CityLabs CovenantLabs Signs Business Agreement with Me2on Group Blockchain Company 'MiverseLabs'

City Labs, a smart city integrated platform company, announced on the 11th that its subsidiary Covenant Labs has signed a memorandum of understanding (MOU) with Miverse Labs.

Through this agreement, the two companies plan to explore various support and cooperation measures to build and expand NFT projects for games of various genres worldwide, utilizing the intellectual property (IP) of the global P2E game ‘COVENANT CHILD’ developed by Covenant Labs.

First, Covenant Labs plans to create an environment where users of its developed content can trade NFTs. Around the OBT period in the second half of the year, they will open a dedicated NFT marketplace for COVENANT CHILD, conduct NFT pre-sales, and list governance tokens on virtual asset exchanges.

Miverse Labs is a blockchain mainnet company under the KOSDAQ-listed ‘Me2on’ group. Based on its self-developed mainnet, it possesses various blockchain infrastructures such as NFT marketplaces, decentralized exchanges (DEX), scanners, and bridges, and has onboarded Web3 games like Pocket Battles NFT War. Ultimately, it is promoting the expansion of its own ecosystem targeting the comprehensive entertainment sector.

Jinhyung Il, CEO of Covenant Labs, said, “We are very pleased to have signed an MOU with Miverse Labs, which has extensive experience and capabilities,” adding, “We will work together with Miverse Labs to create value and pioneer new markets in the Web3 gaming field.”

Jongho Hong, CEO of Miverse Labs, said, “We are glad to build the Web3 ecosystem together by utilizing the excellent IP ‘COVENANT CHILD’ through this collaboration,” and added, “We will work together to popularize blockchain through entertaining content.”

This content was produced with the assistance of AI translation services.