ZW Data Action Technologies Inc. Partners with Forbes Global Alliance to Jointly Launch NFT Products

By: ZW Data Action Technologies Inc. via GlobeNewswire

July 26, 2022 at 07:30 AM EDT

BEIJING, July 26, 2022 (GLOBE NEWSWIRE) -- ZW Data Action Technologies, Inc. (Nasdaq: CNET) ("ZW Data" or the "Company"), an integrated online advertising, precision marketing, data analytics, and other value-added services company, today announced that it entered into a cooperation agreement with Forbes Global Alliance (“FGA”), to build the Forbes China Group Digital Collection Platform to launch NFT Products and jointly operate the platform data by leveraging the two parties’ respective capital, platform and resource advantages.

Forbes China Group, under Forbes Global Media Holdings Inc. (“Forbes”), is an international company that combines media and community and focuses on China’s business sector. It owns Forbes China and Forbes Global Alliance. FGA is a global exchange platform that unites and cultivates outstanding Chinese talents. Forbes is an international media, branding and technology consultancy company. Since its establishment in 1917, Forbes has created and accumulated vast valuable Intellectual Property (“IP”) series and contents including The World's Most Innovative Companies List, Forbes Worlds Billionaires, Forbes China Rich List, and more.

This cooperation with FGA is another important initiative for the Company to continue its expansion to the NFT market, following its cooperation with China Digital Culture (HKG:08175) and Guangzhou Digital Gold Information Technology Co., Ltd on IP. The Company will establish a digital collection platform for FGA, and co-release a limited number of FGA’s NFT products, offering services including but not limited to web hosting, digital marketing and content delivery. FGA’s NFT products contain several rare contents and various presentation formats such as badges, paintings, and videos. Combined with the “uniqueness” and “perpetual retention” features of NFT, FGA’s NFT products will have exhibit and collection values. FGA and ZW Data plan to collaborate with several artists and promote the NFT products to the international market. The Company expects that the IP and networking resources from FGA will be a booster for its NFT products, which could become one of the major methods for FAG to generate revenues in the future.

“The emergence of NFT has changed the traditional virtual commodity trading model, and the cooperation with FGA is a new attempt of ZW Data in NFT + digital publishing. We envisage that we are able to launch more digital assets online through the NFT platform by building a multi-industry blockchain application platform, as we always aim to expand NFT applications to more industries, promote NFT development and enhance the value of traditional industries. The global NFT trading volume has been increasing since 2021. According to the China Digital Collections (NFT) Market Analysis Summary 2021 issued by science.china.com.cn, since 2021, about 4.56 million digital collectibles were issued in China with a total market value of approximately 150 million RMB. In April 2022, about 5 million digital collectibles were issued in one month with a total value of 230 million RMB, showing a rapid growth. We are confident about the future development of NFT market and believe that this cooperation with FGA will largely benefit our revenue growth going forward,” commented Handong Cheng, Chairman and Chief Executive Officer of ZW Data.

About ZW Data Action Technologies Inc.

Established in 2003 and headquartered in Beijing, China, ZW Data Action Technologies Inc. (the “Company”) offers online advertising, precision marketing, data analytics and other value-added services for enterprise clients. Leveraging its fully integrated services platform, proprietary database, and cutting-edge algorithms, ZW Data Action Technologies delivers customized, result-driven business solutions for small and medium-sized enterprise clients in China. The Company also develops blockchain and artificial intelligence enabled web/mobile applications and software solutions for the general public, enterprise clients, and government agencies. More information about the Company can be found at: http://www.zdat.com/.

About Forbes Global Media Holdings Inc.

Established in 1917, Forbes is an international media, branding and technology consulting company that specializes in covering finance, international business, marketing, entrepreneurship, travels, and lifestyles. Forbes champions success by celebrating those who have made it, and those who aspire to make it. Forbes convenes and curates the most influential leaders and entrepreneurs who are driving change, transforming business and making a significant impact on the world. The Forbes brand today reaches more than 150 million people worldwide through its trusted journalism, signature LIVE and Forbes Virtual events, custom marketing programs and 45 licensed local editions covering 76 countries. Forbes Media’s brand extensions include real estate, education and financial services license agreements. More information can be found at: https://www.forbes.com/connect/who-we-are/.

About Forbes Global Alliance

Forbes Global Alliance (FGA) is a global exchange platform under Forbes Media Group. Relying on Forbes' global impact and cross industry resources, FGA is deeply integrated with Forbes China. Through diverse and customized online and offline content and events, we offer our members unique opportunities to learn, flourish, and succeed. FGA has created an elite service community that meets the needs of members at different life stages and career levels. On a par with the mission of the Forbes Councils in the United States, we are committed to convening up-and-coming industry leaders to establish a boutique elites networking community by providing unprecedented benefit portfolios, assisting each member to enhance social influence, thus carving out their new frontier of life. More information can be found at: https://www.fgacn.com/index.php?p=gywmen.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of ZW Data Action Technologies Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ZW Data Action Technologies Inc.’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting ZW Data Action Technologies Inc. will be those anticipated by ZW Data Action Technologies Inc. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ZW Data Action Technologies Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

For more information, please contact:

Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386