ChainCatcher News: Boya Interactive Invests in MTT ESports with 100 Bitcoin

Boya Interactive (00434.HK) announced on September 17, 2024, that they had entered into a subscription agreement with MTT ESports Limited (“MTT ESports”) to invest in the company for 100 Bitcoin (BTC). Based on the market price of Bitcoin the day before the announcement, this equates to a total value of approximately $5,819,300.

Upon completion of the investment, Boya Interactive will hold a 25% stake in MTT ESports. However, MTT ESports will not become a subsidiary of Boya Interactive as a result of this investment, and its financial performance will not be consolidated into the group's financial statements. To the best of the Directors' knowledge, information, and belief, MTT ESports and its beneficial owners are independent third parties with no affiliation with the company or its related parties.

MTT ESports is a limited liability company registered in the British Virgin Islands. It is a company focused on the research and development and operation of Web3 infrastructure and Web3 games. They develop and own the MTT Sports gaming platform and MTT Network.