Integrated Media Technology Limited Announces the completion of the development of its NFT Trading Platform "Ouction"

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Jan 18, 2022, 06:58 ET

SYDNEY, Jan. 18, 2022 /PRNewswire/ -- Integrated Media Technology Limited (NASDAQ: IMTE) ("IMTE" or the "Company"), announces today the completion of the development of its online digital assets trading platform "Ouction".

Ouction platform is an interactive experiencing solution designed with dynamic image cryptographic verification technology which will serve as a bridge for O2O (Online to Offline) transaction. This will enable the "Ouction" platform to not only verify virtual (digtial) asset transactions, but also provide encryption and Blockchain notarized digital certificates of physical assets for a fairer and more credible platform trading experience to e-commerce companies and their users. The website www.ouction.io is available now for registration and trading in digital assets.

Eric Zhang, Ouction's CTO stated, "The number of digital assets listed on the platform is limited at the moment, but we expect this will increase as we promote and market our Ouction NFT platform in Asia and North America. NFT or Non Fungible Token faciliates moving assets from the real world to the digital/virtual world."

"This is an exciting time. The market for non-fungible tokens in 2021 has surged to new highs as popularity and adoption of NFTs and cryptocurrency continues to grow. NFT sales had a breakthrough year with a sales volume estimated over $40 Billion in 2021 as reported by Bloomberg," stated Mr. Kim Chan, the CEO of Ouction. He futher added "Everyday, news on the the development of the metaverse and how it will reshape the way we interact with each other in the real and virtual world. The use of NFT, blockchain technologies and smart contracts is the cornerstone of bringing/creating digital assets from the real world to the virtual world. Ouction's marketplace plans to be a niche market in art, historical articfacts, photos and videos."

About Integrated Media Technology Limited ("IMTE")

IMTE is an Australian company engaged in the business of manufacture and sale of nano coated plates for filters, the manufacture and sale of electronic glass, the operating of an online exchange platform for trading in digital assets and the provision of financial research. For more information, please visit www.imtechltd.com.

Safe Harbor Statement

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SOURCE Integrated Media Technology Limited