the world. For more information, please visit: www.LightMediaNetwork.com. To listen to Light Media's flagship radio station franchise "The King," serving Top 10 US Media market of Metro Atlanta, Georgia, please visit: www.1055TheKing.com. For more information, please visit: www.LightMediaNetwork.com; www.LightMediaHoldings.com; or www.InvaluableMedia.com

Cautionary Note Regarding Forward-Looking Statements: This press release contains statements, which may constitute "forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Light Media (OTC: "LGMH") and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

Light Media Network
404-893-5752
lgmh@lightmedianetwork.com

FAQ

What is the significance of Light Media's acquisition of KWONFT.com and KWONNFT.com?

The acquisition strengthens Light Media's position in the burgeoning NFT market, aligning with its strategy to engage actively in the cryptocurrency space.

How does the acquisition impact Light Media's future?

The acquisition is expected to provide strategic advantages and revenue opportunities in the evolving NFT sector.

When was the acquisition of KWONFT.com and KWONNFT.com announced?

The acquisition was announced on March 31, 2021.

What is LGMH's focus in the media industry?

LGMH focuses on marketing and distributing inspirational content across various platforms, including cryptocurrency-centric technologies.

What does the NFT market entail?

NFTs represent unique digital items on a blockchain, providing proof of ownership and can include digital files like art, music, and videos.