MultiMetaVerse to acquire e-commerce service provider Bowong AI

MultiMetaVerse has entered into a non-binding term sheet for the acquisition of 100% of Bowong Technology and its subsidiaries by the issuance of the company’s Class A ordinary shares to the shareholders of Bowong AI as consideration, the amount of which will be determined based on further due diligence and negotiation. The consideration shares shall be subject to a lock-up period of one year. MMV has an exclusive period of 90-day to negotiate a definitive agreement for the proposed transaction. Founded in 2022, Bowong AI is an artificial intelligence company specializing in e-commerce solutions. Combined with its AI-powered content distribution algorithm, Bowong AI is able to produce and distribute personalized marketing contents in different forms for the goods across all platforms in a short time. Recently, Bowong AI has completed its Series A funding of several million dollars. The proceeds will be used to further develop its models and technologies in the e-commerce field, expand its market into Asia and North America, and recruit additional top talents.