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December 21, 2021

ZW Data Action Technologies Inc. Announces Cooperation for NFT and Metaverse Market on the Global IP with Digital Gold Information

BEIJING, Dec. 21, 2021 (GLOBE NEWSWIRE) -- ZW Data Action Technologies, Inc. (Nasdaq: CNET) ("ZW Data" or the "Company"), an integrated online advertising, precision marketing, data analytics, and other value-added services company, today announced a cooperation with Guangzhou Digital Gold Information Technology Co., Ltd. (“Digital Gold Information”) to jointly develop “IP + NFT” products. By leveraging Digital Gold Information’s Intellectual Property (“IP”) resources and IP operations, the Company, based on its BIF platform, will provide Non-Fungible Token ( “NFT”) technology and related operations, list IP resources and contents to domestic and international NFT market, and explore the development of the combination of offline physical products + NFT + Metaverse. Metaverse is a combination of multiple elements of technology, including virtual reality (“VR”) and augmented reality (“AR”). Combining AR, VR, and other diversified technologies, Metaverse creates excellent scenarios and platforms for virtual IP and content production.

Digital Gold Information is a company dedicated to the IP business operations and IP peripheral products creative development. Its business includes offline experience and display, brand marketing and co-branding, peripheral products and digital merchandise. The two parties will develop the IP + NFT + Metaverse business model, providing the peripheral products and digital merchandise services for authorized IPs during this cooperation. Through the Company’s BIF blockchain platform, the IP co-branded contents and products can be distributed, traded and transferred on global NFT platforms such as Antchain and Tencent Huanhe. Combining multiple technologies such as AR, VR, and Computer Graphics, Metaverse has created excellent scenarios and platforms for virtual IP and content production, allowing it to deeply integrate with more industry scenarios such as live commerce and IP endorsements. The business model also provides possibilities for the Company to explore the applications of NFT + tangible assets, digital assets financial services and others in the future.

In addition, the Company and Digital Gold Information will jointly establish an IP alliance to develop domestic and international cooperative IPs. At present, the IP alliance has closely cooperated with Tencent, Netease and other internet giants, covering a variety of IP types such as game IP, two-dimensional space IP, museum IP, and cultural creation IP which includes but not limited to Kings of Honor of Kings, Game for Peace, Hatsune Miku, and The Metropolitan Museum of Art. The average daily active users of Kings of Honor reached 100 million in 2020.

According to the 2021 NFT Market Report by Chainalysis, users have sent at least $26.9 billion worth of crypto to ERC-721 and ERC-1155 contracts, the two types of Ethereum smart contracts associated with NFT collections and marketplaces. Meanwhile, NFT products such as Dunhuangfeitian released by Antchain and Shisanyao released by Huanhe were popular in the domestic NFT market.

“The main application of NFT gradually expands from cryptocurrency and game to collectibles, artwork, domain name, identity, and other fields. We believe the IP + NFT + Metaverse will become the key application of our blockchain technology as the interactions of NFT with metaverse may be the next focus in the technology sector,” commented Handong Cheng, Chairman and Chief Executive Officer of ZW Data.

About ZW Data Action Technologies Inc.

Established in 2003 and headquartered in Beijing, China, ZW Data Action Technologies Inc. (the “Company”) offers online advertising, precision marketing, data analytics and other value-added services for enterprise clients. Leveraging its fully integrated services platform, proprietary database, and cutting-edge algorithms, ZW Data Action Technologies delivers customized, result-driven business solutions for small and medium-sized enterprise clients in China. The Company also develops blockchain and artificial intelligence enabled web/mobile applications and software solutions for the general public, enterprise clients, and government agencies. More information about the Company can be found at: http://www.zdat.com/.

About Guangzhou Digital Gold Information Technology Co., Ltd.

Established in 2019 and headquartered in Shanghai, Digital Gold Information is a technology company dedicated to IP operations and IP peripheral products creative development. Digital Gold Information is committed to providing the best products and creating interactive cultural products. Since its inception, Digital Gold Information has been working closely with top game IPs such as Honor of Kings, Game for Peace, and GKart; top two-dimensional space IPs such as Hatsune Miku, Fate and Sailor Moon; top museum IPs such as The Metropolitan Museum of Art and Dunhuang Institute of Art and Design; and top cultural creation IPs such as Tiananmen Tourism Group to jointly development a variety of products including anime figures, models, blind boxes, peripheral products and more.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of ZW Data Action Technologies Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ZW Data Action Technologies Inc.’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting ZW Data Action Technologies Inc. will be those anticipated by ZW Data Action Technologies Inc.. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ZW Data Action Technologies Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

For more information, please contact:

Sherry Zheng        
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386