Metaverse, Inc. Acquires Profitable NFT Business Through a 51% Interest in Maharlika Culture & Art Domain Company
WEST LAKE VILLAGE, March 14, 2023 (GLOBE NEWSWIRE) — Metaverse, Inc. (OTC: DEQI), a leading provider of product development and digital marketing services, today announced it has acquired a 51% interest in Maharlika (Hainan) Culture well-known & Art Domain Co., LTD, an innovative art asset management company.
Headquartered in Hainan, China, Maharlika offers third-party appraisal of paintings, antiques and digital art objects. In addition, the company offers its clients unparalleled collection, financing, exhibition, exchange, restoration and consulting support for cultural relics and works of art.
Maharlika’s main specialty is the use of NFTs (Non-Fungible Tokens) to facilitate art trading. NFTs are digital assets based on blockchain technology that can represent ownership of artwork, music, video, and other digital works. They also provide new tools and opportunities for art institutions to determine the provenance of physical artworks and antiques.
Through the use of NFTs, Maharlika provides a more accurate and transparent method of evaluating art. The authenticity, uniqueness, price history and ownership of individual pieces can be ensured and tracked over time. The process of using NFTs for artworks involves authenticating and scanning an object, creating an NFT, assessing its value, and determining historical provenance.
Provenance refers to the history of ownership and custody of a work of art. It documents the movement of a piece from its creation to the present day, including the names of previous owners, auction records, exhibition histories and other relevant information. In the art trade, provenance is crucial as it helps determine the authenticity and value of an artwork.
The acquisition of a majority stake in Maharlika aligns with Metaverse, Inc.’s mission to foster the development and innovation of blockchain technology across multiple industries, including wealth management. It also aligns with the company’s commitment to providing cutting-edge services to its customers by combining the physical and digital worlds.
With this acquisition, Metaverse, Inc. becomes a leader in the Web3 industry, leveraging advanced technology to provide reliable, impartial, and accurate arts services. “We are excited about the acquisition of Maharlika and pioneering the use of NFTs for art valuation,” said David Davies, CEO of Metaverse, Inc. “This strategic move complements our existing business and strengthens our presence in the art market. We look forward to working with the talented team at Maharlika to bring value to our customers.”
About Metaverse, Inc.
Metaverse, Inc. is a provider of software development, digital marketing, branding, and asset management services in the fields of AI, social media, web3, art, and augmented reality. The company also develops NFTs and virtual real estate products. Visit our website to learn more about our products and sign up for updates at:
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SOURCE: Metaverse, Inc.
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