Bonanza Goldfields Corp.
07/07/2022 | Press release | Distributed by Public on 07/07/2022 06:06
Marvion™ Crosses US$1.2million Revenues On Sale of Intellectual Property Licenses In Important Milestone And Adopts Polygon Chain for DOTs in line with its vision to Achieving[...]
SINGAPORE, July 7, 2022/PRNewswire/ -- Bonanza Goldfields Corp. (OTC: BONZ) is pleased to make the following announcement:
- Marvion's Revenues from the initial launch of movie remake licenses exceeded US$1.2 millionin another important milestone achievement in 2022;
- Marvion™️ announces the adoption of Polygon (MATIC) for the minting of its Digital Ownership Tokens ( DOTs) in its quest to become carbon neutral in the near future.
US$1 MILLIONREVENUE MILESTONE
In 2022, MarvionTM achieved several milestones based on our DOTs, including the trading of Intellectual Property, Copyright, and Trademark licenses (IP Licenses) for protecting property that is the result of creativity.
Since the launch of our first movie remake license DOTs in late June, MarvionTM is pleased to announce that this initial launch has generated revenue exceeding US$1.2 Millionin less than one month. This represents a key milestone in the company's achievement and is the first of many remake licence DOT projects in the days to come.
MarvionTM will continue to provide updates to announce new DOTs projects from time to time. Stay tune!
One of the reasons behind this tremendous success in revenue lies in the fact that our Hybrid DOTs, unlike any other Non-Fungible Tokens (NFTs), are packaged with Intellectual Property (IP) rights, guaranteeing our consumers the assignments of legal rights vested thereunder. Without a shadow of doubt, this is a powerful vehicle to secure authentication and ownership of intangible property.
This week, Marvion™ achieved yet another milestone of demonstrating how movie remake licenses, a very small category of IP Licenses, can be traded with more assurances and better efficiency on the blockchain. With this milestone achieved, Marvion ™ continues to make progress towards its mission of becoming the leading platform for the trading of all media and entertainment related IP Licenses. No doubt the market will continue to see how MarvionTM Hybrid DOTs will continue to be the next evolution of transactions for intangible property (e.g., IP) where tested NFT technologies will be leveraged to enable expeditious/near-instantaneous secondary transaction, removing traditional lag times (e.g., attendance of lawyers, drafting of paper transaction documents, etc.).
Being the first in market, MarvionTM management is confident that there will be continued growth in both interest amongst the markets as the greater public becomes more educated in Hybrid DOT.
MARVION TM VISION TO ACHIEVE CARBON NEUTRALITY
MarvionTM is also pleased to announce that we will be adopting Polygon (MATIC) in our Hybrid DOT as part of our ESG strategy. Being blockchain agnostic, Marvion™ can continuously adopt the most environmentally friendly blockchain solution appropriate for its business. The adoption and implementation of Polygon for Marvion™ Hybrid DOTs reflects its vision to eventually become carbon neutral. Some of the benefits of using the Polygon chain include (but is not limited to):
- Comparably lower transaction (gas) fees;
- Fast transaction speeds; and
- Eco friendly (carbon negative) blockchain.
Kevin Tan, CEO of Bonanza Goldfields Corporation (BONZ), commented, "We took our time to carefully develop the world's best DOT product for intangible assets to disrupt the media and entertainment industry by facilitating the efficient, effective and secure trading of IP Licenses. And we are conscious of the responsibility to achieve carbon neutrality as soon as possible. We have always aspired to take the lead on the responsible implementation of NFT technologies and today, I am proud to say that we have achieved that.''
Our PR Director in Marvion™️, Marsella Cheng, comes to an end to comment, "Although revenues will always be the most important to any private commercial enterprise like ours, it's absolutely paramount that we continue to work together diligently to advance ESG and establish MarvionTM as the leading innovator in the media and entertainment industry, and using the Polygon chain will eventually move us towards becoming a net positive for the ecosystem."
Forward Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "look forward to," "may," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions. These forward-looking statements may include, but are not limited to, statements regarding future business activities including the expansion into the decentralized financing space. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. Among the factors that could cause actual results to differ materially from those described or projected herein include uncertainties associated with operating a business in Singaporeand Hong Kong, risk of interference by the PRC government, ability to compete, that financial resources do not last for as long as anticipated, and that BONZ is a holding company that may not realize the expected benefits of DOTs offered by Marvion™️. A further list and description of these risks, uncertainties and other risks can be found in BONZ's regulatory filings with the U.S. Securities and Exchange Commission, including in its current report on Form 10-K filed on March 31, 2022. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. BONZ undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.
About BONZ
Bonanza Goldfields Corporation is a Las Vegasbased mining and mineral exploration company, exploring gold and silver properties located in Goldfield, Tonopahand Comstock Mining Districts of Nevada, and the Chloride Mining District of Arizona.
The group is building an ecosystem and a metaverse for the media and entertainment industry that implements and adopts blockchain and NFT technologies, through mergers and acquisitions.
About Marvion™️
Marvion is a metaverse technology company in the media and entertainment industry, focusing on movies, drama, animation, comics, music, and games that provide content and entertainment to adults and children alike. Although most media and entertainment content are digital in nature today, they exist in the real world as intangible assets, such as intellectual property, licenses and contractual rights, with intrinsic value.
Marvion applies blockchain and NFT technologies as tools to disrupt and improve the existing media and entertainment industry and its current practices. The technology underpinning NFTs (non-fungible tokens) has multiple functional use cases, some of which have the power to transform our societies, and some of which may be subject to regulations. Marvion uses NFT technology solely to create a legally-binding digital ownership token (DOT) to both tangible and intangible media and entertainment assets, which our analysis suggests would functionally fall outside any regulatory perimeter.
More Information about Marvion™️:
Website: marvion.media
Facebook: facebook.com/marvionmetaverse
Instagram: instagram.com/marvion.media
Twitter: twitter.com/marvion_media
LinkedIn: linkedin.com/company/marvion
Telegram: t.me/marvion_media
About Hybrid DOT (h-DOT)
A h-DOT is an integrated, best in class, digital ownership token (DOT) that contains a smart contract that can execute transactions and also contains the specific legal terms of the intellectual property ownership, license and/or rights. Each Hybrid DOT (h-DOT) contains the following:
- A copy of the SPA for the purchase of the master license.
- Evidence or warranty of ownership of the relevant intellectual property.
- Ownership of the sub-license detailing the rights of the h-DOT holder.
- Image/video/music or other file depending on what the asset is.
For media queries, please contact:
Ms Marsella Cheng
Director, PR
[email protected]
SOURCE Bonanza Goldfields Corp.