Hong Kong-listed company TIANJI Holdings plans to invest HK$10 million to advance its Web3 sports intellectual property project

According to Deep Tide TechFlow, on December 25, as per the announcement from the Hong Kong Stock Exchange, Hong Kong-listed company Tianji Holdings released a supplemental financing agreement announcement. It disclosed that approximately 16.6% (about HKD 10 million) of the net proceeds from the subscription warrant shares, totaling around HKD 60 million, will be used to expand sports intellectual property projects based on Web3 and artificial intelligence. This includes the development and design of physical and digital intellectual property products related to La Liga clubs. The company also stated that it will apply Web3 blockchain technology to put intellectual property “on-chain” and create tamper-proof and traceable digital identities for each intellectual property product.

Previously, it was reported that Tianji Holdings plans to establish a joint venture with Xizu Chain Technology to undertake new consumer operation business for sports IP economy in the Web3.0 model.