ZW Data Action Technologies Entered into Strategic Cooperation Agreement with China Digital Culture for the Introduction of DeFi into the Fasting Growing Esports and Game Data Operation
ZW Data Action Technologies, an integrated online advertising, precision marketing, data analytics, and other value-added services company, announced that it entered into a strategic sales and cooperation agreement with China Digital Culture Limited, a Hong Kong-based investment holding company principally engaged in the culture and entertainment related businesses . Pursuant to the Agreement, through the Company’s Blockchain Infrastructure Framework (BIF) platform and by utilizing upgraded decentralized financial technology, the two parties will jointly operate IP data for e-sports and games. The Company expects to expand the Company’s existing business of Key Opinion Leader (KOL) and digital advertising through blockchain service into e-sports and gaming business, one of the fastest growing sectors in China.
Currently, decentralized finance (Defi) is mainly concentrated in four major sectors of decentralized lending, automated market makers, decentralized exchanges, and stable currency issuance. Defi is using the characteristics of blockchain tokens to gradually tokenize financial services. ZW Data and Digital Culture strive to introduce Defi, built on both Ethereum and Polkadot, into esports and game data operation, combining ZW Data’s KOL and O2O sales channel for additional revenue growth.
ZW Data has collected and accumulated marketing and transaction data for nearly 100 million users for precision digital marketing. Digital Culture has built a platform for entertainment and cultural contents with the top celebrities and ex-NBA players in Asia, including Jay Chou and Jeremy Lin. It has formed three main business segments of e-sports entertainment, sports, and cultural tourism, and its J-team is currently ranked No.1 in the last season of Pacific Champion Series.
Handong Cheng, Chairman and Chief Executive Officer of ZW Data, commented, “The Chinese game industry will have revenue of 278.6 billion yuan in 2020, and its user base will reach 665 million. Such a market space will bring immense opportunities. We believe that our Company and Digital Culture will use our respective capital, platform and resource advantages to jointly expand the development of blockchain, KOL and esports platform into our focused industries. We will help Digital Culture build an unbounded and free “game world” by putting e-sports and game data on the blockchain for record-keeping, digital asset exchange, advertising and marketing, and trading. We envision to expand blockchain technology application and e-sports data operation model into traditional industries, especially cultural and artistic industries, and eventually promote the development and enhance the value of traditional industries.”