BEIJING, April 02, 2024 (GLOBE NEWSWIRE) -- Cheer Holding, Inc. (NASDAQ: CHR) ("Cheer Holding," or the "Company"), a leading provider of advanced mobile internet infrastructure and platform services, today announced the acquisition of a national patent certificate for its "Method and System for NFT Trading" from the National Intellectual Property Office. This pioneering invention tackles the security challenges and content protection limitations present in digital collectible transactions, ensuring both transactional security and content integrity for digital collectibles. By enabling secure and seamless transactions and transfers of non-fungible tokens (NFTs), this achievement solidifies the Company's position as an industry powerhouse in the field of blockchain technology.
The patented invention encompasses various aspects of NFT trading technology, including robust buyer and seller authentication, precise grayscale analysis of authenticated seller's digital collectible frame images to extract the unique address code associated with each digital collectible. These frame images are ingeniously utilized as watermarks, forming watermark composite images, from which all digital watermark images are derived. Rigorous watermark usability testing is performed to identify the optimal watermark image. Leveraging this image, the seller's digital collectibles are securely encrypted, and a comprehensive digital collectible transaction contract is generated. Upon the successful execution of the contract, the buyer receives the pixel displacement count and address code of the best watermark image associated with the purchased digital collectibles.
NFT trading systems have rapidly gained global prominence as a transformative digital asset trading ecosystem. Leveraging blockchain technology, these systems facilitate the trading and transfer of non-fungible tokens, unlocking a multitude of versatile applications and opportunities.
This issuance of the invention patent for the Company’s groundbreaking NFT trading method and system marks an exciting milestone for Cheer Holding, which is dedicated to pushing the boundaries of innovation in the blockchain technology domain. This patent underscores the Company’s commitment and visionary approach to drive the widespread adoption and advancement of NFT trading systems on a global scale.
About Cheer Holding, Inc.
As a preeminent provider of next-generation mobile internet infrastructure and platform services in China, Cheer Holding is dedicated to building a digital ecosystem that integrates “platforms, applications, technology, and industry” into a cohesive system, thereby creating a new, open business environment for web3.0 that leverages AI technology. The Company is developing a 5G+VR+AR+AI shared universe space that builds on cutting-edge technologies including blockchain, cloud computing, extended reality, and digital twin.
Cheer Holding’s portfolio includes a wide range of products and services, such as Polaris Intelligent Cloud, CHEERS Telepathy, CHEERS Open Data Platform, CHEERS Video, CHEERS e-Mall, CheerReal, CheerCar, CheerChat, CHEERS Fresh Group-Buying E-commerce Platform, Digital Innovation Research Institute, CHEERS Livestreaming, variety show series, IP short video matrix, and more. These offerings provide diverse application scenarios that seamlessly blend “online/offline” and “virtual/reality” elements.
With “CHEERS+” at the core of Cheer Holding’s ecosystem, the Company is committed to consolidating and strengthening its core competitiveness, and achieving long-term sustainable and scalable growth.
For more information, please visit http://ir.gsmg.co/.
Safe Harbor Statement
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the occurrence of any event, change or other circumstances that could affect the Company’s ability to continue successful development and launch of its metaverse experience centers; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment and technological developments, competition, changes in regulation, or other economic and policy factors; disruptions or other business interruptions that may affect the operations of our products and services, the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors; other factors, risks and uncertainties set forth in documents filed by the Company with the Securities and Exchange Commission from time to time, including the Company’s latest Annual Report on Form 20-F filed with the SEC on March 22, 2023, as amended. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.
For investor and media inquiries, please contact:
Wealth Financial Services LLC
Connie Kang, Partner
Email: ckang@wealthfsllc.com
Tel: +86 1381 185 7742 (CN)
