NetDragon Subsidiary Neopets, Inc. Completes Successful Sale of The Neopets Metaverse Collection NFTs

Rhea-AI Summary

NetDragon Websoft Holdings Limited announced that its subsidiary Neopets, Inc. successfully sold 4,233 NFTs from the Neopets Metaverse Collection between November 12 and November 15, totaling 8,708 SOLs. The company now holds over US$40 million in cryptocurrencies. This NFT sale generated significant interest among both Neopets enthusiasts and blockchain communities, reflecting high demand for digital memorabilia. Proceeds will fund further development of games across web and blockchain platforms, marking NetDragon's entry into the metaverse, leveraging its technology and gaming expertise.

Positive

• Successful sale of 4,233 NFTs, indicating strong market interest.
• Accumulated over US$40 million in cryptocurrencies, showcasing financial strength.
• Plans to develop next-generation games for both traditional and blockchain platforms.

Negative

• None.

HONG KONG, Nov. 19, 2021 /PRNewswire/ -- NetDragon Websoft Holdings Limited ("NetDragon" or the "Company"; Hong Kong Stock Code: 777), a global leader in building internet communities, is pleased to announce that Neopets, Inc, owned by its subsidiary JumpStart Games, successfully completed a sale of digitally created NFTs (non-fungible tokens), known as The Neopets Metaverse Collection. 

The sale of the NFTs took place from November 12^th through November 15^th, with the NFTs minted on the Solana blockchain network. In total, 4,233 NFTs were sold in exchange for a total of 8,708 SOLs (Solana network's native cryptographic tokens). Combined with the ETHs previously purchased in the market, the NetDragon group currently holds over US$40 million worth of cryptocurrencies. 

Importantly, the NFT sale garnered very strong interest from both the existing Neopets community as well as the vibrant blockchain enthusiasts' community, with more than 32,000 followers of our NFT project registered over the last two months on social media channels dedicated to this project. The strong following signals significant demand for digital memorabilia and future developments behind the Neopets brand, which launched its online, virtual world of Neopia and its beloved Neopets characters more than 20 years ago, becoming one of the most popular online games in history. 

The proceeds from the NFT sale, combined with additional investments from Neopets and the NetDragon group of companies, will be used to further develop the next generation of games related to the IP across both traditional web and blockchain-based protocols, keeping Neopia thriving as we evolve from web 1.0 to web 3.0. 

This successful NFT sale represents the Company's commitment to be at the forefront of technological change, and also is the first milestone that marked its entry into the metaverse space. Going forward, NetDragon intends to capitalize on the opportunities in the metaverse by leveraging its broad portfolio of metaverse-enabling technologies (including VR, AI, fintech, speech, hologram, etc.), as well as its core competencies in gaming and education, to develop industry-leading products and market to users on a global scale. 

About Neopets

Owned by JumpStart® Games, the leader in creating interactive family experiences that both entertain and educate. JumpStart® creates mobile and multi-player games and experiences under its flagship brands - JumpStart®, Jumpstart Academy®, School of Dragons®, Zoo Guardians® and Math Blaster®. For over 20 years, Neopets has allowed users to create and care for digital pets called "Neopets" while exploring the virtual world of Neopia and sharing it with their friends and the community on desktop and mobile web browsers. JumpStart® has been a subsidiary of NetDragon since 2017. For more information, please visit www.neopets.com.   

About NetDragon Websoft Holdings Limited

NetDragon Websoft Holdings Limited (HKSE: 0777) is a global leader in building internet communities with a long track record of developing and scaling multiple internet and mobile platforms that impact hundreds of millions of users, including previous establishments of China's first online gaming portal, 17173.com, and China's most influential smartphone app store platform, 91 Wireless.

Established in 1999, NetDragon is one of the most reputable and well-known online game developers in China with a history of successful game titles including Eudemons Online, Heroes Evolved and Conquer Online. In recent years, NetDragon has also started to scale its online education business on the back of management's vision to create the largest global online learning community, and to bring the "classroom of the future" to every school around the world.

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SOURCE NetDragon Websoft Holdings Limited

FAQ

What was the total amount earned from the Neopets NFT sale?

The Neopets NFT sale earned a total of 8,708 SOLs.

When did the Neopets NFT sale take place?

The Neopets NFT sale took place from November 12 to November 15, 2021.

How much cryptocurrency does NetDragon now hold?

NetDragon currently holds over US$40 million worth of cryptocurrencies.

What does the NFT sale mean for NetDragon's future?

The NFT sale marks NetDragon's entry into the metaverse and supports the development of next-generation games.

Which blockchain was used for the Neopets NFTs?

The Neopets NFTs were minted on the Solana blockchain.