SINGAPORE , April 18, 2022 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC: BONZ) is pleased to announce that Marvion™️ has successfully completed the acquisition of 10 licences for each of 10 types of adaptation rights from a portfolio of 20 movies from Euro Amazing Limited for a value of US$10million.
The acquisition covers the purchase of perpetual worldwide license for each movie to allow Marvion™️ to own the associated licensing, sub-licensing rights in whole or in part, as well as associated territorial rights to mint 10 digital ownership tokens (DOTs) per category for 10 categories of adaptation rights derived from each movie.
This latest acquisition enables Marvion™️ to push ahead in accumulating a large portfolio of intellectual property rights and licenses in the media and entertainment industry as it continues its pursuit to be the largest global marketplace for Hybrid NFTs™️ that are the digital ownership titles (DOTs) to media and entertainment intellectual property rights and licences.
Gerald Gn, Group Corporate Finance Director of Marvion™️ said, "This is the first batch of 20 movies that we have acquired from Euro Amazing Limited, and there is definitely more in the pipeline, according to the Memorandum of Understanding we signed in February 2022. The current portfolio of 20 movies include several classics produced between 1983 to 1998 from the height of the Hong Kong's movie industry. We are confident that fans of these movie classics will find it refreshing to relive and reminisce their films' favourite moments through the digital ownership tokens (DOTs) produced by Marvion's MetaStudio, thereby providing a whole new immersive movie experience all over again."
For more information on Marvion™️ and its h-DOT offerings, please visit www.marvion.media.
Bonanza Goldfields Corporation is a Las Vegas based mining and mineral exploration company, exploring gold and silver properties located in Goldfield, Tonopah and 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.
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™️:
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.
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SOURCE Bonanza Goldfields Corp.