IRVINE, CA, May 19, 2022 (GLOBE NEWSWIRE) -- UA Multimedia, Inc. (OTC Pink: UAMM), a technology company with a focus in blockchain, cryptocurrency, DeFi, NFT and metaverse, today announces the introduction of its Social Finance (SocialFi) platform with integrated social media, crypto and marketplace.
The number of social media users have exceeded 4.5 billion globally as of the end of 2021. This number continues to grow with more than 1 million new users added daily. Some of the most common usages of social media include entertainment, education, socializing and marketing.
In addition to connecting people worldwide, many individuals are also deriving their income from social media via content creation and selling on marketplaces.
To cater to this large global market, UA Multimedia will be introducing a SocialFi platform that will integrate social media with blockchain, crypto and marketplace.
The platform will allow users to monetize by uploading media contents, engaging with other users as well as listing physical items and NFTs for sale. The supported currency will be the Company’s GOGI utility token and Ethereum.
The platform will be release in phases with the first release planned before the end of Q2. The Company will provide additional information and incremental updates as progress is made.
UA Multimedia continues to enhance its existing crypto and NFT marketplace modules with the goal of integrating all the components into one platform that offer currency exchange, marketplace and social media. All products will eventually be available on the metaverse as the field becomes more mature.
“The upcoming SocialFi platform further expand our product offerings in the blockchain and crypto space,” commented Michael Lajtay, CEO of UA Multimedia. “We are very excited about the huge potential of this application. This will take social media up another level by allowing users of the platform to earn additional income as well as help strengthen the adoption of crypto and NFTs.”
About UA Multimedia, Inc.
UA Multimedia, Inc. is a technology company with a focus in blockchain, cryptocurrency, decentralized finance (DeFi), non-fungible token (NFT) and metaverse. The Company’s mission is to offer products and services in these areas as well as seeking to acquire entities and assets that are in the same space.
Forward Looking Statements:
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the Company and its management team. Some or all of the events or results anticipated by these forward-looking statements may not occur. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. UA Multimedia, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
UA Multimedia, Inc.