PANews reported on December 25th that, according to a Hong Kong Stock Exchange announcement, Virtual Mind Holding Company Limited (stock code: 1520) issued a supplementary announcement clarifying the use of funds from the share subscription and warrant issuance. The company plans to raise approximately HK$60 million through the share subscription and warrant issuance, of which approximately 16.6% (HK$10 million) will be used to advance existing sports-related intellectual property projects, including the development, promotion, marketing, and member interaction activities of physical and digital intellectual property products related to La Liga clubs.

The company will leverage Web3 blockchain technology to empower its intellectual property products, enabling products to be "on-chain" and creating unique and traceable digital identities. At the same time, it will combine artificial intelligence and virtual reality technologies to digitize products, such as displaying videos, animations, or enabling real-time interaction by scanning sports collectible cards.