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ZW Data Action Technologies, Inc. (Nasdaq: CNET) (“ZW Data” or the “Company”), a coordinated web based promoting, accuracy showcasing, information examination, and other worth added administrations organization, today declared that it went into a participation concurrence with Forbes Global Alliance (“FGA”), to fabricate the Forbes China Group Digital Collection Platform to send off NFT Products and mutually work the stage information by utilizing the two gatherings’ individual capital, stage and asset advantages.
Forbes China Group, under Forbes Global Media Holdings Inc. (“Forbes”), is a global organization that joins media and local area and spotlights on China’s business area. It claims Forbes China and Forbes Global Alliance. FGA is a worldwide trade stage that joins together and develops remarkable Chinese gifts. Forbes is a worldwide media, marking and innovation consultancy organization. Since its foundation in 1917, Forbes has made and gathered tremendous significant Intellectual Property (“IP”) series and items including The World’s Most Innovative Companies List, Forbes Worlds Billionaires, Forbes China Rich List, and more.
This participation with FGA is one more significant drive for the Company to proceed with its development to the NFT market, following its participation with China Digital Culture (HKG:08175) and Guangzhou Digital Gold Information Technology Co., Ltd on IP. The Company will lay out an advanced assortment stage for FGA, and co-discharge a set number of FGA’s NFT items, offering administrations including however not restricted to web facilitating, advanced promoting and content conveyance. FGA’s NFT items contain a few interesting items and different show organizations like identifications, canvases, and recordings. Joined with the “uniqueness” and “perpetual retention” highlights of NFT, FGA’s NFT items will have display and assortment values. FGA and ZW Data intend to team up with a few specialists and elevate the NFT items to the global market. The Company expects that the IP and systems administration assets from FGA will be a promoter for its NFT items, which could become one of the significant techniques for FAG to create incomes in the future.
“The emergence of NFT has changed the traditional virtual commodity trading model, and the cooperation with FGA is a new attempt of ZW Data in NFT + digital publishing. We envisage that we are able to launch more digital assets online through the NFT platform by building a multi-industry blockchain application platform, as we always aim to expand NFT applications to more industries, promote NFT development and enhance the value of traditional industries. The global NFT trading volume has been increasing since 2021. According to the China Digital Collections (NFT) Market Analysis Summary 2021 issued by science.china.com.cn, since 2021, about 4.56 million digital collectibles were issued in China with a total market value of approximately 150 million RMB. In April 2022, about 5 million digital collectibles were issued in one month with a total value of 230 million RMB, showing a rapid growth. We are confident about the future development of NFT market and believe that this cooperation with FGA will largely benefit our revenue growth going forward,” remarked Handong Cheng, Chairman and Chief Executive Officer of ZW Data.
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