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Blockchain Technology Offers Businesses a New Way to Connect with Consumers

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NEW YORK, April 1, 2021 /PRNewswire/ — There was an inflow of corporations shopping for bitcoin and accepting it as fee in latest instances. For instance, Meitu, a Chinese language firm that makes a photograph modifying app, accepted USD 22.1 Million price of ether and USD 17.9 Million price of bitcoin. This follows corporations like Tesla and Sq., which have additionally put an emphasis on cryptocurrency in latest months. Nonetheless, the proliferation of cryptocurrencies and blockchain expertise within the extra mainstream enterprise infrastructure is commonly misunderstood by the general public, but is extra widespread than most understand. For instance, latest regulatory filings with the Securities and Trade Fee point out that JPMorgan is giving its investor shoppers a strategy to probably profit from crypto within the type of public-company shares. Colour Star Expertise Co., Ltd. (NASDAQ: CSCW), Corridor of Fame Resort & Leisure Firm (NASDAQ: HOFV), Sino-International Delivery America, Ltd. (NASDAQ: SINO), Canaan Inc. (NASDAQ: CAN), Sq., Inc. (NYSE: SQ)

Within the meantime, non-fungible tokens (NFTs) have change into immensely standard. A NFT is a unit of knowledge on a blockchain and might characterize digital information resembling artwork, audio, movies, objects in video video games and different types of inventive work. SuperRare, an NFT artwork platform that has garnered tens of thousands and thousands in new gross sales in latest weeks, has simply raised thousands and thousands from buyers. In response to a report by TechCrunch, “One distinctive side of the platform is that creators can proceed to earn on a chunk’s appreciating worth following with 10% commissions on secondary gross sales. After a prolonged crypto winter, blockchain startups are coming again with a vengeance amid a surge in startup investing, a surge in enthusiasm round NFTs and a surge in bitcoin costs.”

Colour Star Expertise Co., Ltd. (NASDAQ: CSCW) introduced yesterday breaking information that,
“it’s creating a non-fungible token (NFT) enterprise for the manufacturing, launch, and promotion of NFT by way of its wholly-owned subsidiary, Colour China Leisure Co., Ltd. (hereinafter known as “Colour China”), with regard to community copyrights, live shows, artist movies, TV applications, music, museum collections, and celebrity-exclusive product designs.

Colour Star continues its high-tech improvement to maneuver towards as an leisure expertise firm, and is totally dedicated to bringing expertise, synthetic intelligence, and group sharing to the leisure area. The Firm’s NFT enterprise will concentrate on copyright procurement, live performance movies and ticket gross sales, in addition to music and artist interplay. By way of the appliance of NFT encryption expertise, the Firm hopes to seize extra revenue and appreciation potential for artists and collectors alike.

The CEO of Colour Star, Mr. Luke Lu, commented: “The Firm has at all times strived to construct our leisure enterprise on the appliance of recent digital expertise, and now with the NFT improvement, we should always have the ability to obtain extra breakthroughs in science and expertise with respect to our merchandise, providers, and partnerships. With a powerful basis in superstar leisure content material and inventive functionality, coupled with the launch of the Colour World APP — a celeb interactive platform created by Colour Star, the Firm can higher improve and ideal the appliance situations for NFT, and prepared the ground into a brand new period of tradition and leisure.”

The Firm’s new improvement of NFT ought to assist to create and launch NFTs for all of Colour Star’s companions, together with on-line museum collections, on-line live performance movies and ticketing, custom-made superstar merchandise, producer copyrights, amongst others. The convergence of leisure content material with NFT is a perfect mixture, the place the distinctiveness of celebrities and of particular person creations generate demand for NFT. Celeb clips, unique behind-the-scenes highlights, manufacturing copyrights, live performance tickets, and different contents launched by the Firm ought to give collectors extra entry to buy possession rights. On the identical time, the Colour Star APP will incorporate augmented actuality (AR) expertise along with NFT in producing not solely conventional 2D visible merchandise, but additionally new creations offered in 3D, thereby diversifying NFT functions. The Firm has already deliberate cooperation with extra digital artists to show their work on the platform, enriching the vary of product choices. The mix of “superstar + leisure + merchandise + digital works + copyright” ought to present all-around profit for the event and utility of NFT merchandise, which the Firm believes will assist to inject new concepts and vitality into the digital digital foreign money market. At current, the Firm is negotiating cooperation with a lot of blockchain expertise corporations and platforms to launch its NFT for its providers and merchandise, with the most recent creations anticipated to quickly be revealed.”

Corridor of Fame Resort & Leisure Firm (NASDAQ: HOFV) introduced on March twenty third, it has signed a partnership with Dolphin Leisure, Inc., a number one unbiased leisure advertising and premium content material improvement agency, to supply non-fungible tokens (“NFTs”) that may permit followers {of professional} soccer and sports activities leisure to purchase and promote unique content material developed by HOFV and its companions. The partnership gives the Firm with one other strategy to generate income from its burgeoning media division.  “We’re thrilled to be partnering with Dolphin, an rising thought chief within the NFT market, to speed up our entry into the area,” stated Michael Crawford, President and CEO of HOFV. “The numerous progress we have now made on our strategic initiatives since going public in July 2020 has allowed us to be ready the place we are able to provide people the chance to personal NFTs related to unique content material centered on skilled soccer. This partnership will present us with one other alternative to unlock further worth from the one-of-a-kind media initiatives we have now in improvement.”

Sino-International Delivery America, Ltd. (NASDAQ: SINO) introduced on March 18th, it is going to launch a brand new trade for NFTs (non-fungible tokens) in collaboration with e-commerce public chain CyberMiles.  The brand new NFT trade will function a highly-secure, sturdy platform for collectors, artists, musicians and buyers to create, promote and purchase certainly one of a sort, digital content material represented as NFTs. The businesses anticipate to formally launch their new NFT platform in July 2021, offering a crucial hyperlink between the digital blockchain world and the bodily world. Mr. Lei Cao, Chief Govt Officer of Sino-International, commented, “NFT is driving the subsequent wave of cryptocurrency adoption, making it a pure extension of Sino-International’s ongoing diversification and up to date investments within the quickly rising cryptocurrency market. NFT has change into some of the essential primary utility applied sciences within the means of social info digitization by enabling the monetization of digital merchandise. We consider NFT and the blockchain that gives the essential expertise for it is going to have a profound and irreversible influence on the transformation from the type of paintings circulation and the transformation of worth ideas to the social id, collaboration and distribution system.”

Canaan Inc. (NASDAQ: CAN) introduced final week that its income visibility has improved considerably in 2021 because of attaining buy orders totaling greater than 100,000 models of bitcoin mining machines from prospects in North America. A lot of these buy orders have been positioned with prepayment and can possible occupy the Firm’s present manufacturing capability fully for the complete yr of 2021 and past. With these totally dedicated buy orders, the Firm now enjoys a a lot increased diploma of income visibility and extra exact forecast. As such, the Firm is ready to leverage such info and extra liquidity to conduct its element purchases, manufacturing scheduling, warehousing and logistics.

Sq., Inc. (NYSE: SQ) reported final month that it has bought roughly 4,709 bitcoins at an mixture buy worth of USD 50 Million. Sq. believes that cryptocurrency is an instrument of financial empowerment and gives a manner for the world to take part in a world financial system, which aligns with the corporate’s function. The funding represents roughly one p.c of Sq.’s complete belongings as of the top of the second quarter of 2020. “We consider that bitcoin has the potential to be a extra ubiquitous foreign money sooner or later,” stated Sq.’s Chief Monetary Officer, Amrita Ahuja. “Because it grows in adoption, we intend to be taught and take part in a disciplined manner. For an organization that’s constructing merchandise based mostly on a extra inclusive future, this funding is a step on that journey.”

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