UA Multimedia provides updates on new app

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IRVINE, Calif., Nov. 03, 2022 (GLOBE NEWSWIRE) — UA Multimedia, Inc. (OTC: UAMM), a technology holding company and solutions provider in the areas of blockchain, fintech, digital assets, Web3 and Electric Vehicle, is pleased to provide updates on new application development and expansion plans.

After seeing Ethereum successfully move 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 depending 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 EV-focused solutions.

Leveraging Mr. Lajtay’s experience in high-performance cars such as Vector and Lotus and his network in the automotive industry, the company will work with Wanderport to offer EV conversion kits as well as vehicle electrification to conventional internal combustion engine through its affiliated conversion workshops. An app is also being developed to help people who want to start their own EV conversion projects.

The company plans to introduce a media activity focused on electric vehicle news, education and promotion of electric vehicles and related technologies. Additionally, the company plans to introduce a variety of asset-based general and EV NFT projects starting this month.

A major obstacle that deters many owners from buying electric vehicles concerns charging stations. The Company is developing a solution to address some issues related to this issue. A preliminary version of this solution should be launched in the first quarter of 2023.

In order to improve the Company’s technical expertise, asset value and product offering, it is in negotiations to acquire minority stakes in two technology companies. Both target candidates have a strong background in traditional software development as well as blockchain technology.

Through these partnerships, the company plans to offer additional products as well as services such as the development of enterprise, mobile and blockchain applications related to DeFi, GameFi, SocialFi, etc.

One of the candidate’s target markets is travel and tourism. According to Facts and Factors, the global online travel market size was approximately $354 billion in 2021 and is expected to exceed $1.8 trillion by 2028.

Led by a team of seasoned technologists and entrepreneurs, the company will deliver a smart contract solution that will enable travelers to maximize their booking, travel and conferencing experiences. The company has a partnership with an extensive network of companies in the hospitality industry. Their concept has also attracted strong interest from major institutional investors.

“To adapt to recent changes in the crypto market, we have made some adjustments to our business to ensure continued growth,” commented Michael Lajtay, CEO of UA Multimedia. “In addition to organic growth, we are looking to expand externally by acquiring valuable assets with significant growth potential. We are in the execution phase and are very optimistic about the outcome for 2023.”

About UA Multimedia, Inc.

UA Multimedia, Inc. is a technology company and solutions provider specializing in blockchain, fintech, digital assets, Web3 and electric vehicles. It is also a holding company that seeks to acquire domestic and foreign entities that are in the same space.

Company
Website: https://www.uammedia.com
Facebook: https://www.facebook.com/uamultimedia
Twitter: https://www.twitter.com/uamultimedia

Forward-looking statements:

This press release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and Section 21e of the Securities and Exchange Act of 1934, as amended. These statements include the current intention, belief or expectations of the Company and its management team. Some or all of the events or results anticipated by these forward-looking statements may not occur. Potential investors are cautioned that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements due to a variety of factors. The achievement of the strategy described here is significantly dependent on many factors, many of which are beyond management’s control. UA Multimedia, Inc. assumes no obligation and does not intend to update the results of any such forward-looking statements.

Contact

UA Multimedia, Inc.
Investor Relations
949.229.1208
[email protected]

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