Scienjoy Holding Corporation (“Scienjoy”, the “Company”, or “We”), a leading live entertainment mobile streaming platform in China, announced that Victor He, Chairman and CEO of Scienjoy, accepted his interview with other participants on topic of Metaverse with Phoenix Television, a partially state-owned television network that offers Mandarin and Cantonese-language channels that serve the Chinese mainland, Hong Kong, Macau, Taiwan and other markets with substantial Chinese-language viewers.

Scienjoy, with its partners Global Friendship Exchange Foundation (GFE) and Herr Gallery, has been working on supporting young artists with Non-Fungible Token (NFT) art creation and droppings on major NFT platforms, such as OpenSea and Rarible, for the past months. Scienjoy’s New York based team has received more than 100 requests from artists worldwide seeking to sign up for the NFT marketplaces since it was first announced in September.

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Artists can present their NFTs and provide periodical updates to the followers and the public on the joint platform of Scienjoy and Herr Gallery. The platform provides artists an opportunity to show their artworks to a vast range of audience, attract more followers, and ultimately increase their publicity in the fast-growing NFT market.

According to an industry report by Reuters, the NFTs market has reached a new high of $10.7 billion in sales volumes in the third quarter of 2021, compared with $1.2 billion and $1.3 billion in the first quarter and second quarter of 2021 respectively. The sales on OpenSea, the biggest NFT marketplace, surged to $3.4 billion and $3 billion in August and September respectively. Art positioned in the second place for the number of non-fungible token sales in popular categories in the past 30 days up to October 4^th, 2021, trailing behind collectible. For more information about the report, please visit the website at https://www.reuters.com/technology/nft-sales-surge-107-bln-q3-crypto-asset-frenzy-hits-new-highs-2021-10-04/.

The strategic transformation of Meta Platforms, Inc., formerly known as Facebook, to launch the Metaverse platform demonstrates an approach for companies to provide a more immersive experience for people who are not in the same physical location. Scienjoy plans to create live streaming Metaverse where users and broadcasters can create a virtual character with their unique attributes to interact with each other. With the creation of virtual characters, the Company expects to enhance interactivities between users and broadcasters, providing a thorough immersion in the virtual world.

“We are very excited about the NFT platform, live streaming Metaverse and Artificial Intelligence (AI) broadcasters and they are going to be very entertaining for users in the future, though they are already existing in the digital world in some forms,” said Victor He at the interview. “The NFT art and Metaverse in gaming and entertainment world are going to be more compelling and significantly attractive to users than ever.”

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Victor He continued, “Given the fact that Scienjoy’s platform currently has more than 250 million registered users with 300,000 broadcasters, with the addition of NFT art and Metaverse to the Company’s current live streaming and entertainment business, Scienjoy is well positioned to capture the tremendous growing opportunity.” This was a strong indication from Victor He in the last week interview with local media, showing Scienjoy’s affirmative ambition in building metaverse in livestreaming and confidence of generating greater value to stakeholders over the long term.