Boyaa Interactive (Hong Kong Stock Code 00434) Makes Further Investment in Web3 Project MTT ESports
Boyaa Interactive (00434) has announced that on February 17, 2025, the company signed a token warrant subscription agreement with MTT ESports Limited (MTT ESports). The company will make a further investment (Second Investment) in MTT ESports with 4,180,700 Tether (USDT) as consideration (equivalent to approximately US$4,180,700 based on the market price of Tether on the day prior to this announcement). Upon completion of the Second Investment, the Group will acquire 10% of the total issuance of MTT tokens, amounting to 210 million MTT tokens. The acquired MTT tokens are expected to begin linear unlocking from January 2026, with complete unlocking over approximately 48 months.
Combined with the Group's First Investment in MTT ESports made on September 17, 2024, where the Group signed a subscription agreement with MTT ESports using 100 Bitcoin (BTC) as consideration, the total investment value in MTT ESports after completion of the Second Investment will be equivalent to approximately US$10 million. This series of investment initiatives fully demonstrates Boyaa Interactive's high recognition of the Web3 field and determination for strategic deployment, as well as the Group's forward-looking vision in emerging technology sectors.
MTT ESports is a limited liability company registered in the British Virgin Islands, focusing on the research, development, and operation of Web3 infrastructure and Web3 games. The company has an experienced international team with members from globally renowned blockchain technology companies and game development enterprises, possessing deep technical expertise and market operation experience. MTT ESports has developed and owns two core products: the MTT Sports gaming platform and MTT Network, dedicated to creating a globally leading Web3 gaming ecosystem.
The MTT Sports gaming platform is an Esports application supporting both PC and mobile terminals, officially launched to the market in 2024, with the goal of creating an international top-tier competitive event brand. By offering free tournament participation, the platform allows global gaming users to enjoy high-quality event experiences without financial investment, lowering user participation barriers and enabling more players to participate in esports competitions in a healthy and positive manner. With its unique creative design, excellent user experience, and solid technical capabilities, the MTT Sports gaming platform has quickly gained recognition and appreciation from a large number of users through independent research and development and refined operations. As of the date of this announcement, the MTT Sports gaming platform has accumulated over 500,000 registered users, with the user base widely distributed across more than 20 countries and regions including Southeast Asia, Europe, and Latin America, showing strong global development momentum.
MTT Network is a high-performance blockchain in the Cosmos ecosystem, compatible with EVM (Ethereum Virtual Machine), capable of executing smart contracts written in Solidity or other mainstream programming languages. As the underlying technology carrier for the MTT Sports gaming platform, MTT Network effectively enhances the competitiveness, fairness, and security of events, ensuring transparency and trustworthiness in the gaming process. As the first event application on MTT Network, the MTT Sports gaming platform has successfully verified MTT Network's technical strength and application potential, laying a solid foundation for the expansion of more application scenarios in the future.
MTT token is the governance token of the MTT Network blockchain, playing an important role in driving network operation, community governance, and ecosystem value capture. MTT token was officially launched on the Ethereum network in April 2024, and through cross-chain mapping technology, token value and information are seamlessly transferred to the MTT Network mainnet, achieving efficient circulation and management of cross-chain assets. The maximum total issuance of MTT tokens is limited to 2.1 billion, and as of the date of this announcement, approximately 40 million tokens are circulating within the MTT Sports gaming platform, with positive market response and continuously increasing user engagement.
The Board believes that the MTT Sports gaming platform has strong complementarity with the Group's traditional gaming business, effectively expanding the Group's influence among young user groups and further enriching the Group's product matrix. At the same time, the Board highly recognizes the enormous growth potential of the MTT Sports gaming platform in the global esports market, believing that its innovative business model and leading technological advantages will bring significant long-term value growth to the Group. Through strategic investment in MTT ESports, the Group hopes to leverage its leading position in the Web3 gaming field to achieve deep deployment in emerging technology areas, further enhancing the Group's future asset value and market competitiveness.
This Second Investment will further promote the Group's business development and strategic layout in the Web3 field, also indicating that the Group will continue to deepen its presence in the Web3 field, actively seize the historic opportunities presented by Hong Kong's Web3 new policies, and fully leverage the Group's rich experience and resource advantages in the internet gaming industry, committed to building a pure, leading Web3 listed company. In the future, Boyaa Interactive will continue to pay attention to technological innovation and market dynamics in the Web3 field, actively explore more cooperation opportunities, and promote the diversification and long-term sustainable growth of the Group's business.