ZW Data Action Technologies Inc. partners with Forbes Global Alliance to jointly launch NFT products
BEIJING, July 26, 2022 (GLOBE NEWSWIRE) — ZW Data Action Technologies, Inc. (Nasdaq: CNET ) (“ZW Data” or the “Company”), an integrated online advertising, precision marketing, data analytics and other value-added services company , announced today 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 benefits.
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, brand and technology consultancy. Since its establishment in 1917, Forbes has created and accumulated vastly valuable Intellectual Property (“IP”) series and content, including the World’s Most Innovative Companies List, Forbes World’s Billionaires, Forbes China Rich List and more.
This collaboration with FGA is another important initiative for the company to continue its expansion into the NFT market, following the collaboration with China Digital Culture (HKG:08175) and Guangzhou Digital Gold Information Technology Co., Ltd on IP. The company will establish a digital fundraising platform for FGA, and co-publish 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 more rare content and different presentation formats such as brands, paintings and videos. Combined with the “uniqueness” and “perpetual preservation” features of NFT, FGA’s NFT products will have exhibition and collection values. FGA and ZW Data plan to collaborate with more artists and market the NFT products to the international market. The company expects the IP and network resources from FGA to be a booster for its NFT products, which could become one of the most important methods for FAG to generate revenue in the future.
– The emergence of NFT has changed the traditional virtual goods trading model, and the collaboration with FGA is a new attempt by ZW Data in NFT + digital publishing. We envision 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 increase the value of traditional industries. The global NFT trade volume has increased since 2021. According to 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 about 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 rapid growth. We are confident in the future development of the NFT market and believe that this collaboration with FGA will greatly benefit our revenue growth going forward,” commented Handong Cheng, chairman and CEO of ZW Data.
About ZW Data Action Technologies Inc.
Established in 2003 and headquartered in Beijing, China, ZW Data Action Technologies Inc. (the “Company”) provides online advertising, precision marketing, data analytics and other value-added services to corporate clients. Leveraging its fully integrated service platform, proprietary database, and cutting-edge algorithms, ZW Data Action Technologies delivers customized, results-driven business solutions for small and medium enterprise customers in China. The company also develops blockchain and artificial intelligence-enabled web/mobile applications and software solutions for the general public, corporate customers and government agencies. More information about the company can be found at: http://www.zdat.com/.
About Forbes Global Media Holdings Inc.
Established in 1917, Forbes is an international media, branding and technology consultancy specializing in covering finance, international business, marketing, entrepreneurship, travel and lifestyle. Forbes champions success by celebrating those who have made it, and those who want to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. Today, the Forbes brand reaches more than 150 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, customized marketing programs and 45 licensed local editions covering 76 countries. Forbes Media’s brand extensions include real estate, education and financial services licensing agreements. More information can be found at: https://www.forbes.com/connect/who-we-are/.
About the Forbes Global Alliance
Forbes Global Alliance (FGA) is a global exchange platform under the Forbes Media Group. FGA relies on Forbes’ global influence and cross-industry resources, and is deeply integrated with Forbes China. Through diverse and tailored online and offline content and events, we offer our members unique opportunities to learn, flourish and succeed. FGA has created an elite service community that meets the needs of members at various life stages and career levels. Similar to the mission of Forbes Councils in the US, we are committed to convening future industry leaders to establish a boutique elite networking community by offering unparalleled benefit portfolios, helping each member increase social influence, thereby carving out their new frontier for life. More information can be found at: https://www.fgacn.com/index.php?p=gywmen.
Safe Harbor Statement
This release contains certain “forward-looking statements” relating to the business of ZW Data Action Technologies Inc., which can be identified by the use of forward-looking terminology such as “believes”, “expects”, “anticipates”, “estimates” or similar expressions. Such forward-looking statements statements involve known and unknown risks and uncertainties, including business uncertainty related to government regulation of our industry, market demand, dependence on key personnel, future capital requirements, competition in general and other factors that could cause actual results to differ materially from those described herein as anticipated, assumed, estimated or anticipated. Certain of these risks and uncertainties are or will be described in more detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ZW Data Action Technologies Inc.’s current expectations and beliefs regarding future development and their potential effects on the company. No assurance can be given that future developments affecting ZW Data Action Technologies Inc. will be those expected by ZW Data Action Technologies Inc. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions which could cause actual results or performance to differ materially from those expressed or implied in such forward-looking statements. ZW Data Action Technologies Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
For more information, please contact:
Sherry Zheng
Weitian Group LLC
Email: [email protected]
Phone: +1 718-213-7386
