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UA Multimedia Provides Corporate Updates and Announces Near Term Cryptocurrency Business Plan

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Irvine, California–(Newsfile Corp. – March 15, 2021) – UA Multimedia, Inc. (OTC Pink: UAMM), a holding company and solution provider in the area of blockchain, cryptocurrency, fintech and decentralized finance, is pleased to provide corporate updates and announce near term cryptocurrency business plan.

General Corporate Update

Due to the unfriendly cannabis business environment in the past few years, the Company pivoted to blockchain technology in late 2019 and set it as the focus going forward. Due to the business disruption caused by the COVID-19 pandemic in early 2020, UA Multimedia’s operation has been minimal until late last year.

To position for organic and external growth via mergers and acquisitions, management had filed all the late periodic reports and brought the Company current with OTC Markets. In addition, it has secured and cancelled 70M restricted shares of its Common stock, reducing the total outstanding shares by 19% to 305.6M.

The Company has experienced healthy growth in the cryptocurrency segment since Q4 of 2020. Transactions related to Bitcoin have been steady and are expected to remain so for the foreseeable near future.

The Company is in negotiation to acquire a controlling interest in a small crypto exchange. More details about the acquisition will be provided once the transaction has been consummated.

Among other to be announced corporate updates, the Company aims to fulfill all requirements and uplist to OTCQB as soon as practicable.

Blockchain Solution Provider

UA Multimedia together with its technology and business partners is a solution provider for a wide range of digital asset applications.

On the technology front, the Company offers full cycle development services of blockchain applications related to token creation, smart contract, fintech and decentralized finance (DeFi). The tokens and alt-coins created will primarily be for the Ethereum blockchain using the ERC-20 standard for fungible tokens and ERC-721 or ERC-1155 for nonfungible tokens.

On the business front, the Company offers to assist with token listing, marketing and capital raising. All token sales will comply with the appropriate regional’s required regulations.

Business Opportunities and Product Development

In addition to technical consulting services, the Company is considering a number of other revenue streams related to DeFi such as swapping, staking and yield farming. The Company is also considering to develop platforms for these services sometime in the future.

Nonfungible tokens (NFT) have recently emerged as a disruptive blockchain application for creators and collectors of digital works of art. Creators of digital arts or media contents can now sell their collectible or limited edition work by representing them with NFTs and sell them on various marketplaces.

As part of a media and technology company, UA Multimedia plans to acquire and resell various digital collectibles via NFTs. In addition, the Company is evaluating the business case of developing its own NFT marketplace similar to OpenSea or Rarible.

The Company also sees many other viable applications for NFTs and plans to explore them in the near future.

Other Updates

After some years of unfriendly cannabis environment, the sector is showing signs of revival under the new administration. The Company has a couple of cannabis projects that have been placed on hold that it considering to revamp should it see more favorable developments in the sector. New development on these projects could be coupled with blockchain or cryptocurrency for added functionality and values.

To incentivize its users and affiliates with various engagements, the Company plans to create utility or security tokens as part of the new projects under consideration. More details regarding the projects will be provided as business develops.

“The recent rise in cryptocurrency momentum in general and Bitcoin in particular have presented a wide variety of business opportunities for UA Multimedia,” stated Michael Lajtay, interim Chief Executive Officer. “If properly implemented, applications using blockchain and Ethereum can disrupt many existing ways we currently conduct businesses. Our goal is to improve functionality and create values by exploiting these technologies,” continued Lajtay.

About UA Multimedia, Inc.

UA Multimedia, Inc. is a solution provider specializing in blockchain, cryptocurrency, fintech and decentralized finance (DeFi). It is also a holding company seeking to acquire domestic and foreign entities who are in the same space.

Company website: http://www.uammedia.com
Facebook: https://www.facebook.com/uamultimedia
Twitter: https://www.twitter.com/uamultimedia

Forward Looking Statements:

This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the Company and its management team. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management’s control. UA Multimedia, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contact

UA Multimedia, Inc.
Investor Relations
949.229.1208
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77264

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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