HONG KONG, Feb. 24, 2022 /PRNewswire/ -- Oriental
Culture Holding LTD ("Oriental Culture" or the "Company") (NASDAQ:
OCG) today announced that it has signed a strategic cooperation
memorandum of understanding ("MOU") with Heng Well Information
Technology Co., Ltd. ("Heng Well"), pursuant to which parties
will start the comprehensive cooperation on blockchain based
digital cultural and artwork products service business.
According to the MOU, the parties will develop blockchain+ and
NFT related services and business for cultural and artwork products
to take the advantage of Heng Well's experience and strength in the
areas of blockchain and NFT and Oriental Culture's experience and
connections in the cultural and artwork market. The Company will
draw on its extensive knowledge and experience in the existing and
traditional cultural and artwork products market to build up an
ecological service networking for the blockchain based digital
cultural and artwork business by working together with Heng Well to
expand the trade in cultural and artworks and engage a wide range
of the population in the collection, trade, and communication of
cultural and artwork products in different forms.
The parties agree to hold regular meetings between their senior
management to provide guidance, support, and supervision of the
development of new business, and to coordinate and resolve major
issues arising in the business practice.
Mr. Mun Wah Wan, Chairman of Oriental Culture commented:" The
market size of cultural and artwork products is increasing quickly,
and the market demand for cultural and artwork trade platform and
related services presents a diversified trend with the recent
development of blockchain technology and NFT. Heng Well is a
company that has advanced blockchain+ technology and rich
experience in related areas, and the cooperation between our two
companies will help us to offer blockchain based services for the
digital cultural and artwork products, marking another milestone of
the Company in its efforts to create a full-service and new
technology driven platform for cultural and artwork products."
About Oriental Culture Holding LTD.
Oriental Culture Holding LTD is an online collectibles and
artwork e-commerce service provider that allows collectors,
artists, art dealers and owners to access a much bigger art trading
market where they can engage with a wider range of collectibles or
artwork investors than they could likely encounter without our
platforms. We currently facilitate trading by individual and
institutional customers of all kinds of collectibles, artworks and
commodities on our leading online platforms owned by our
subsidiaries in Hong Kong. We also
provide online and offline integrated marketing, storage and
technical maintenance service to our customers in China. For more information about the Company,
please visit: www.ocgroup.hk.
About Heng Well Information Technology Co., Ltd.
Jiangsu Heng Well Information Technology Co., Ltd. ("Heng Well")
is an innovative high-tech company focusing on information
technology and integrating Internet+ concept into the ecological
chain of various aspects of life. It is a member of the first
National Blockchain and Distributed Accounting Technology
Standardization Technical Committee in China, a member of the Board of Directors of
China Blockchain Technology and Industry Development Forum, a
member of Trusted Blockchain Initiatives, a Chinese sponsor of
China-Canada Institute of Internet of Things and Blockchain
Industry, and serves as president of Wuxi Blockchain Industry
Alliance. Heng Well's strategic plan covers the comprehensive
blockchain ecology, including blockchain underlying technology
development, and standard blockchain services etc. For more
information about Heng Well, please visit: www.hwelltech.com.
Forward-Looking Statement
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements regarding plans,
objectives, goals, strategies, future events or performance, as
well as underlying assumptions and other statements that are not
historical facts. A company is making forward-looking statements
when it uses words such as "may," "will," "intend," "should,"
"believe," "expect," "anticipate," "plan," "estimate" or similar
expressions that do not relate solely to historical matters.
Forward-looking statements are not guarantees of future performance
and involve risks and uncertainties that could cause actual results
to differ materially from the Company's expectations discussed in
the forward-looking statements. These statements are subject to
uncertainties and risks, including, but not limited to, the
Company's objectives and strategies; the Company's future business
development; financial condition and results of operations; demand
for and acceptance of products and services; reputation and brand
name; the impact of competition and pricing; changes in technology;
government regulations; fluctuations in general economic and
business conditions in China and
assumptions relating to any of the foregoing and the Company's
other risks contained in its reports filed with the Securities and
Exchange Commission. For these reasons, we caution investors not to
place undue reliance on any forward-looking statements contained in
this press release. Additional factors are discussed in the
Company's filings with the Securities and Exchange Commission,
which are available at www.sec.gov. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances arising after the date hereof.
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SOURCE Oriental Culture Holding LTD.