Marvion™️ has launched the inaugural movie remake hybrid DOTs for sale on its MetaStudio on 8 June 2022, Open to all users to buy or secure those Hong Kong Classics IP for remake.
This comes after the successful acquisition of 10 licences for each of 10 types of adaptation rights from a portfolio of 20 movies from Euro Amazing Limited for a value of US$10million in Apr 2022. To recap, the acquisition covers the purchase of perpetual worldwide license for each movie to allow Marvion™️ to own the associated licensing, sub-licensing rights in whole or in part, as well as associated territorial rights to mint 10 digital ownership tokens (DOTs) per category for 10 categories of adaptation rights derived from each movie.
With the emergence of Web 3.0, Marvion™️ is taking a huge step forward by creating an ecosystem for Intellectual Property (IP) licensing business. According to Julian So, Vice Chairman of Marvion™️, “Marvion™️ aims to gradually make the IP licensing market easily accessible to IP collectors and passionate content creators around the world by initially launching a small collection of IP Remake Digital Ownership Tokens (“DOTs”). Prospective buyers can browse through a variety of IPs on our MetaStudio and purchase them as DOTs in just a few clicks. We remain committed to adopt and implement Web 3.0 technologies to disrupt the IP licensing business, to enhance efficiency and productivity and to ultimately improve people’s lives. The possibilities are limitless.”
How does it work?
Marvion™️ purports to disrupt the IP licensing business and the movie industry beginning with classic Hong Kong films. MarvionTM discerns that the IP licensing business has a multitude of opportunities, and has decided to use its proprietary “Digital Ownership Tokens” (DOTs) technology to reform the film IP licensing business. DOTs enable the IP licensing business to expand globally, minimize the business development and operating costs, and greatly reduces the operational and financial risks of the IP creation and licensing process.
By purchasing these DOTs, each buyer will have a one-time only right to remake the specific movie title into a new movie, drama series, comics, novel, animation movie, animation series or other production depending on the license embedded into the DOT, for private and/or commercial purposes and the right to retain all revenues arising from such new production and any merchandise arising solely from such new production to the exclusion of the owner of the copyright. Such right shall exist in perpetuity until it has been exercised, in which event, it shall immediately expire and cease to exist.
These three Hong Kong classics IP Remake DOTs for the first drop on its MetaStudio. including:
- The Sparkle in The Dark (2007/ Action)
The original was released in 2007 with a theme that focused on triads, which was vastly popular in Hong Kong back in the days. Therein lies potential for a brand new remake with gamification options such as “multi-player role playing games”.
2. Toothless Vampires (1987/ Drama)
A big hit in 1987 when it was first released, this IP is due for another successful iteration. The original film tells the story of a group of disqualified vampires being deported from the vampire realm to make a living in a foreign country. The horror genre has proven to be popular amongst NFT communities because of the versatility in character development and has potential in gamifications such as Tower defence games or Third-person shooter games.
3. Sweet Revenge (2006/ Eternal)
The original film portrays a series of contradictions and conflicts that occurred when a girl, with an incurable disease, accidentally discovered that the brother she knew might be the murderer of her parents. The storyline of this IP challenges the concept of human nature – the good, and the bad. Similar to the Academy award winning film – Parasite (2009), this IP has the potential to be reworked into another masterpiece.
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 building an ecosystem and a metaverse for the media and entertainment industry that implements and adopts blockchain and NFT technologies, through mergers and acquisitions.
Marvion is a metaverse technology company in the media and entertainment industry, focusing on movies, drama, animation, comics, music and games that provide content and entertainment to adults and children alike. Although most media and entertainment content are digital in nature today, they exists in the real world as intangible assets, such as intellectual property, licenses and contractual rights, with intrinsic value.
Marvion applies blockchain and NFT technologies as tools to disrupt and improve the existing media and entertainment industry and its current practices. The technology underpinning NFTs (non-fungible tokens) has multiple functional use cases, some of which have the power to transform our societies, and some of which may be subject to regulations. Marvion uses NFT technology solely to create a legally-binding digital ownership token (DOT) to both tangible and intangible media and entertainment assets, which our analysis suggests would functionally fall outside any regulatory perimeter.
About Hybrid DOT (h-DOT)
A h-DOT is an integrated, best in class, digital ownership token (DOT) that contains a smart contract that can execute transactions and also contains the specific legal terms of the intellectual property ownership, license and/or rights. Each Hybrid DOT (h-DOT) 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-DOT holder.
- Image/video/music or other file depending on what the asset is.
SOURCE Bonanza Goldfields Corp.