ZW Data Action Technologies Inc. (CNET) experienced a decrease of 23.75% in aftermarket following the update that Meta earnings undergo disappointment as Facebook’s parent pushes into the metaverse. However, the last trading session closed at $0.80 with a decrease of 4.75%.
Cooperation for NFT and Metaverse Market by CNET – What’s up?
On 21st December 2021, CNET announced that it has collaborated with Guangzhou Digital Gold Information Technology Co., Ltd (Digital Gold Transformation). This agreement will be helpful in the development of IP+NFT products. Digital Gold Information is a firm committed to the creation of IP peripheral goods and IP business operations. Offline interaction and display, promotional strategies and co-branding, peripheral products, and digital merchandise are all part of its business. During this collaboration, the two parties will create the IP + NFT + Metaverse business model. This will be done by supplying peripheral items and digital commerce services for recognized IPs.
What’s Next?
NFT’s primary use cases rapidly broaden from bitcoin and games to collectibles, artwork, domain names, identification, and other sectors. CNET believes that IP + NFT + Metaverse will be a crucial implementation of the blockchain technology, as the interconnections of NFT with metaverse may be the future focus in the technology industry.
Strategic Cooperation on Blockchain + Insurance by CNET
On 30th November 2021, CNET reported that it has entered into a collaboration with Shanghai Weiyou Information Technology Co., Ltd. Certain “Blockchain + Insurance” services for small and medium-sized businesses are intended to be supplied through the Platform, adding to the insurance ecosystem by upgrading blockchain technology. Moreover, based on ZW Data’s blockchain technology, the two companies will collaborate to create and launch a cost-effective insurance platform.
Furthermore, Weiyou Information will offer one-stop services through the Platform, ensuring that all connected insurance processes and data can be validated and tracked. Not only this but it will also help in enhancing transparency and credibility for all parties involved. Apart from Klover InsurTech’s present auto insurance, ZW Data and Weiyou Information will collaborate on additional forms of insurance product research and development. Meanwhile, in order to promote the Platform, the Company will work with a number of new media outlets.
So what?
Blockchain and other internet technologies are fast advancing and becoming a backbone in all industries. This will cause old corporate management models to be disrupted. The insurance business is projected to become a large and crucial market for blockchain implementation. Last but not the least, the company hopes that this collaboration will help CNET grow the blockchain-related services and technology in the long run.
