Active Lifestyle Media parent company JZZ Technologies Inc (OTCMKTS:JZZI) and AdventGalaxy, a wholly-owned subsidiary of TGI Solar Power Group Inc on September 12, 2022, confirmed entering into a Joint Venture agreement for forming a metaverse-based media platform.
Trading Data
On Monday, JZZI stock ended flat at $0.0014 with more than 68.89 million shares, compared to its average volume of 10.89 million shares. The stock moved within a range of $0.0014 – 0.0023 after opening trading at $0.0018.
JZZ Technologies, Inc. and TGI Subsidiary AdventGalaxy Form Metaverse-Based Media Platform Joint Venture
Named XR Active Lifestyles, the new venture will share content, data as well as marketing opportunities managed by both firms. J2Z and TGI will own half of the new venture and will be sharing revenue on a 50/50 basis. Florida-based ADVENT EXPO is a 3D/VR/AR/XR digital community being developed for important social interactions between people of different age groups and backgrounds. The JV will augment the portfolio of total owned brands and the combined database shared by firms will have more than 50 million user records.
The JV will develop a galaxy for serving audiences of Active LifeStyle Media’s other digital properties in the metaverse. The new platform will broaden the reach across magazines, conferences, events, and data services.
Henry Val, CEO of TGI said that the xractivelifestyles.com platform is aligned with the ADVENT EXPO strategy. Val added that it has a mission to create content connecting market-leading titles.
Charles Cardona, CEO of JZZ Technologies said that Active Lifestyle’s new digital team’s expertise complements the capabilities of both entities. Cardona added that it will create a novel platform with an exciting growth trajectory.
The JV will augment EXPO’s reach to an additional database of 30+ million users enhancing its position in fitness, wellness, music, fashion, business, and consumer goods.
Key Quote
Henry Val, CEO of TGI, stated, “The xractivelifestyles.com platform is clearly aligned with the ADVENT EXPO™ strategy and in its mission to create content that connects with market leading titles. This JV supports our strategy of growth organically and through acquisition, global expansion, and revenue diversification.”
Technical Data
JZZI stock is trading below the 20-Day and 50-Day Moving averages of $0.0016 and $0.0021 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0044. The company has a total market capitalization of $635K.
