SINGAPORE, Jan. 25, 2022 /PRNewswire/ -- Bonanza Goldfields Corp. (OTC:BONZ) is pleased to announce that a Hybrid-NFT™️ (h-NFT) for the New Gold Penny of Henry III was successfully bid for GBP 18,000 at a renowned collectors' auction house dating back to 1600s on 23 January 2022 in a partnership with Coinllectibles. The latest h-NFT follows the successful sale of film premiere tickets, movie posters, and drama stills minted into h-NFTs from "Lockdown" thriller, and "Forensic Psychologist" by Phoenix Waters Productions.
Marvion's trademarked Hybrid NFT™️ was used, which contains the digital ownership title (DOT) to the private and commercial licences described therein with respect to the video Mp4 4k UHD file of the New Gold Penny of Henry III. These licences, together with a contractual obligation not to issue another identical h-NFT (meaning that this h-NFT is one of a kind), are minted into the h-NFT and uploaded onto the blockchain for full authenticity and transparency.
Commenting on the usage of a h-NFT in the successful auction, Gerald Gn, Head Corporate Finance of Marvion™️ said, "We are honoured that our h-NFTs are widely adopted across industries, in this case, the arts and collectibles industry. Our h-NFTs are unlike any other, and is an integrated, best in class, digital ownership title (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. We aim to work with more partners to bring such exclusive, unique and diversified h-NFTs to the community in the near future."
The Bonanza Goldfields Corporation is developing business initiatives joining the latest blockchain technologies, through market merger and acquisitions to develop advanced media distribution solutions.
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.
More Information about Marvion™️:
About Hybrid NFT™️ (h-NFT)
A h-NFT is an integrated, best in class, digital ownership title (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 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.
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SOURCE Bonanza Goldfields Corp.