Metaverse, Inc. acquires profitable NFT business via 51% stake in Maharlika Culture & Art Domain Company
West Lake Village, March 14, 2023 (GLOBE NEWSWIRE) — Metaverse, Inc. (OTC: DEQI ), a leading provider of product development and digital marketing services, today announced its acquisition of a 51% stake in Maharlika (Hainan) Culture & Art Domain Co., LTD, an innovative art asset management company.
Headquartered in Hainan, China, Maharlika offers third-party appraisals for paintings, antiques and digital art assets. In addition, the company provides its customers with unparalleled assistance in the areas of collection, financing, display, exchange, restoration and consultancy for cultural monuments and works of art.
Maharlika’s main specialty is leveraging NFTs (Non-Fungible Tokens) to facilitate art trading. NFTs are digital assets based on blockchain technology that can represent the ownership of artwork, music, video and other digital works. They also provide new tools and opportunities for art institutions to determine the provenance of physical works of art and antiquities.
Through the use of NFT, Maharlika provides a more precise and transparent way of assessing art. The authenticity, uniqueness, price history and ownership of individual pieces can be ensured and tracked over time. The process of using NFTs for artwork includes authenticating and scanning an item, creating an NFT, assessing its value, and establishing historical provenance.
Provenance refers to the history of ownership and custody of a work of art. It documents the movement of a piece from its creation to the present day, including the names of previous owners, auction documents, exhibition histories and any other relevant information. In the art trade, provenance is essential as it helps to establish a work of art’s authenticity and value.
The acquisition of a majority stake in Maharlika is in line with Metaverse, Inc.’s mission to promote the development and innovation of blockchain technology in various industries, including asset management. It is also in line with the company’s commitment to offer cutting-edge services for its customers by combining the physical and digital worlds.
With this acquisition, Metaverse, Inc. is set to become a leader in the Web3 industry, using advanced technology to provide reliable, unbiased and accurate services in the arts sector. “We are excited about the acquisition of Maharlika and its pioneering use of NFTs for art valuation,” said David Davies, CEO of Metaverse, Inc. “This strategic move complements our existing business and strengthens our presence in the art market. We look forward to to work with the talented team at Maharlika to bring more value to our customers.”
About Metaverse, Inc.
Metaverse, Inc. is a provider of software development, digital marketing, branding and management services in AI, social media, Web3, art and augmented reality. The company also develops NFTs and virtual real estate products. Visit our website to learn more about our products and sign up for updates at:
https://www.metaverseincorp.com/
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Forward-looking statements
Certain statements in this press release contain forward-looking statements that are based on management’s expectations, estimates, projections and assumptions. Words such as expect, expect, plan, believe, planned, estimates and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Therefore, actual future results and trends may differ materially from those projected in forward-looking statements due to a number of factors.
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SOURCE: Metaverse, Inc.
CONTACT: Investor Relations: 3835 East Thousand Oaks Blvd Suite 158 West Lake Village, CA 91362 [email protected]
