BEIJING, Oct 12, 2023 - (ACN Newswire) - Global Mofy Metaverse (Nasdaq: GMM), a virtual technology company, successfully listed on the Nasdaq on October 10 under the stock symbol "GMM". Global Mofy becomes only the second Chinese listing in the U.S. market since the March 31 ruling for companies that register with the CSRC* in advance and get approval from their industry regulator before listing overseas. Global Mofy is a technology company that has taken virtual digital assets as its core and uses digital technology to provide customized services for the metaverse industry, establishing various advantages around virtual content production, digital marketing, digital asset development, and technology solutions for the metaverse industry. The company is committed to establishing China's largest high-precision virtual digital asset property rights bank and working with upstream and downstream industry participants to build a new generation of metaverse digital world.
Unique Advantages in Technological Innovation and Wide Range of Application Scenarios
According to a Frost & Sullivan report, Global Mofy is one of China's leading digital asset banks, with over 7,000 high-precision 3D digital assets. These digital assets have diverse application scenarios and can meet the needs of different industries and users. Whether in the fields of virtual reality games, film and television entertainment, digital marketing or education and training, Global Mofy can provide a rich and diverse range of digital assets to bring users a more immersive and personalized experience.
Through continuous technological innovation, Global Mofy continues improving its metaverse competitiveness. Its unique, independently developed "MofyLab" technology platform integrates multiple underlying tool systems to convert people, objects, and fields in the real world into digital assets common in the virtual world. The one-stop function of the metaverse editable middle platform assists customers in generating virtual content and empowers the upstream and downstream enterprises in the metaverse. Integrating the latest three-dimensional (3D) reconstruction technology and artificial intelligence (AI) interaction technology provides users with high-precision, high-definition virtual 3D objects. These objects can be widely used in different applications, but their resolution has reached the 4K level, comparable to movie-level quality, bringing users an immersive virtual experience.
Global Mofy's virtual content production, digital marketing and digital asset development technology solutions can play a role in multiple application scenarios. With its technological advantages, Global Mofy can also provide enterprises with innovative digital marketing solutions, helping enterprises enhance their brand image and expand market influence through virtual reality, interactive experiences, virtual exhibitions, data analysis and personalized recommendations, and virtual social networking to establish closer interactive relationships with users.
Market Potential for the Metaverse and Accelerating Industry Evolution
The current global Metaverse industry is accelerating its evolution. By 2030, the global Metaverse market is expected to reach US$1.5 trillion. Metaverse, as a new form of interaction and integration between the virtual and real worlds, can revolutionize the office, social and industrial scenes. In terms of industrial Metaverse, smart manufacturing is expected to accelerate the development of related technologies through the development of Metaverse, pushing the global market size to exceed US$540 billion by 2025.
In terms of consumer Metaverse, Global Mofy can leverage the immersive virtual world experience of Metaverse to provide richer and more innovative educational content and learning experiences. In the industrial Metaverse, Global Mofy can interact and integrate with the real economy to provide solutions for digital transformation and upgrading of real industries. Recently, the Ministry of Industry and Information Technology and other ministries and commissions jointly issued the "Three-Year Action Plan for the Innovative Development of the Metaverse Industry (2023-2025)", which presents a clear strategy to promote high-quality development of the Metaverse industry, and Global Mofy, as a director of the Industrial Metaverse Collaboration and Development Organization, is actively responding to the national policy, and will contribute to the development of the action plan. Global Mofy, as a member of the Industrial Metaverse Synergy Development Organization, will contribute to developing the action plan.
Clear Growth Strategies and Sustainable Financial Performance
According to the information disclosed in the prospectus, during the 2020, 2021 and 2022 fiscal years ending on September 30, Global Mofy's total revenue steadily grew, reaching US$5.04 million, US$14.27 million and US$17.19 million, respectively. From the revenue growth perspective, the company has maintained a yearly growth rate of over 20%, showing stable performance.
Specifically, the company's virtual technology service revenue in fiscal year 2022 was approximately US$12.54 million, accounting for 72.9% of total revenue; Revenue from digital marketing was approximately US$632K, accounting for 3.67% of total revenue; revenues from digital asset development and other business were approximately US$4.02 million, accounting for 23.40% of total revenue.
These data show that Global Mofy has a strong market share in the field of virtual technology services. According to the prospectus, with its advanced 3D reconstruction and AI interaction technology, Global Mofy has obtained national high-tech enterprise certification from the Beijing Municipal Science and Technology Commission and the Zhongguancun Science and Technology Park Management Committee. In addition to continuously optimizing technology, the company plans to accelerate the development of digital assets and expects to convert at least 10,000 assets per year to expand its competitive advantage.
Global Mofy's future goals also include maintaining and further developing business relationships with customers and potential players in the Metaverse industry. Over the years, the company has established solid cooperative relationships with upstream and downstream enterprises in the industry. Its founding team has established close ties with leading Metaverse platforms such as Tencent and Alibaba in China. In addition, Global Murphy has also established business relationships with content companies in different fields, such as Youku, Perfect World, Wimi Hologram, and more.
According to the prospectus, in order to implement its business strategy, Global Mofy plans to acquire or cooperate with similar digital asset providers within 1-2 years after listing to expand its digital asset content. The company believes that there are currently only a few independent high-definition 3D digital asset providers worldwide, and most of their performance is mediocre due to outdated operating concepts.
With its continuous development of virtual technology and digitalization, GMM is expected to expand its market share by listing on the Nasdaq. The funds raised will be invested in further technology R&D and market penetration to continue increasing revenue and profitability and begin a new round of growth.
*China Securities Regulatory Commission (CSRC)
Source: Global Mofy Metaverse Limited
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