{"id":175110,"date":"2023-10-16T17:24:38","date_gmt":"2023-10-16T11:54:38","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=175110"},"modified":"2023-10-16T17:24:38","modified_gmt":"2023-10-16T11:54:38","slug":"meitu-plans-selling-crypto-holdings-to-focus-on-ai-business-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/meitu-plans-selling-crypto-holdings-to-focus-on-ai-business-crypto-news\/","title":{"rendered":"Meitu Plans Selling Crypto Holdings To Focus On AI Business – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Hong Kong-listed company Meitu plans to sell its crypto investment gradually and focus on artificial intelligence<\/a> (AI) business. The move comes as Meitu\u2019s AI business becomes a major growth driver for the company. Meanwhile, the company will no longer invest in crypto as its investment that the market is paying attention has dropped in value.<\/p>\n

Meitu Selling Its Crypto Investments<\/h2>\n

Meitu, the first Hong Kong-listed firm to buy Bitcoin and Ethereum worth nearly $100 million, will no longer focus on crypto and may sell its crypto holdings gradually, reported<\/a> local media on October 16.<\/p>\n

<\/p>\n

Kang Yicong, senior investor relations manager of Meitu, said:<\/p>\n

\n

\u201cThe profit was largely attributed to the company\u2019s subscription system, which prevents the company\u2019s earnings from fluctuating significantly due to macroeconomic changes.\u201d<\/p>\n<\/blockquote>\n

The AI business is a growth driver for Meitu and the company will focus on it to turn loss into profit. The AI product subscriptions such as \u201cMeitu Design Studio\u201d will help its profit contribution to continue increasing with time. Some companies have switched to using Meitu for product introductions instead of hiring models and photographers at higher prices. This helps companies reduce their expenditures.<\/p>\n

<\/p>\n

ChatGPT Brings AI Focus<\/h2>\n

<\/p>\n

ChatGPT\u2019s introduction this year has revolutionized AI products and solutions. Meitu has also invested extensively in artificial intelligence. Meitu launched enterprise AI vision solution MiracleVision 3.0 this October to continue to increase its profits.<\/p>\n

Kang Yicong said the company is working harder to expand its corporate customer base, with new solutions such as \u201cBeauty Industry\u201d to help merchants provide consumers with services such as makeup testing and skin testing.<\/p>\n

The crypto market has a bearish phase, decreasing the crypto holdings of Meitu from profit to loss. The purchase in 2021 bull market was a strategic investment.<\/p>\n

Also Read:<\/strong><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"<\/div>\n
Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"will_cramer_curse_strike_again_720\"\"will_cramer_curse_strike_again_720\"<\/div>\n
Will Cramer Curse Strike Again? <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"<\/div>\n
Mercedes Benz To Release NFT Collection With Fingerprints DAO <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Hong Kong-listed company Meitu plans to sell its crypto investment gradually and focus on artificial intelligence (AI) business. The move comes as Meitu\u2019s AI business becomes a major growth driver for the company. Meanwhile, the company will no longer invest in crypto as its investment that the market is paying attention has dropped in value. […]<\/p>\n","protected":false},"author":2,"featured_media":175111,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-175110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=175110"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175110\/revisions"}],"predecessor-version":[{"id":175113,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/175110\/revisions\/175113"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/175111"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=175110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=175110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=175110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}