April 1 news, according to official news, Nasdaq-listed Internet company The9 Limited announced that it had signed a targeted share issuance agreement with cryptocurrency investment funds Elune Capital, Fine Vision Fund and Bripheno Pte. Ltd. Under the agreement, investors will inject $8 million into The9. The9 will issue Class A common shares to investors at the average closing price of the 30 trading days before the agreement is signed, and the issued shares will comply with the statutory lock-up period regulations. The9 will set up a new company to operate its global GameFi platform. The company plans to reach a cooperation with the third-party International Cryptocurrency Foundation to use the GameFi tokens issued by the foundation as the official cryptocurrency of the platform. It will also cooperate with the cryptocurrency exchange to promote platform crypto users to join The9's GameFi ecosystem. The9 will issue 302,263,200 warrants to investors, with the warrants valid for two years. The exercise price of some warrants is US$60 per ADS, and the remaining warrants are divided into two batches: the first batch can be exercised after the investor or its business partners sign a strategic cooperation agreement with The9, and the second batch must be exercised after the GameFi platform of The9 is officially launched. The exercise price is the same as the issuance price of the ADS in this agreement.