ZW Data Action Technologies Inc. Partners With Forbes Global Alliance to Jointly Launch NFT Products
ZW Data Action Technologies, Inc. , an integrated online advertising, precision marketing, data analytics, and other value-added services company, announced that it entered into a cooperation agreement with Forbes Global Alliance (“FGA”), to build the Forbes China Group Digital Collection Platform to launch NFT Products and jointly operate the platform data by leveraging the two parties’ respective capital, platform and resource advantages.
Forbes China Group, under Forbes Global Media Holdings Inc. (“Forbes”), is an international company that combines media and community and focuses on China’s business sector. It owns Forbes China and Forbes Global Alliance. FGA is a global exchange platform that unites and cultivates outstanding Chinese talents. Forbes is an international media, branding and technology consultancy company. Since its establishment in 1917, Forbes has created and accumulated vast valuable Intellectual Property (“IP”) series and contents including The World’s Most Innovative Companies List, Forbes Worlds Billionaires, Forbes China Rich List, and more.
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This cooperation with FGA is another important initiative for the Company to continue its expansion to the NFT market, following its cooperation with China Digital Culture (HKG:08175) and Guangzhou Digital Gold Information Technology Co., Ltd on IP. The Company will establish a digital collection platform for FGA, and co-release a limited number of FGA’s NFT products, offering services including but not limited to web hosting, digital marketing and content delivery. FGA’s NFT products contain several rare contents and various presentation formats such as badges, paintings, and videos. Combined with the “uniqueness” and “perpetual retention” features of NFT, FGA’s NFT products will have exhibit and collection values. FGA and ZW Data plan to collaborate with several artists and promote the NFT products to the international market. The Company expects that the IP and networking resources from FGA will be a booster for its NFT products, which could become one of the major methods for FAG to generate revenues 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,” commented Handong Cheng, Chairman and Chief Executive Officer of ZW Data.
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