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Tag: NASD:NCTY

  • The9 (NCTY) Strengthens Esports Vision With NIP Group Alliance

    The9 (NCTY) Strengthens Esports Vision With NIP Group Alliance

    The9 Limited (NASDAQ: NCTY) stock surged 19.73% to end at $13.29 during the previous session following the announcement of a strategic alliance between NIP Group and its subsidiary, China Crown Technology Limited. The goal of this partnership is to make “MIR M” a competitive esports game. Using the knowledge of both sides, the collaboration seeks to modify the game’s unique features for the esports market.

    Background on MIR M and China Crown’s Role

    China Crown, a wholly owned subsidiary of The9 (NCTY), acquired exclusive publishing rights for “MIR M” in Mainland China from Wemade Co., Ltd. in May 2024. The game, which is the most recent iteration of the renowned “MIR” series, is accessible on PC and mobile devices. One of China’s first online gaming firms, The9, has a history of bringing well-known games like World of Warcraft and MU Online to the Chinese market.

    Important Areas of Cooperation

    The partnership will focus on three pivotal areas:

    • Esports Integration – Incorporating competitive features into the game to align with esports standards.
    • Tournament System Development – Designing an engaging and scalable tournament framework.
    • Marketing and Promotion – Utilizing NIP Group’s vast experience in esports event production and social media outreach to enhance visibility.

    By combining the expertise of NIP Group in global esports with China Crown’s player base, the partners aim to establish a robust and highly commercialized tournament ecosystem. This ecosystem will be supported by an efficient and synchronized esports marketing network, designed to captivate fans worldwide.

    A Vision for Global Esports Success

    The collaboration positions The9 to redefine the gaming experience with technical and promotional innovations. NIP Group’s extensive resources and creative approach to digital entertainment will further the global appeal of “MIR M.” Through this partnership, both companies aspire to elevate the game into one of the leading esports titles, creating new opportunities for fan engagement and expanding their digital entertainment footprint.

    This endeavor underscores The9’s (NCTY) commitment to innovation and its vision of fostering a dynamic esports landscape.

  • Is This Why The NCTY Stock Is Falling Premarket?

    As of last check, The9 Limited (NCTY)’s shares were trading at $17.90, down -2.29% in premarket session. The9 stock closed Wednesday’s session at $18.32, down -1.51%. NCTY stock volume stayed at 1.82 million shares, which was lower than the average daily volume of 2.79 million shares in the past 50 days. After announcing a custody account, NCTY stock first rose and then dropped in premarket trading.

    NCTY opened custody accounts with whom?

    China-based online technology company The9 Limited was listed on the Nasdaq in 2004. As a high-tech company specializing in the Internet, The9 strives to diversify.

    The9 announced today that Coinbase Custody will be the custodian of NCTY’s digital assets, including Bitcoin.

    • Coinbase Custody is a wholly-owned subsidiary of Coinbase Global Inc. (Nasdaq: COIN) and a global leader in qualified digital asset custody.
    • NCTY plans to deposit part of its mined cryptocurrencies at Coinbase Custody.
    • To begin, NCTY will deposit 200 Bitcoins into Coinbase Custody’s segregated cold storage accounts, which are business-grade offline cold storage solutions offered by the company.
    • As a fiduciary under New York State Banking Law, Coinbase Custody is qualified to hold money on behalf of its clients.
    • Their client funds have never been lost, even though they store billions.
    • Clients’ digital assets are held in trust for their benefit through their secure custody solution.
    • Coinbase Custody believes it has one of the most comprehensive insurance policies in the industry for protecting online and offline assets, across all of their products.

    NCTY’s digital assets policy:

    The9 (NCTY) plans to deposit more cryptocurrencies into this custody account as more cryptocurrencies are mined. According to NCTY’s risk mitigation and management policies, the remainder of digital assets will be stored in cold wallets.