Benzinga | Nov 10, 2021 07:18AM EST

Dunxin Financial Holdings Says It Will 'transition its business into the Metaverse Industry'

Dunxin Financial Holdings Limited (NYSE:DXF) ("Dunxin Financial" or the "Company") has announced that it will officially transition its business into the Metaverse Industry after research and development of over two years. The Company is planning to recruit professionals and is evaluating multiple projects at this stage.

The artwork of digital artist Beeple (Mike Winkelmann), "Evertdays: The First 5000 Days", was auctioned for US$69 million at Christie's. With the number of NFT users growing exponentially, "Play to Earn(P2E)" game "Axie Infinity", which was driven by Block Chain technology, arrived on the scene, and surpassed "Honor of Kings" in terms of revenue, and marked its spot on list of top 3 mobile games within 30 days.

The Company devotes to become a digital culture and entertainment technology platform that possess core intellectual properties and key technologies. Dunxin Financial enters into the Metaverse related industries (including Block Chain, NFT, Artificial Intelligence, hard and software of AR&VR, games, etc) by ways of independent research and development, investment and cooperation, etc. The Company wishes to cooperate with parties in the industry.

CEO of Dunxin Financial, Mr. Ricky Wei commented, "we conducted intensive researching and studying of massive practitioners in block chain, coin and mining industry and communicated with international and domestic institute experts and professionals in last two years. Benefiting from Block Chain technology, 5G6G technologies and upgrade of internet technology, Metaverse is believed to be the largest technology revolution after the waves of the internet technology, whose aim is to break the physical limitation and realization of virtual space-sharing. I believe that the ultimate Metaverse is in connection with both physical world and mathematics world. It will become a part of people's lifestyle and will rebuild the digital economy system. Metaverse innovatively creates new species by integration of discrete single point and brings potentials and opportunities in long term.

The next 3-5 years will be an early-stage exploration period of Metaverse. Massive technology breakthrough and business model innovation in VR/AR, NFT, AI, Cloud, PUGC game platform, digital human and Digital Twin City will emerge. In the mid to long term, the investment opportunities includes GPU, 3D Graphic Engine, Cloud Computing and IDC, High-speed Wireless Communication, internet and game platform, Digital Twin City, etc. The Metaverse is likely to create great investment opportunities in the next ten years.