CMGE Technology Launches Youyu Art Digital Collection Platform
Youyu Art, a distribution platform for digital artwork copyright, announced its official launch on Monday. The platform was established by Hainan Guming Technology Co., Ltd., a holding subsidiary of Hong Kong Stock Exchange main board-listed CMGE Technology, in strategic cooperation with the Beijing Copyright Protection Center, Copyright Chain National Operation Center and Northern Cultural Property Exchange.
Relying on the first public “copyright chain” and digital copyright certificate system launched by the Chinese copyright administration, Youyu Art provides legalized copyright confirmation, storage, first sale and protection services for digital artwork. Youyu Art supports digital artwork copyright distribution and free transfers between users. Each transfer requires users to pay royalties to the creator as agreed.
The platform contains trendy art, games, animation, e-sports, museums and artists in several digital art sections, and has reached cooperation with more than 80 well-known IP copyright holders and artists, including the animation cartoon IP MashiMaro, the game IP Legend of Sword and Fairy, and Monopoly. The platform is also cooperating with eSports club EDG and many famous artists including Android Jones.
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All the digital artwork sold through Youyu Art platform will be perfectly presented in “Legend of Sword and Fairy,” the first national style metaverse game independently developed by CMGE Technology. This greatly enriches the application scenarios and value empowerment of Youyu Art digital artworks.
At an investor conference held on Wednesday evening, CMGE Technology Chairman and CEO Xiao Jian revealed that the number of users of Youyu Art had exceeded 580,000 on the first day of its launch. He also noted that Youyu Art would not have much impact on the company’s main revenue in 2022. This year, the company’s main source of revenue is still the game business, but Youyu Art is expected to bring a positive impact on profits and net profit margin for CMGE Technology in the future.