Boyaa Interactive Plans to Invest 100 Bitcoin in Web3 Infrastructure and Gaming Company MTT ESports
Source: Game Data Research Institute
Boyaa Interactive (00434.HK) announced that on September 17, 2024, it entered into a subscription agreement with MTT ESports Limited ("MTT ESports") to invest 100 units of Bitcoin (BTC) in MTT ESports. Based on the market price of Bitcoin on the day prior to this announcement, this investment is equivalent to a total value of approximately 5.8193 million USD. This investment marks a significant milestone for Boyaa Interactive in the application of digital currency and blockchain technology, showcasing its forward-looking vision in emerging technology fields. Boyaa Interactive is renowned for its innovative gaming products and strong market influence, and this investment will further solidify its leadership position in the global gaming market.
Upon completion of the investment, the company will acquire a 25% equity stake in MTT ESports. MTT ESports will not become a subsidiary of the company as a result of this investment, and its financial performance will not be consolidated into the group's financial statements. According to the directors, after making all reasonable inquiries, MTT ESports and its beneficial owners are independent third parties, with no connections to the company or its related parties. This investment structure allows Boyaa Interactive to flexibly participate in the growth of MTT ESports while maintaining the independence of its financial statements. This flexible investment strategy enables Boyaa Interactive to explore and expand its influence in the Web3 and blockchain technology fields without affecting its core business.
MTT ESports is a limited liability company registered in the British Virgin Islands, focusing on the development and operation of Web3 infrastructure and Web3 games. It develops and owns the MTT Sports gaming platform and MTT Network. MTT ESports is known for its innovative technical solutions and rich gaming content, dedicated to providing a seamless gaming experience for players worldwide. The company is at the forefront of the industry in the application of Web3 technology, and its developed MTT Network is considered an important infrastructure for future gaming and digital entertainment.
MTT Sports offers numerous Texas Hold'em poker tournaments, allowing players to earn MTT token rewards with zero investment and zero-cost virtual token mining. These tournaments not only attract a large number of poker enthusiasts but also provide players with an opportunity to explore the world of virtual currency, further enhancing MTT Sports' influence in the global gaming market. MTT Sports' innovative model not only provides entertainment and challenges for players but also creates opportunities for them to acquire virtual assets, which is of significant importance in today's digital economy.
The CEO of Boyaa Interactive stated that this investment is part of the company's strategic development, aiming to further expand its influence in the Web3 and blockchain technology fields through collaboration with MTT ESports. Boyaa Interactive will continue to seek cooperation with industry leaders to drive technological innovation and market expansion. The company believes that through such collaboration, it will be able to provide users with a richer gaming experience and more value.
The CTO of MTT ESports stated that the collaboration with Boyaa Interactive will bring more resources and opportunities to the company, helping it accelerate technological development and market expansion. MTT ESports will continue to focus on innovation in Web3 technology and is committed to becoming a leading global digital entertainment platform.