Hong Kong-listed company Tianji Holdings plans to invest HK$10 million to advance its Web3 sports intellectual property project.
TL;DR
Hong Kong-listed Tianji Holdings plans to invest HK$10 million to upgrade its sports IP projects using Web3 and AI technologies, including digital identities and on-chain management, as part of a HK$60 million fundraising effort.
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Foresight News , Hong Kong-listed company Tianji Holdings issued a supplementary announcement regarding share subscription and issuance of warrants. The company plans to upgrade its existing intellectual property (IP) business model through technological empowerment, including using Web3 blockchain technology to "put" IP products "on-chain" to create unique, tamper-proof, and traceable digital identities, and utilizing artificial intelligence and virtual reality technologies to achieve product digitization and real-time interaction. Furthermore, the company plans to utilize Web3 and artificial intelligence for on-chain membership management and data analysis.
The issuance of warrants is expected to raise up to approximately HK$60 million. Of this, approximately HK$10 million will be used to advance the application of Web3 and artificial intelligence technologies in existing IP projects such as La Liga clubs; approximately HK$25 million will be used to explore IP licensing opportunities in the fields of culture, sports, tourism, and wellness; and approximately HK$25 million will be used for general working capital.