Global Mofy Metaverse Limited (the "Company" or "Global Mofy
Metaverse") (Nasdaq: GMM), a technology solutions provider engaged
in virtual content production and the development of digital assets
for use in digital entertainment industry, today announced a major
new customer order. Under the contract, the Company will provide 3D
digital asset licensing, virtual technology production, as well as
other related services. This collaboration underscores the
Company's commitment and continued success delivering cutting-edge
virtual content solutions tailored to the needs of customers across
a wide range of industries.
Global Mofy Metaverse noted it is benefiting
from accelerated growth driven by the AI revolution. According to a
Frost & Sullivan industry datasheet, Global Mofy Metaverse
believes it is one of the leading digital asset banks in China, as
it already controls more than 30,000 high-precision 3D digital
assets. High-precision is defined as 4K resolution with movie
precision. The Company recently reported record-high revenue for
fiscal year 2023, with over 56% growth compared to fiscal year
2022.
Global Mofy Metaverse's CEO, Mr. Haogang Yang,
said, "This major new customer order reflects the increased
business momentum we are seeing in 2024 as customers worldwide seek
ways to benefit from the excitement and growth from AI and the
digital entertainment industry.
"We are in the midst of an AI revolution and
benefitting along with companies worldwide. We are excited about
Global Mofy Metaverse's growth prospects for several reasons.
First, we have built one of the leading digital asset banks in
China. Demand and prices are steadily increasing for high-quality,
3D digital assets given that we are in a period of explosive growth
with content needed across diverse platforms from television,
advertising, video games, movies and more. Second, investments made
in Global Mofy Metaverse's proprietary technology platform, Mofy
Lab, give us a powerful competitive advantage and ability to scale
our digital asset bank faster. We believe that by providing
customers with a one-stop, lower-cost solution to create
high-quality, virtual content for the digital entertainment
industry, we will be able to drive further revenue and profit
growth for Global Mofy Metaverse, which in turn, will build greater
value for shareholders."
Mr. Yang continued, "Global Mofy Metaverse is
strongly positioned as a comprehensive technology solutions
provider that acts as a building block for the development of the
digital entertainment industry. In addition to continuously
optimizing our technology, we plan to further accelerate our
development of digital assets. We believe this will help further
expand our competitive advantage by leveraging our internal digital
asset development platform, along with potential strategic
partnerships and acquisitions. This in turn will help drive
long-term growth as digital assets have become integral to both
professional and personal lives, playing a central role in nearly
all aspects of today's society."
Global Mofy Metaverse primarily operates in two lines of
business (1) Virtual Technology Service, and (2) Digital Asset
Development and others:
Virtual Technology ServiceThe
Company provides a comprehensive technology solution to assist
customers in virtual content production, which can be used in a
variety of settings such as movies, television series, animation
advertising, gaming, and more. Leveraging its proprietary Mofy Lab
technology platform, the Company produces high-quality virtual
content quickly and cost-effectively to meet the highly
differentiated needs of its customers.
Digital Asset Development and
OthersGlobal Mofy Metaverse controls one of the industry's
largest digital asset banks. The Company grants specific use rights
of these digital assets to customers who use them based on their
specific needs across different applications such as movies,
television series, AR/VR, animation, advertising, gaming and more.
The Company's digital assets mainly consist of high-precision 3D
renders of scenes, characters, objects and items that can be
licensed for use in virtual environment. Depending on customers'
needs, these digital assets can be quickly deployed and integrated
with minimal customization, thus reducing project costs and
expediting completion time. With the rapid development of
Metaverse, the Company believes digital assets will become
increasingly valuable and have abundant use cases. Global Mofy
Metaverse plans to actively expand its digital asset bank and build
digital assets.
Global Mofy Metaverse's proprietary technology
platform, Mofy Lab, contains self-developed and optimized
technologies, including 3D rebuilt technology and AI interactive
technology, which can create 3D high-definition, virtual versions
of real-world objects, or digital assets, and provide a one-stop,
lower-cost solution to assist Metaverse companies in creating
high-quality virtual content.
About Global Mofy Metaverse Limited
Global Mofy Metaverse Limited (Nasdaq: GMM) is a
technology solutions provider engaged in virtual content
production, and the development of digital assets for the digital
entertainment industry. Utilizing its proprietary "Mofy Lab"
technology platform, which consists of interactive 3D and
artificial intelligence ("AI") technology, the Company creates high
definition virtual versions of a wide range of physical world
objects in 3D ranging from characters, objects to scenes and more.
The digital assets can be used in different applications, including
movies, TV series, AR/VR, animation, advertising, gaming, and more.
Global Mofy Metaverse is one of the leading digital asset banks in
China, which consists of more than 30,000 high precision 3D digital
assets. For more information, please visit www.globalmofy.cn/ or
ir.globalmofy.cn.
Forward-Looking Statement
This press release contains forward-looking
statements. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. When the Company
uses words such as "may," "will," "intend," "should," "believe,"
"expect," "anticipate," "project," "estimate" or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. These forward-looking statements
include, without limitation, the Company's statements regarding the
expected trading of its Ordinary Shares on the Nasdaq Capital
Market and the closing of the Offering. Forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are subject to
uncertainties and risks including, but not limited to, the
uncertainties related to market conditions and the completion of
the initial public offering on the anticipated terms or at all, and
other factors discussed in the "Risk Factors" section of the
registration statement filed with the SEC. For these reasons, among
others, investors are cautioned not to place undue reliance upon
any forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date
hereof.
For more information, please contact:
Global Mofy Metaverse Ltd.Investor Relations
Departmentir@mof-vfx.com |
Global IR PartnersDavid PasqualeGMM@globalirpartners.com |
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