London, UK, April 04, 2022 (GLOBE NEWSWIRE) — China Food and Beverage Company (OTC Pink: CHIF), an Esports and Blockchain Consortium Venture Company, today announced plans to change its name to Championship International Fintech Inc. as part of an overall rebranding of the company and its business units and entry into the massive esports arena. The name change reflects the company’s hybrid strategy in the esports and blockchain sectors, where both markets are growing very rapidly.
CHIF management believes the time is right to enter the booming esports and blockchain markets. Global esports market revenue was valued at just over $1 billion in 2021 and is projected to grow 400% over the next seven years to reach approximately $4.28 billion by 2027. As competitive video games continue to become embedded in popular culture, global investors, brands, and the media are all paying attention. Consumers are too. In fact, there will be 29.6 million monthly Esports viewers in 2022, up 11.5% from 2021, according to our estimates.
The global blockchain services market is expected to grow from $2.94 billion in 2021 to $4.65 billion in 2022, at a compound annual growth rate (CAGR) of 58%.
Mr. Yuen Wong, Chairman of CHIF and Partner of Silverbear Capital, said: “This is a process of rebranding the company, as part of our new corporate strategy and we are determined to move the company at the top level. Based on our promising research, the industry has seen a huge increase in investment from venture capitalists and, more recently, private equity firms. The number of esports investments doubled in 2018, from 34 in 2017 to 68 in 2018, according to Deloitte. This is also reflected in the total dollars invested. Investments amounted to $4.5 billion in 2018, up from just $490 million the previous year, a staggering annual growth rate of 837%, according to Deloitte. These investments are distributed to gamers across the ecosystem, from esports organizations to tournament operators to digital broadcasters, allowing it to operate and grow.
Jeff Au, CEO of CHIF and partner at Silverbear Capital, said: “We are also positioning ourselves in the Blockchain business combining, the GameFi and Esports model, which is unique in this market. We believe that the joint chemistry of the Esports strategy and Blockchain will be the first of its kind on the market.
Last month, CHIF announced the appointment of Bitmart Cryptocurrency Exchange https://www.bitmart.com Managing Partner, Mr. Yuen Wong, as Chairman of the Company’s Board of Directors with immediate effect. BitMart is a leading global digital asset trading platform with over 5.5 million users worldwide and ranked among the top crypto exchanges according to CoinGecko. BitMart currently offers over 600 trading pairs with one of the lowest trading fees on the market. Bitmart’s platform supports over 220 cryptocurrencies and has a 24-hour trading volume of around $1.5 billion according to coinmarketcap.com https://coinmarketcap.com/exchanges/bitmart/.
As a tech-savvy blockchain enthusiast, Mr. Wong also acts as an advisor to many successful blockchain projects. He is the CEO of LABS Group Limited https://labsgroup.io , the world‘s first end-to-end Blockchain-powered digital real estate investment platform that provides access to fractional ownership and corporate ownership. LABS is taking a proactive role in leading the Esports hospitality industry and capitalizing on the current GameFi and Metaverse trend.
Mr. Wong also works as a strategic partner with Arena Esports Hotel www.arenaesportshotel.com, and helped by tokenizing the properties and offering them on the LABS crowdfunding platform. The first project is located in Bugis Village, Singapore, which is the largest Esports hotel in Southeast Asia and the first hotel in the world with VR concepts. The plan is to expand to 50 locations through the partnership and franchise model in 3-5 years and reach over 2,733,000 people in residence. Arena Esports Hotel is currently expanding into Southeast Asia, targeting Cambodia, Malaysia and Vietnam.
Mr. Wong is currently a co-founder of GEMS https://thegems.gg/GEMS , an Esports 3.0 aggregation platform within online and offline communities. It propels Esport into 3.0 by integrating GameFi, Mataverse and SocialFi elements, and relies on Arena Esports Hotels, in order to integrate the young population into the new sharing economy.
Silverbear Capital Inc. https://www.sbcfinancialgroup.com.hk/a leading global investment bank and advisory firm, will advise NSAV on strategic matters relating to this transaction.
Silverbear Capital Inc. (SBC) has a disciplined dynamic at a broad business and practical level. SBC has a strong group of associates in a wide range of disciplines with seasoned experience in finance, management and professional practice. https://www.sbcfinancialgroup.com.hk/meet-our-team/.
Disclaimer: Silverbear Capital Inc. does not constitute investment advice, an offer or solicitation to sell, or a solicitation to buy, or any other investment product (and such shares or products should not not be offered or sold to any person) in any jurisdiction. in which any offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.
CHIF’s vision is the creation of a fully integrated technology company that provides turnkey technology solutions to the esports, cryptocurrency, blockchain and digital asset industries. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, consulting services, financial services and information technology.
For more information, please contact CHIF at [email protected]
The CHIF Twitter account can be accessed at https://twitter.com/chif_tech
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors thus created. . Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, China Food and Beverage Company’s ability to achieve its stated business plan. China Food and Beverage Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, that each of the assumptions may be incorrect, and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be either precise. In light of the material uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be taken as a representation of China Food and Beverage Company or any other person.
Chinese food and beverage company