UA Multimedia, Inc. provided updates on new application development and expansion plans. After witnessing the Ethereum successfully transitioned from proof-of-work to proof-of-stake, the Company began to modify its NFT marketplace to support Ethereum as an additional payment method. Other currencies may also be supported in the future based on demand.

The new marketplace will be expanded to accept listings of physical items in addition to digital assets. To diversify and add additional revenue streams, the Company has partnered with Wanderport Corp. to provide a few solutions gearing toward electric vehicles.

Leveraging Mr. Lajtay's background in high performance cars such as Vector and Lotus and his network in the automobile industry, the Company will collaborate with Wanderport to offer EV conversion kits as well as electrification of classic internal combustion engine vehicles through its affiliated conversion shops. An app is also being developed to help people who wish to embark on EV conversion projects of their own. The Company plans to introduce a media business geared towards EV news, education and promotion of electric vehicles and related technologies.

Furthermore, the Company plans to introduce a variety of asset based general and EV NFT projects starting later this month. One major obstacle that deters many owners from buying electric vehicles involves charge points. The Company is in the process of developing a solution to address certain areas related to this problem.

A preliminary version of this solution is planned to be launched in First Quarter 2023. To enhance the Company's technical expertise, asset values and product offerings, it is in negotiation to acquire minority stakes of two technology firms. Both target candidates have a strong background in traditional software development as well as blockchain technology. Through the partnerships, the Company expects to offer additional products as well as services such as development of enterprise, mobile and blockchain applications related to DeFi, GameFi, SocialFi, etc.

One of the candidates' target market is travel and tourism. According to Facts and Factors, the global online travel market size was approximately $354 billion in 2021 and is anticipated to exceed $1.8 trillion by 2028. Led by a team of seasoned technologists and entrepreneurs, the company will offer a smart contract solution that will allow travelers to maximize their booking, traveling and conference experiences.

The company has a partnership with an extensive network of companies in the hospitality industry. Their concept has also received strong interest from large institutional investors.