NFT Ltd (NYSE: MI)

NFT Limited is a holding company incorporated in the Cayman Islands that operates an electronic online platform for artists art dealers and art investors to offer and trade ownership over valuable artwork in the form of non-fungible tokens or NFTs. The company provides NFT consulting services related to the strategic utilization of blockchain technology and NFT launch. It is also exploring NFT gaming business including sales of in-game character NFTs and membership packs. The platform enables artists and dealers to access a broader art trading market and connects them with a wide range of investors.

NFT Limited generates revenue primarily from trading commissions on the listing and trading of NFTs on its system. The company also earns revenue from membership fees and advertising fees associated with its platform. Revenue is derived from services connected to the offering and trading of artwork units through its electronic trading system. The company does not currently generate revenue from research and development activities.

The company operates through the following segments:

• Takung Digital Technology Limited provides administrative and technical support for the development of NFT projects.

• Takung Exchange Limited facilitates the business and operation of the Takung Exchange market.

• Metaverse Digital Payment Co. Limited is engaged in digital payment services.

NFT Limited operates in the NFT and digital artwork trading industry where it competes with traditional art galleries and auction houses. The company believes it has no direct competition due to its unique business model of trading artwork ownership units instead of physical artworks. Its competitive advantage lies in its proprietary electronic trading system that supports trading and settlement of artwork ownership units through a matching system transaction monitoring system account managing system and settlement system.

The company serves artists art dealers and art investors who are 18 years or older and maintain a trading account on its platform. Eligible traders are residents of the People's Republic of China Australia Malaysia Mongolia New Zealand Russia Singapore and Taiwan. The platform also serves original owners of artwork who wish to offer and trade their pieces through offering agents.