Marvion Inc. announced the signing of a Memorandum of Understanding (MOU) with China Information Technology Development Limited (CITD) and MAME Ltd. (Mame). This collaborative agreement marks a significant milestone in the advancement of digital ownership tokens (DOTs) within the entertainment industry. The MOU, effective as of February 1, 2024, establishes a collaborative arrangement between the parties to leverage their respective expertise for mutual benefit.

CITD, a technology company at the forefront of AI, blockchain technologies, and Web 3.0 solutions, joins forces with Marvion, renowned for its expertise in developing DOTs and blockchain-powered ecosystems. MAME Ltd, a prominent player in the entertainment and event production business, adds its industry knowledge and network to the collaboration. The scope of work outlined in the MOU includes the tokenization of rewards points, a service that converts rewards points into digital tokens using blockchain or similar technology. This tokenization process enhances the flexibility, security, and integration of rewards points into digital platforms, loyalty programs, or decentralized applications.

Through this strategic collaboration, Marvion, CITD, and MAME Ltd. are poised to drive innovation in the entertainment industry by leveraging the power of digital ownership tokens. Together, they aim to create new opportunities for monetization, engagement, and value creation in the digital era.