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The9 Limited (Nasdaq: NCTY) is a diversified high-tech Internet company headquartered in Shanghai, listed on Nasdaq since 2004. Initially known for securing the exclusive license to operate and distribute the popular online game World of Warcraft in China, The9 has since expanded its operations into several cutting-edge sectors.
The9 operates a robust cryptocurrency mining business, providing computing power to Bitcoin mining pools in exchange for a fractional share of Bitcoin. This solid revenue stream is complemented by their initiatives in AI and blockchain technology.
One of The9's notable projects is Shenma.io, a digital human SaaS platform driven by AI-generated content (AIGC). With 350,000 registered users and a library of 150,000 short video scripts, Shenma.io allows users to create and monetize digital human clones with proprietary cloning technology, enhancing content management and engagement.
The9's strategic expansion into AI applications is further evidenced by their investment in WM Therapeutic, a company developing AI-driven solutions for brain diseases. The recent acquisition of a 21.7% share in WM Therapeutic brings The9's total stake to 30%, with an option to increase this to 51%. WM Therapeutic uses GenAI and multi-dimensional omics technology for precision diagnostics and treatment of central nervous system disorders.
Another significant venture is The9’s partnership with Kuaijin Shidai, an AI-powered retail platform transforming traditional stores into unmanned retail outlets, significantly reducing operational costs and enhancing profitability. The9 has purchased a 15% stake in Kuaijin, with an option to increase this to 51%.
In the education sector, The9 has acquired a 19% stake in Weixiang, an AI-powered educational technology company. Weixiang leverages AI to enhance online schooling through platforms like TikTok and WeChat, reaching millions of followers and providing innovative educational solutions.
The9 continues to show strong growth and diversification, focusing on blockchain technology, AI applications, and strategic investments in high-potential companies. With a commitment to technological innovation and market expansion, The9 aims to solidify its position as a leader in the global tech industry.
The9 Limited (Nasdaq: NCTY) announced its collaboration with Neymar Jr. for an NFT drop under the NFTSTAR platform, initiating on November 11. The event includes a livestream featuring Neymar Jr. at 3PM UTC, where he will introduce the new NFT series titled 'Beastmode Metaverse x Neymar Jr.: Episode 01 - HUMAN'. Previous releases, like 'JungleVIBES', achieved over 60,000 freemints. This event is expected to enhance NFTSTAR's visibility and engagement in the NFT market.
The9 Limited (Nasdaq: NCTY) announced that its subsidiary NFTSTAR Singapore Pte. will host a product launch conference on October 15, 2022. The event will introduce four new products, including an NFT collection featuring Neymar Júnior, a Web3 metaverse platform called Playmaker, a blockchain soccer game named Metagoal, and a sports prediction game titled Wonder Win. These products are essential to establishing the NFTSTAR metaverse ecosystem, which aims to unite users through sports and entertainment.
The9 Limited (NASDAQ: NCTY) has announced a cancellation agreement with JPKONG LTD. and Qifeng Sun Ltd. to negate Tranche IV Warrants, which allowed the purchase of a total of 34,648,640 Class A ordinary shares at $0.2667 each. This cancellation does not impact other warrants from the January 2021 agreement. Additionally, The9 has strategically invested $3 million in the IPO of Nano Labs Ltd (NASDAQ: NA), acquiring 260,642 American depositary shares. This move aligns with The9's goal to diversify as a high-tech Internet company.
The9 Limited (Nasdaq: NCTY) has signed a Purchase Agreement with SolarCoin LLC for a blockchain computing center in Kyrgyzstan. This deal grants The9 access to 31.5MW of electricity capacity to support 7,500 Antminer S19J Bitcoin mining machines, which will contribute approximately 675PH/s hash power. Construction is expected to be completed by the end of July 2022, with an anticipated electricity cost of $0.05/kWh. The acquisition includes ownership of transformers, supporting equipment, and land usage rights.
The9 Limited (NASDAQ: NCTY) filed its annual report on Form 20-F for the fiscal year ended December 31, 2021, with the SEC on May 2, 2022. The report includes audited financial statements and is accessible via the SEC's website and The9's investor relations page. The company, listed on Nasdaq since 2004, aims to diversify as a high-tech Internet entity, focusing on blockchain, cryptocurrency mining operations, and its Metaverse celebrity social platform, NFTSTAR.
The9 Limited (Nasdaq: NCTY) held its annual general meeting on December 22, 2021, in Shanghai, where shareholders approved several key resolutions. These include the re-election of directors Davin Mackenzie, Chau Kwok Keung, Ka Keung Yeung, and George Lai for three-year terms. Additionally, amendments to the company's memorandum and articles of association were approved, including the introduction of a Federal Forum Provision and changes regarding voting rights for Class B shares, which will now offer 100 votes per share. The company aims to be a high-tech Internet entity, focusing on blockchain and cryptocurrency.
The9 Limited (Nasdaq: NCTY) announced its annual general meeting (AGM) for shareholders on December 22, 2021, at 2:00 p.m. in Shanghai. The board supports proposed resolutions for the AGM and a concurrent Class B Meeting for Class B shareholders. The record date for shareholder eligibility is set for November 26, 2021. The company has also filed its annual report for the fiscal year ending December 31, 2020, with audited financial statements available to shareholders via email or their website.
The9 Limited (Nasdaq: NCTY) has announced a significant partnership with soccer star Neymar Jr. through its NFT trading platform, NFTSTAR. The exclusive license agreement allows NFTSTAR to create and sell digital collectibles featuring Neymar's career highlights. These NFTs will be developed in collaboration with NR SPORTS and will offer unique ownership records on the blockchain. This initiative aims to connect NFTs with a broader audience by accepting standard payment methods, enhancing accessibility for global users. The platform aspires to expand into various entertainment sectors.
The9 Limited (Nasdaq: NCTY) announced that its NFT platform, NFTSTAR, has reached 180,000 pre-registered users from 176 countries ahead of its official launch on December 17, 2021. The platform features NFTs from various global sports stars, including Christian McCaffrey and Giannis Antetokounmpo. Users can purchase and trade NFTs while using conventional payment methods like credit cards. All pre-registered users will receive a unique NFTSTAR Community ID as a limited edition collectible at launch. The9 aims to create a significant portal to the metaverse through this platform.
The9 Limited (Nasdaq: NCTY) announced an exclusive licensing agreement with NBA MVP Giannis Antetokounmpo and his brothers for NFTSTAR, its NFT trading platform. The Antetokounmpo brothers will serve as global ambassadors and shareholders. NFTSTAR will develop and trade NFT collections highlighting their careers and beliefs. The platform aims to facilitate NFT transactions with traditional payment methods and foster a community featuring celebrity-endorsed collectibles.
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