Glory Star launches its digital collection NFT app CheerReal

by James · September 14, 2022

BEIJING, 14 September 2022 /PRNewswire/ — Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (“Glory Star“, “the Company” or “we”), a leading digital media platform and content-driven e-commerce company in Chinaannounced today that on 9 September 2022, it has officially launched CheerReal, a proprietary brand new digital collection non-fungible tokens (“NFT”) application, in both iOS and Android. Users can download CheerReal from either the iOS or Android App Stores to access digital art on their mobile devices.

As a pioneer in the culture and entertainment industry, Glory Star is constantly innovating the blockchain-based application scenario technology, exploring the commercial potential of the digital world, enriching cultural products and developing new business sectors such as media consumption. These initiatives of CheerReal are in line with the company’s Metaverse strategy to enhance industrial digitization, digital disruption in the entertainment industry.

CheerReal allows various cultural elements to come together beyond the imagination and brings a new immersive experience of digital art originating from the traditional field.

As technical support for CheerReal, the BSN-Decentralized Digital Certificate (“BSN-DDC”) provides the underlying technical support for the blockchain for issuing and transacting digital collections. BSN-DDC was jointly initiated by the Norwegian State Information Centre, China Mobile, China UnionPay and other companies to provide digital collection certificate technology services and reliable certificate storage services. CheerReal’s engineering team consists of top-level industry talent, focusing on research and development (“R&D”) of blockchain ecology, security and other related technologies. In addition, the engineering team is actively involved in the research and development of copyright verification, hash certificate, InterPlanetary File System (“IPFS”) technology, and decentralized exchange (“DEX”) and IDEX exchange. The engineering team is committed to providing innovative content and technology and strong technical support for CheerReal.

CheerReal is committed to distributing global digital assets and creating a leading virtual digital business ecosystem, along with efficient and close connections between artists, collectors and the market. CheerReal aims to accelerate the digitization of cultural and artistic works, promote and maximize the value of digital assets, and create a new ecosystem for the digital asset economy. The company expects to establish a new ecosystem of digital assets to materialize the CHEERS Metaverse economy.

Depends on Glory Star’s powerful content ecology matrix, CheerReal can develop its own intellectual property rights and artwork efficiently, while at the same time Glory Star’s extensive experience in Internet operations to establish an ecological cycle to ensure that the competitiveness of the CHEERS family is continuously enhanced.

About Glory Star

Since its establishment in 2016, Glory Star has been laser-focused on developing an ecosystem for its users that includes quality content, e-commerce, social networking and gaming. The company continues to integrate its cutting-edge blockchain technology, massive user base from its CHEERS ecosystem, quality content offering and its well-established e-commerce platform, and through the proper use of 5G, AR, VR and NFT technologies to develop a metaverse boasting a wide range of “online + offline” and “virtual + reality” scenarios. Glory Star’s CHEERS video and e-Mall platforms provide a solid foundation for rapidly developing various entertainment and shopping applications for the metaverse. Glory Star also offers a suite of tools for users to facilitate the development of new content by creators. The company remains at the forefront of disrupting the way new media and e-commerce are run. For more information, please visit http://ir.gsmg.co/.

Safe Harbor Statement

Certain statements in this release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates”, “forecasts”, “plans”, “intends”, “believes”, “seeks”, “may”, “will”, “should”, “future”, “suggests” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors , many of which are beyond the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors include: the ability to manage growth; the ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors that negatively affect the company’s profitability; litigation involving patents, intellectual property and other matters; potential changes in the legal and regulatory environment; a pandemic or epidemic; the occurrence of any event, change or other circumstance that may affect the Company’s ability to continue the successful development and launch of its Metaverse; the possibility that the company may not be successful in developing its new businesses due to, among other things, changes in the business environment, competition, changes in regulation or other economic and political factors; the possibility that the company’s new business areas may be adversely affected by other economic, business and/or competitive factors; other factors, risks and uncertainties set forth in documents filed by the Company with the Securities and Exchange Commission (“SEC”) from time to time, including the Company’s Annual Report on Form 20-F filed with the SEC on March 8, 2022. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information is valid only as of the date of this release.