HONG KONG SAR - Media OutReach - 31 May 2021 - MOVE Network has officially launched its first NFT (Non-Fungible Token) incubator in Hong Kong.

Non-fungible Token has recently become a social buzzword, while the relationship of NFT and digital art has aroused debates among the industry and the public. MOVE Network is committed to bringing unprecedented possibilities to the industry through fintech and blockchain technology. The newly launched MOVE Network will focus on one-stop NFT IP agents and distribution services as its core business, including NFT format conversion, product hosting, IP agents, and decentralized distribution to different NFT trading platforms. The local KOL.shop is an example of NFT content incubated by MOVE Network, in which KOL's digital photos and videos will be tokenized as NFT, while the new NFT products will be launched on the platform to provide a newer and more competitive sales channel. MOVE Network will also enhance the NFT industry chain to offer a wider range of applications on music, entertainment, sports, eSports and e-books etc. The diverse and comprehensive service package will also provide a new value as well as a business model and experience on intellectual property protection for the customers.

MOVE Network was co-founded and is led by experienced serial entrepreneurs. One of the co-founders, Ricky Ng, who is also Co-founder and Group CEO of Aladdin Technology Group, said that MOVE Network had linked up with many industry pioneers for collaboration, including the well-known film company The H Collective. The H Collective has been working with top producers and creative talents in Hollywood, and now it will work with MOVE Network to make a facelift through NFT on the business ecosystem in the film industry. Ricky also revealed that MOVE Network will announce the collaborative heavyweight partner at a later stage. He believes that the capabilities of MOVE Network will attract spotlights as a world-class NFT incubator.

Ricky added that MOVE Network not only aims to assist users to convert their digital content into digital assets but also provides a flexible sales solution for a more diversified auction category and combats intellectual property right infringements. In addition, most of the NFT products nowadays are based on several common public chains for decentralization. It is expected that MOVE Network can reduce the cost of each decentralized transaction and make transactions of the existing NFT product universal.

NFT is a blockchain-based technology that can tokenize digital content. Blockchain technology can form a unique signature to certify the ownership of the digital assets. The emergence of NFT is expected to introduce new business ideas and models to provide a standardized and anti-infringement trading platform for creators to enhance their autonomy and value.

About MOVE Network

MOVE Network sets out to be the world's largest NFT aggregator covering a wide spectrum of NFT products. MOVE Network allows enterprises and start-ups to capture value today by using blockchain technologies to trade, stake, create and auction assets. The MOVE Network comprises of the MOVE market, the $MOVD token and the MOVE Chain. Users can use MOVE Network to own NFT IPs covering entertainment, music, artwork and also eSports. The MOVE team collaborates with different IP distribution partners for NFT issuance in Asia and North America.

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