SHANGHAI, Dec. 03, 2024 — MultiMetaVerse Holdings Limited (NASDAQ: MMV), a leading Chinese animation and entertainment company targeting young consumers, announced a Hong Kong joint venture with Zhao Mingwei (“Big Bear”) and Li Yuanfeng. This partnership will leverage their expertise and resources in Bitcoin and Bitcoin mining.

MMV will own 80% of the new venture, with Zhao Mingwei and Li Yuanfeng each holding 10%. A board of directors representing all three parties will oversee operations. The company’s primary focus will be acquiring Bitcoin and Bitcoin mining equipment.

The joint venture aims to acquire 500 Bitcoins legally owned by Zhao and Li by June 2025, and an additional 1,000 Bitcoins by December 2025.

MMV will grant Zhao and Li 1 million shares each, contingent upon the NASDAQ closing price of MMV exceeding US$1.00 within two months of this announcement and either maintaining a closing price of no less than US$1.00 for ten consecutive trading days within that period, or the joint venture acquiring at least 50 Bitcoins. Failure to meet these conditions will result in the cancellation of the shares.

Zhao Mingwei (“Big Bear”) is a prominent Chinese financial blogger and digital currency expert, founder of Xiongke Group, and author of “IP Wealth Creation Field,” boasting over 10 million social media followers. His investment portfolio includes Haowen International, Caitang (acquired by Proya), and Guanyi Cloud Computing (acquired by Kingdee).

Li Yuanfeng is a renowned Chinese angel investor and blockchain technology expert. Previously the founder of Zhiyue Media (China) Holdings Co., Ltd., a Falcon Venture Capital partner, and a serial entrepreneur, he was recognized by 36Kr as a “Most Discovering Investor in China’s Sharing Economy.” His investments include Mipao, Delicious Life, Yuanding, Huifenqi, Werewolf Kill, and a pre-IPO investment in Inke.

Xu Yiran, MMV’s Chairman and CEO, stated, “We’re thrilled to partner with leading Chinese blockchain and digital currency experts to expand our business into global Bitcoin investment.”

Zhao Mingwei (“Big Bear”) commented, “Digital currency is a key global investment opportunity warranting in-depth analysis. Digital assets, born from increased economic globalization, present both challenges and opportunities for the real economy and financial systems.”

Li Yuanfeng added, “A Bitcoin price of $100,000 would broaden mainstream appeal. Investing before this threshold allows us to capitalize on future price appreciation.”

About MultiMetaVerse Holdings Limited

MultiMetaVerse Holdings Limited (NASDAQ: MMV) is an animation and entertainment company delivering high-quality, immersive entertainment experiences through original and user-generated content. Since 2015, MMV has produced animations under its flagship brand, Aotu World, popular with young Chinese audiences. Leveraging its user base, MMV offers a diverse product portfolio including animations, comics, short videos, collectibles, stationery, consumer goods, and mobile games under the Aotu World and Neko Album brands.

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This release includes forward-looking statements, identifiable by terms like “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” and similar expressions. These statements, including descriptions of future commercial operations, are based on current assumptions and expectations and are subject to risks and uncertainties. Actual results may differ materially due to factors such as the Company’s inability to execute its plans, identify opportunities, or meet financial projections, and changes in the regulatory or competitive landscape. Refer to the Company’s Annual Report on Form 20-F and other SEC filings for further details on risks. All information is current as of today’s date, and the Company disclaims any update obligation except as required by law.

For more information, please visit https://www.multi-metaverse.com/.
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