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Marvion Partners with OKEx NFT Marketplace to sell the World’s First Hybrid-NFTs on 5 Oct 2021

Bonanza Goldfields Corp. plans to acquire Marvion and is pleased to announce that the group will be launching the world’s first hybrid-NFTs (h-NFTs) on the OKEx NFT marketplace on 5 October 2021. 

Being Asia’s 1st NFT film, “Lockdown” is an international thriller that features a global cast including Xander Berkeley (The Walking Dead) and Hong Kong actress Anita Chui (OCTB).  

The film is slated to release in the UK on 23 November 2021 and the UK Premiere screening has been scheduled to be on 7 October 2021. In support of the UK launch of the movie, Marvion will be releasing 2 limited-edition film h-NFTs and 5 limited-edition UK premiere h-NFTs on the OKEx NFT marketplace. Marvion has chosen the OKChain to mint these h-NFTs because it adopts a Delegated Proof of Stake (DPoS) consensus mechanism being even more energy efficient than PoS, which is already drastically more efficient than the Proof of Work consensus mechanism.  

For the film h-NFT, the buyer will own the movie file as well as the non-exclusive perpetual worldwide non-commercial and non-profit license to privately view the movie in private premises and will have a copy of the sale and purchase agreement (SPA) for the license to mint and sell NFTs in respect of the film, all stored on the blockchain. Based on its terms, the h-NFT owner would also be able to resell the h-NFT after viewing. For the UK premiere h-NFTs, each h-NFT will contain a pair of exclusive invites for its holder to attend the gala premiere with the actors as well as industry insiders. The tickets will also give them access to any subsequent online events and community sessions with the cast. After the event, the art work of the ticket contained in the h-NFT should also be collected as a valuable memory of a rare beautiful unique experience.  

With respect to the upcoming h-NFT launch, Julian So, Advisor to BONZ and Interim CEO of Marvion said, “We are extremely excited to launch the world’s first hybrid-NFTs on the OKEx NFT marketplace, after careful consideration of any environmental cost. This launch is groundbreaking in the sense that it opens up a completely new and innovative way for film enthusiasts and movie-goers to be immersed in a holistic movie experience. We hope this can revolutionise the traditional movie industry and allow the community to not just watch the film, but to also be able to own collectibles and movie memorabilia from the film itself by way of buying the h-NFTs.”  

Commenting on the launching of h-NFT on OKEx NFT marketplace, Julian said, “We are happy to be listing our h-NFTs on OKEx as they are one of the largest platforms in the world with daily trading volume in excess of US$4billion. More importantly, the DPoS consensus mechanism for their chain also has one of the lowest environmental cost, which was also an important deciding factor for the producer of the film, Mr Bizhan Tong, our good partner.”  

About BONZ 

Bonanza Goldfields Corporation is a Las Vegas based mining and mineral exploration company, exploring gold and silver properties located in Goldfield, Tonopah and Comstock Mining Districts of Nevada, and the Chloride Mining District of Arizona. 

The group is developing new business initiatives joining the latest blockchain technologies, through market merger and acquisitions to apply NFT into the media industry. 

About Marvion  

Marvion is a metaverse blockchain technology company, unlocking, enhancing and preserving the value of media and entertainment intellectual property through blockchain and related technologies to create Hybrid NFTs. The company’s vision is to offer the ultimate artist and fan engagement, leveraging technology in both digital metaverse and physical experience realms.  Marvion will be adopting their Hybrid NFT (h-NFT) format across all minted NFTs. The h-NFTs will undergo full know-your-client (KYC) and verification processes prior to Marvion acquiring the intellectual property. This is to ensure that only authentic and high quality NFTs are available on the platform. 

About Hybrid NFT (h-NFT) 

A h-NFT is an integrated, best in class, smart contract that can execute the transaction and also contains the specific legal terms of the intellectual property ownership, license and/or rights. Each Hybrid NFT (h-NFT) contains the following: 

  • A copy of the SPA for the purchase of the master license. 
  • Evidence or warranty of ownership of the relevant intellectual property. 
  • Ownership of the sub-license detailing the rights of the h-NFT holder. 
  • Image/video/music or other file depending on what the asset is.

Photo by Mario Schmidt on Pixabay

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