Cheer Holding secures patent for NFT trading system By Investing.com

BEIJING – Cheer Holding, Inc. (NASDAQ: CHR), a prominent mobile internet infrastructure and platform service provider, has obtained a national patent for a novel NFT trading method and system, reinforcing its stature in the blockchain technology sector. The patent, awarded by the National Intellectual Property Office, addresses existing security and content protection issues in digital collectible transactions.

The patented system introduces advanced features for NFT transactions, including rigorous authentication of buyers and sellers, and a unique grayscale analysis technique for digital collectible frame images. This analysis extracts a distinct address code for each NFT, which is then used to create a secure watermark composite image. The process ensures that the seller’s digital collectibles are encrypted effectively, culminating in the generation of a comprehensive digital collectible transaction contract. Upon completion of the contract, buyers receive essential information about the watermark image linked to their new digital assets.

Cheer Holding’s innovation arrives at a time when NFT trading systems are experiencing widespread adoption, offering diverse applications across the digital asset ecosystem. The company’s approach to improving transactional security and content integrity could potentially set a new standard for the industry.

This article is based on a press release statement.

InvestingPro Insights

As Cheer Holding, Inc. (NASDAQ: CHR) secures a new patent to bolster its position in the blockchain and NFT space, investors are closely monitoring the company’s financial health and market performance. With a keen eye on the future of digital transactions, Cheer Holding’s recent innovation could play a significant role in shaping the company’s trajectory. Here are some key insights from InvestingPro that might interest stakeholders:

Cheer Holding currently holds more cash than debt on its balance sheet, which could provide the company with the financial flexibility to invest in further research and development or to weather economic downturns. Moreover, analysts are expecting sales growth for the company in the current year, indicating potential confidence in Cheer Holding’s market strategy and product offerings. This is particularly relevant as the company expands its technological reach in the digital asset ecosystem.

From a financial metrics standpoint, Cheer Holding’s gross profit margins stand at an impressive 74.04% for the last twelve months as of Q1 2023, reflecting efficient operations and a strong market position for its products and services. Despite a slight decrease in revenue growth over the same period, the company’s ability to maintain high-profit margins suggests a robust underlying business model.

Investors may also note that Cheer Holding’s stock is currently trading at a low Price / Book multiple of 0.09 as of the last twelve months ending Q1 2023. This could indicate that the stock is undervalued relative to the company’s net assets, presenting a potential opportunity for value investors.

For those interested in a deeper dive into Cheer Holding’s financials and future prospects, InvestingPro offers additional insights and tips. There are 13 more InvestingPro Tips available for Cheer Holding, which can be accessed by visiting: https://www.investing.com/pro/CHR. To get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, use the coupon code PRONEWS24.

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