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Benzinga
Benzinga
Business
Shivani Kumaresan

JX Luxventure Inks Cross-Border Supply Agreement, Plans NFT Projects

Japan China Hainan Island (Geopolitical Entity) Metaverse (Organization)
  • JX Luxventure Ltd (NASDAQ:LLL) subsidiary JX Hainan entered into a strategic cooperation framework agreement on a cross-border supply chain of duty-free merchandise with Aikayun Technology (Hainan) Co.
  • Under the agreement, JX Hainan has secured an exclusive right to distribute cross-border products from Japan in the Hainan Island, amounting up to RMB1 billion.
  • The company also plans to enter into the Metaverse by offering Non-fungible Token (NFT) based projects, led by its Chief Technology Officer.   
  • "With China's border remaining closed due to Covid restriction, there is a high demand for cross-border products from Japan," said CEO Sun "Ice" Lei.
  • Price Action: LLL shares are trading higher by 5.01% at $1.89 on the last check Tuesday.
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