WASHINGTON, DC / ACCESSWIRE / April 11, 2023 / Hollywall Entertainment Inc. (OTC PINK:HWAL), a multi-faceted developer, telecommunications, technology, media, and entertainment company, announces that the Company has completed the divestment of its minority-majority controlled infrastructure development subsidiary, Hollywall Development Company, LLC ("HWDC"), led by its Founder, President and Chief Executive Officer, Mr. Darnell Sutton.
In conjunction with the transaction Mr. Sutton has stepped away from his positions as an officer and director of Hollywall Entertainment, Inc. (Hollywall) to continue in his role as HWDC's President and CEO, along with the many Corporate, City, State and Municipal partners in support of the growing pursuits of HWDC developing and providing broadband facilities, fiber and telecommunications networks to underserved communities around the world…with its mission of bringing an end to the ever-widening digital divide by delivering its Fiber to the People networks. Mr. Sutton will also oversee the planned launch of an exciting new Sports Media Television Network and Management Company.
"It has been one of my greatest privileges and my honor to lead Hollywall for over ten years. I thank God for my patient and resilient family as well as the myriad of Hollywall Employees, Staff, Board Members, Corporate Partners and other Stakeholders throughout the years, who have allowed me to serve as the President and CEO of "Your Hollywall" with grace and distinction.
"I remain humbled to this very day in remembrance of the amazing moment God called me to serve Hollywall. I wish to express my tremendous gratitude for your prayers, kindness and unwavering support throughout the years, which now brings to a close of an absolutely wonderful and extraordinary chapter of my ongoing Life Mission in service to others.
"I offer my full support to the Co-Founder of Hollywall and its new President, Ms. Roxanna Green. Ms. Green continues to be one of the staunchest supporters for all Hollywall stakeholders, and her inspired vision for the Company's future undoubtedly makes her the most qualified to lead Hollywall to even greater heights.
"Please join me in welcoming the new President and CEO of Hollywall, Ms. Roxanna Green with your support. We celebrate and honor you, my friend!
I pray that God's abundant blessings and continued success will remain upon Hollywall." - Commented Mr. Sutton.
"We wish to thank Co-Founder Darnell Sutton for his leadership over the past decade and in his efforts to brand Hollywall as a company committed to serve its stakeholders, communities, partners, and staff. We wish Mr. Sutton and his team great success leading HWDC into the next chapter of its mission in service to others and in all of its future endeavors."
"On behalf of HWAL I wish to thank all of our stakeholders for their patience during this time of transition. I look forward to working with our incoming Board of Directors and Advisors in leading HWAL into new and exciting industry sectors with the primary objective of increasing revenues and shareholder value," stated Ms. Green.
Recently HWAL announced that it had formed a new technology division and intends to invest in and acquire operating companies in the AI, Data Center, Blockchain, NFT, Crypto, IOT, and/or Fintech industries.
In addition, HWAL announced the creation of the exclusive Music NFT and gaming project, Legends and Superstars, which is set to launch the first collection of one of kind memorabilia and rare photos and Music NFTs for sale.
A music NFT is a distinct digital asset that is issued on a blockchain and is linked to an individual song, EP, album, or video clip".
The global non-fungible token market size is expected to reach USD 211.72 billion by 2030, growing at a CAGR of 34.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing demand for digital art worldwide is one of the major factors driving the NFT (non-fungible token) market growth. Digital art is defined as the art that is displayed or created using digital technologies.
As published by Chainlink, "Non-fungible tokens (NFTs) have been making waves in the art world, with generative art collections becoming increasingly popular among Web3 enthusiasts and in the traditional art world. Music NFTs have the potential to revolutionize the way artists create, distribute, and earn income from their music. A NFT is a token on a blockchain that is unique. Each NFT has a unique token ID and contract address that sets it apart from other NFTs. While an NFT can be linked to any media, what's typically associated as the "content" of an NFT is stored in its metadata, which can point to images, videos, music, or other forms of media.
Darnell Sutton is the Chairman and CEO of Hollywall Development Company (HWDC), formerly a subsidiary of Hollywall Entertainment, Inc. Mr. Sutton brings forth his many talents and vast experience as a veteran of music recording, television production and broadcasting, sports and music celebrity management and film distribution in support of one of the entertainment industries and wall street's most exciting companies.
HWDC was founded by Mr. Sutton as a consortium of seasoned corporate executives from Investment Banks, Wealth Management Firms, Construction Engineering and Building Companies, Telco and Broadcast Networks, Federal Agencies, State and Local Governments, Non-profits, and Housing Authorities. HWDC is building, restoring and creating ""SMART" cities, communities and telecommunication networks throughout the United States of America. HWDC is committed to Rebuilding the Underserved and Closing the Digital Divide and currently working alongside of Mayors and the City Councils of over 50 cities in the US.
"Darnell Sutton is one of the most exciting master communicators, creative developers and innovators of our time." Tom Stein, Success Magazine.
Mr. Sutton has also represented and worked with some of the greatest athletes and entertainers of our time, including the "King of Pop" Michael Jackson, former heavyweight boxing champion, Mike Tyson, current Welterweight Boxing Champion-Floyd Mayweather, tennis super-star Serena Williams, Julius "Dr. J" Erving and the incomparable multiple Grammy award-winning performers, The Jacksons, Patti Labelle, Roberta Flack, MC Hammer, Dionne Warwick, and Mariah Carey … just to name a few.
About Hollywall Entertainment, Inc.
Hollywall Entertainment, Inc., www.hollywall.com, (HWAL), is a publicly traded multifaceted technology, media, entertainment and broadcasting company engaged in maximizing rights to its music, film, television, home videos and software game libraries. Hollywall owns exclusive and non-exclusive rights to market, manufacture and distribute over 17,500 songs from Music Recording Masters. The master recordings contain performances by such legends as Ray Charles, Ella Fitzgerald, The Jackson 5, Frank Sinatra, Dolly Parton, Elvis Presley, Tony Bennett, The Bee Gees, Chicago, Platters, George Gershwin, Marvin Gaye, James Brown, The Who, Janis Joplin, Rolling Stones, Nat King Cole, John Lee Hooker, Willie Nelson, Rod Stewart, Hall and Oates, James Taylor, Etta James, Aretha Franklin and other multiple platinum selling acts. Learn more at www.hollywall.com
Safe Harbor Forward-Looking Statements:
This press release and the statements of representatives of Hollywall Entertainment, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, the Company's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
Hollywall Entertainment, Inc.
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SOURCE: Hollywall Entertainment Inc.