Asset Entities Inc. Acquires 50% Ownership Interest in Adaptation Rights for “One Step Closer: From Xero to #1: Becoming Linkin Park” Literary Work

Asset Entities Inc. (NASDAQ:ASST) announced on December 2, 2024, that the company has entered into a Purchase Agreement with Jeff Blue, granting the company a 50% ownership interest in the film, TV, streaming, and other media adaptation rights to the literary work titled “One Step Closer: From Xero to #1: Becoming Linkin Park.” This agreement was officially executed on November 25, 2024.

The Purchase Agreement specifies several conditions precedent for the acquisition, including the approval of the chain-of-title to the literary work by Asset Entities Inc. and the submission of necessary tax forms and other documents for payment processing. As per the terms outlined in the agreement, Jeff Blue, the owner of the work, will receive a payment of $120,000 within five business days following the satisfaction of these conditions. Additionally, an additional payment of $40,000 will be made to Jeff Blue for creating a screenplay, with specific payment milestones.

Under the agreement, Asset Entities Inc. will hold 50% ownership of various adaptation rights to the literary work, including motion pictures, sequels, remakes, series, and more. However, the owner, Jeff Blue, will retain 100% of the proceeds generated from book sales and the right to develop an A&R series or documentary based on the Linkin Park story. Jeff Blue will serve as a producer for the adaptation and provide consultation on key creative and development matters. Both parties have provided representations and warranties regarding their authority to enter into this agreement and their ownership of the adaptation rights.

The full details of the Purchase Agreement are available as Exhibit 10.1 in the company’s recent SEC filing.

Asset Entities Inc. (NASDAQ:ASST) is an emerging growth company per Rule 405 of the Securities Act of 1933. The company, based in Nevada, operates under the ticker symbol ASST on The Nasdaq Stock Market LLC.

For further information, the complete filing can be accessed on the Securities and Exchange Commission’s website.

No financial statements were included in this report.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Asset Entities’s 8K filing here.

Asset Entities Company Profile

Asset Entities Inc, a technology company, provides social media marketing and content delivery services across Discord, TikTok, and other social media platforms. It designs, develops, and manages servers for communities on Discord. The company offers discord investment education, entertainment, and marketing services.