Marvion announces MOU with Prosynergy Consulting Limited to jointly take on the US$37billion digital asset industry

News provided by

Oct 25, 2022, 08:13 ET

SINGAPORE, Oct. 25, 2022 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC:BONZ) is pleased to announce that Marvion Pte Ltd, a wholly owned subsidiary, has entered into a MOU with Prosynergy Consulting Limited to jointly develop and offer a range of services specific to virtual asset stakeholders – allowing the companies to take on the US$37billion digital assets industry.

As part of the MOU, the initial set of services to be jointly developed will include:

Smart Contract review services for virtual asset projects,
Smart Contract technological support capabilities,
Advising on the enforceability of Smart Contracts in Digital Ownership Tokens and virtual asset projects,
Advise and support virtual asset stakeholders with respect to their corporate set up, governance and licensing matters, and
Provide assistance/advice to corporations with respect to ESG related requirements.

In connection with the abovementioned services, Marvion shall be responsible for reviewing, assessing, and providing support on Smart Contract and web3 technology related matters, while Prosynergy shall be responsible for the provision of compliance, regulatory, and structuring advice.

Prosynergy (https://www.prosgy.com/) was founded by Louie Lee and Sally Lin. Louie was an Associate Director of Hong Kong's Securities and Futures Commission (SFC) when he left in 2013. He had been in the Commission for close to 10 years where he was involved in dealing with the Lehman incident and the drafting of the Structured Product Code. Sally was also a former regulator with the SFC and worked with Louie on a number of in-house initiatives and was part of the Investment Product Division. Sally specializes in compliance, internal audit, internal control, risk assessment and mitigation programmes. The Regulatory Duo have been utilising their regulatory and compliance expertise in acting as a solution provider for financial institutions. With the introduction of various regulations, rules and guidelines on virtual assets in Hong Kong, the Regulatory Duo were involved in a number of virtual asset related licence applications, including Hong Kong's only two approved regulated Virtual Asset Trading Platforms (SFC Type 1 and Type 7 licences) and other Virtual Asset Portfolio Managers' applications (SFC for type 9 licence uplift).

Commenting on the collaboration, Louie Lee, said, "We are very excited to be working with Marvion. We are always looking for good partners to help us extend our business networks and Marvion definitely fits the bill. With its reach across South East Asia, Europe and the United States, I am confident that we will be able to benefit from Marvion's connection to open these new markets."

Based on Statista, it was reported that the digital assets segment is projected to reach US$37.24billion in 2022 (https://www.statista.com/outlook/dmo/fintech/digital-assets/worldwide). Total revenue for this sector is further expected to achieve a compounded annual growth rate of 17.30% to hit US$82.71billion by 2027 – providing exciting growth opportunities for Marvion in the mid- to long-term.

Commenting on the new partnership, Raymond Chua, CEO of Marvion Limited said, "As a company, we are always looking for new products and services we can offer our customers. One key area of growth we see will be in the regulatory and compliance space. The management team of Prosynergy has many years of legal and regulatory experience, hence we are definitely very well placed to offer this service with Prosynergy as our partner."

For more information on Marvion and its DOT offerings, please visit www.marvion.media.

For media queries, please contact:

[email protected]

About BONZ

Bonanza Goldfields Corporation is a Nevada holding company that through its subsidiaries are engaged in the media distribution business. Specifically, we provide authentication, valuation and certification ("AVC") service, sale and purchase, hire purchase, financing, custody, security and exhibition ("CSE") services to buyers of movie and music media through traditional channels as well as through leveraging blockchain technology through the creation of digital ownership tokens ("DOTs").

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 exists 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: www.marvion.media

Facebook: www.facebook.com/marvionmetaverse

Instagram: www.instagram.com/marvion.media

Twitter: www.twitter.com/marvion_media

LinkedIn: www.linkedin.com/company/marvion

Telegram: www.t.me/marvion_media

About Marvion's DOT

Marvion's DOTs are 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 DOT contains the following: