Bonanza Goldfields Corp (OTCMKTS:BONZ) jumped 126% after signing an MOU to purchase a 100% stake in Marvion Media Limited.Marvion Media is a metaverse blockchain tech firm enhancing, unlocking, and preserving entertainment and medial intellectual property value via blockchain and associated techs in creating hybrid NFTs.
Its vision is to offer the ultimate fan and artist engagement and leverage tech in physical and digital metaverse experiences. Marvion will adopt its Hybrid NFT format in all minted NFTs, with the h—NFTs undergoing KYC and verification processes before Marvion acquires the IP. Most importantly, this will ensure that the platform will only have high-quality and authentic NFTs.
Marvion’s Interim CEO Julian So said their focus is addressing the main concern that NFT owners face, which is Intellectual Property ownership. So, added that most of the NFT investors they have engaged are unaware that as NFT owners, they don’t own underlying intellectual property related to the art in the NFT smart contract. Therefore, in the coming weeks, BONZ is worth watching.
Market Reaction:
On Monday, BONZ stock soared 127% at $0.0136 with more than 221.97 million shares, compared to its average volume of 4.36 million shares. The stock has moved within a range of $0.0103 – 0.0360 after opening the trade at $0.0110.
