Powerbridge Technologies Enters into Metaverse to Create a New Model of Smart and Immersive Travel & Leisure

Rhea-AI Summary

Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) announced a partnership with Beyondvision Cultural Development Co., Ltd. to establish Metafusion Digital Co., Ltd. This joint venture aims to integrate metaverse and NFT technologies into the travel and leisure industry, enhancing consumer experiences with immersive digital spaces. Metafusion plans to generate over $15 million in operating income within two years. Dr. Evan Liao will lead the initiative, leveraging over 20 years of experience in urban planning and travel industries.

Positive

• Partnership with Beyondvision to form Metafusion for metaverse and NFT applications in travel.
• Projected operating income of over $15 million within two years.

Negative

• None.

ZHUHAI, China, Feb. 3, 2022 /PRNewswire/ -- Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) ("Powerbridge" or the "Company"), a provider of multi-industry technology solutions, is pleased to announce its partnership between its wholly-owned subsidiary, Powermeta Digital Co., Ltd. ("Powermeta") and Beyondvision Cultural Development Co., Ltd. ("Beyondvision") to jointly establish Metafusion Digital Co., Ltd. ("Metafusion") with the vision to embrace metaverse into the virtual world of travel and leisure.

Metafusion will apply metaverse and NFT related technologies to reshape the travel and leisure industry services and elevate consumer experience with immersive digital spaces. Metafusion will focus on smart travel and leisure site operations, metaverse tourism, metaverse museums and NFT of cultural intellectual properties.

Furthermore, Metafusion will leverage on Beyondvision's vast experience as well as its customers and partners to bolster smart applications and metaverse technology into the travel and leisure industry. Beyondvision's accumulated customer base and resources will provide Metafusion with an established foothold in the market to build various metaverse scenes to the consumers with enhanced immersive experience.

Stewart Lor, President of Powerbridge, commented: "As more and more tech giants such as Meta, Microsoft, Disney, Tencent, Baidu and ByteDance are venturing into metaverse, we strongly believe this technology will change the way we experience the world. With the influence of metaverse and NFT technologies, it will help revolutionize the travel and leisure industry so as to expand our revenue channel. We hope to see that the operating income of Metafusion will exceed $15 million within the next two years."

Dr. Evan Liao, President of Metafusion, stated "I look forward to lead the team at Metafusion as I believe we are well-positioned to take advantage of opportunities to apply smart applications and metaverse technology in the travel and leisure industry. The metaverse technology is a perfect match to enhance consumer experience at the travel and leisure sites, and NFT is ideal to further support our metaverse ecosystem. I trust that my background and expertise will add significant value to the company."

Dr. Evan Liao has been appointed as the president of Metafusion. As a veteran of the urban planning and travel and leisure industries, Dr. Evan has over 20 years of experience in project planning and site development. Dr. Evan obtained his masters' and doctoral degrees from internationally renowned universities in Taiwan and the United States, and he's worked with renowned institutions such as the BBC and the International Tourism Investment Association (ITIA) among others as a consultant, lecturer or member.

About Powerbridge Technologies
Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) is a provider of technology solutions for the global trade industry, IoT platform services as well as intelligent fixtures and devices for smart city operations, supply chain platforms and social livestreaming services for the retail industry, metaverse and smart solutions for the travel and leisure industry, as well as cryptomining and digital asset operations. For more information, visit www.powerbridge.com/ir/ .

Safe Harbor Statement 
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements; specifically, the Company's statements regarding listing on the NASDAQ Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

 

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SOURCE Powerbridge Technologies

FAQ

What did Powerbridge Technologies announce on February 3, 2022?

Powerbridge Technologies announced a partnership with Beyondvision to create Metafusion, focusing on metaverse applications in travel.

What is the goal of Metafusion Digital Co., Ltd.?

Metafusion aims to enhance consumer experiences in the travel and leisure industry through metaverse and NFT technologies.

Who is leading Metafusion Digital Co., Ltd.?

Dr. Evan Liao has been appointed as the president of Metafusion.

What is the expected revenue for Metafusion within two years?

Metafusion is projected to exceed $15 million in operating income within the next two years.

How will Beyondvision contribute to Metafusion?

Beyondvision will provide its customer base and resources to support Metafusion's smart applications and metaverse technology.