Marvion, Inc. (MVNC) Blockchain (DOT Platform) Sales Rise 25% in 2023 with 107% Increase to Gross Profits
Marvion Inc. (MVNC) saw a significant rise in sales on its Blockchain DOT platform in 2023, with a 25% increase and a 107% boost to gross profits. The company is poised for profitability in 2024 with new strategies and structures in place. Marvion continues to explore new market opportunities by incorporating its technology into various sectors, including Halal certification, aiming to bring profitability to the company and its shareholders.
Revenue growth of 25% in fiscal year 2023 compared to 2022.
Gross profit increased by 107% in fiscal year 2023.
Successful sales of intellectual property rights through the DOT platform within the entertainment industry.
Stable market growth despite global economic instability in 2023.
Internal structural changes aimed at optimizing cost structure and improving profitability.
Exploration of new market opportunities, including Halal certification, with potential for significant growth.
Commitment to sustainable business models for long-term profitability.
- None.
2024 is Poised for Profitability with Newly Implemented Strategies and Structures
Dear Shareholders:
As the new CEO, I am honored to lead this successful company into an even brighter future. Building upon our rich legacy, I am committed to fostering innovation, driving sustainable growth, and nurturing a culture of excellence. Together, we will embrace change, seize opportunities, and exceed expectations as we embark on this journey toward continued success and prosperity.
As of the fiscal year 2023, Marvion Inc. (OTC: MVNC) grew its revenue to
Throughout 2023, the company continued flourishing within the entertainment industry by selling intellectual property rights on collections of movie works through our Digital Ownership Token (DOT) platform. This initiative provides a secure resale of intellectual property usage rights, leveraging blockchain technology for various utilizations of movie content, including adaptations into other media forms such as comics and TV series.
Despite the unstable global economic conditions in 2023, Marvion's media DOT business has maintained stable market growth. This success demonstrates that our DOT security and resale mechanisms can facilitate new market opportunities for the media sector, creating additional products and enhancing the market value of media works.
Moving Forward
Moving forward, at the start of 2024, Marvion initiated internal structural changes aimed at optimizing our cost structure and reducing future operating costs. These changes will enable us to work more efficiently and improve the company's profitability in the coming years.
While the entertainment industry DOT business has sustained us through the past two fiscal years, Marvion continues to explore ways to incorporate our DOT technology into other appropriate use cases in 2024. Some areas we have identified include the use of DOT for Halal certification (Halal certification applies to the food, cosmetic and pharmaceutical sectors and attests that a product is manufactured in full compliance with the precepts of Islamic Law, that it does not include any "forbidden" components, and has in no way been in contact with any substances or objects considered "impure".)
According to research from Statista, there are approximately 1.6 billion Muslims worldwide. The global Halal market is worth more than
These new opportunities clearly demonstrate Marvion's commitment to moving beyond the hype of Web 3.0 to find a sustainable business model for the company as well as our shareholders. In addition to Halal, we will be exploring more other business application opportunities for the DOT technology usage.
With these newly implemented market strategies, we believe we will bring Marvion into profitability by the end of 2024 and beyond. The media markets continue to respond well to our DOT technology and our next generation of authentication standards. We will continue to expand our reach to bring our DOT technology and platform into more traditional media markets based on the latest blockchain technologies to help create more market opportunities.
Sincerely,
Chan Man Chung
Director and Chief Executive Officer
Marvion Inc. (OTC: MVNC)
https://www.marvion.media
https://www.statista.com/topics/4428/global-halal-market/#topicOverview
For media queries, please contact:
media@marvion.media
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SOURCE Marvion Inc.
