Alert

Global Mofy Officially Adopts OpenUSD as Digital Asset Development Standard

BEIJING, April 11, 2024 (GLOBE NEWSWIRE) -- Global Mofy Metaverse Limited (the "Company" or "Global Mofy Metaverse") (Nasdaq: GMM), a technology solutions provider engaged in virtual content production and digital asset development for the broader digital entertainment industry, today announced its strategic decision to officially adopt OpenUSD as the standard for digital asset development. The adoption and utilization of this open and dynamic ecosystem for describing, composing, simulating, and collaborating within 3D environments is endorsed by industry leaders worldwide, including NVIDIA, Meta, Autodesk, and others. This strategic transition to OpenUSD is expected to significantly enhance operational efficiencies and open new revenue streams, positioning the Company for increased profitability in the evolving digital marketplace.

Universal Scene Description (USD) offers numerous advantages across various industries engaged in 3D digital asset creation, including licensing, digital entertainment, the metaverse, and visual effects (VFX) production. Initially created by Pixar Animation Studio, OpenUSD expedites workflows, team collaborations, and project development by enhancing interoperability across various content tools, data formats, workflows, and platforms. It is utilized for crafting digital assets and environments, particularly for the creation of large-scale, AI-enabled virtual worlds, or for developing the tools necessary to bring these innovative worlds into existence.

Mr. Haogang Yang, CEO of Global Mofy Metaverse, stated, “As a leading digital asset developer, owner and licensor, we made this strategic decision to adopt OpenUSD as the standard for all current and future digital asset development. We have also begun converting our existing vast library of digital assets to the OpenUSD standard. This positions us alongside some of the world’s most renowned companies in the race to responsibly develop tools and digital building blocks critical to this rapidly evolving AI and Metaverse-centric universe.”

“The latest version of our proprietary Mofy Lab platform now includes an even more robust, detailed asset labeling and sorting system. We expect this will enable faster, seamless digital asset deployment through AI, giving Global Mofy and our customers significant competitive and time-to-market advantages as we continue to expand and accelerate monetization. This becomes even more important as use cases continue to expand at a fast pace across industrial, medical, entertainment and all other fields.”