In addition to recent news on new developments, MWRK appears to be cleaning up the books. In the last few days, the company has issued an S-1 to register shares already issued in previous fund raising. Those shares could alternately be eligible for an exemption to registration. I think it speaks highly of the company to register instead of rely on exemptions.
MWRK looks like it's taking the first steps in an updated plan to grow. I don't think the recent news and housecleaning is indicative of business as usual.
MWRK has brought on a fellow named George Furla who seems to have some pretty big time movie production experience with substantial stars - Mark Wahlberg, Bruce Willis, Sylvester Stallone and Robert De Niro, to name just a few.
My guess (and I am guessing) is that MWRK is making a play for the metaversification of the streaming video market.
Streaming video is all about subscribers - at the moment. But the Streaming industry is suffering with the competition to win and maintain subscribers.
See news out just today ...
PARA- Paramount stock plummets after earnings show widening streaming losses, ad softness
While researching the metaverse and entertainment industries, I found this Fortune article written by Deloitte executives that talks about the struggle for Streaming Services to hold on to young subscribers that subscribe and cancel subscriptions for specific shows and prefer short format videos (youtube and tiktok) and gaming to Streaming anyway.
"This is where the consumer demand of the metaverse—or metaverses – starts to come into focus. For more people, and especially younger generations, entertainment is increasingly social, interactive, personalized, and immersive, bringing in characteristics of the real world and amplifying and unleashing them with the endless possibilities of the digital. If we step back, social media and social gaming already look much more like metaverses than streaming video does."
I want to believe MWRK is targeting that new streaming/game/short-video-format/metaverse space. Maybe I'm dreaming this up connecting dots that aren't there. So, I'll keep watching MWRK. The entertainment metaverse seems to me to be a smart target and one likely to be acquired by a big name streaming company if it has some success establishing traction with a new metaverse entertainment service.
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