OTC · MMVVF

MultiMetaVerse Holdings

LIVE · 30s
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Market cap evaporated since listing
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$6.39 → —
De-SPAC merger with Model Performance Acquisition Corp. closed on Jan 5, 2023, listed on Nasdaq as MMV with a day-one market cap of $25.74M. Delisted in Oct 2024, now trades on OTC Pink Sheets as MMVVF.
Live Price
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Market Cap Now
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≈ 37M shares outstanding
Market Cap Lost
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vs. $25.74M day-one valuation

Key Milestones

2023-01-05
De-SPAC merger closes · Nasdaq listing
Reverse-merged with Model Performance Acquisition Corp. (MPAC) and began trading on the Nasdaq Global Market under ticker MMV. Across two redemption windows, ~99% of SPAC shareholders redeemed — only ~$2.2M in cash made it to closing (most of it a fresh PIPE rather than original trust money).
Day-one $6.39 · Cap $25.74M
2023-07
First Nasdaq compliance warning
Public float market value dropped below the $15M minimum required by the Nasdaq Global Market tier.
2023-10
Downgraded to Nasdaq Capital Market
Transferred from Global Market to the lower-threshold Capital Market tier. Retained the MMV ticker.
2024-05
Bowong Technology deal triggers brief spike
Term sheet signed for the acquisition of Bowong Technology. Shares jumped ~114% intraday to $1.33 before fading back below $1 within weeks.
Peak $1.33 · +114% in a day
2024-09
Market cap erodes toward $14M
Stock dropped 16%+ in a single session to $0.44, leaving virtually no buffer above Nasdaq's delisting thresholds.
Price $0.44 · Cap ≈ $14.48M
2024-10-18
Final non-compliance notice from Nasdaq
Simultaneously breached both the $1.00 minimum bid price and the $35M minimum market cap requirements. Delisting process initiated.
2024-10-22
Hearing deadline · failed to restore compliance
Unable to bring both price and market cap back above the thresholds within the cure window. Formally delisted from Nasdaq.
Q4 2024+
Moved to OTC Pink Sheets as MMVVF
Transferred to the over-the-counter market with no market-maker support. Daily volume collapsed — some sessions print just a handful of shares and single-digit dollars of turnover.
2026-05
Current state · approaching zero
Latest printed quote near $0.0002, market cap collapsed to roughly $7,400 — a cumulative drawdown of approximately 99.997% from the day-one valuation.

Why It Collapsed

01 / FUNDAMENTALS

Sustained losses, shrinking revenue

~$9M annual revenue and a ~$28.92M net loss in the last reported period. Trailing-twelve-month revenue down approximately 26% YoY. The "Ultraverse" animation IP never produced stable cash flow.

02 / CAPITAL STRUCTURE

SPAC redemption wipeout

Cumulative redemptions wiped out roughly 99% of the original $57.5M SPAC trust. The combined company began trading with only ~$2.2M in cash — and $2M of that was a fresh PIPE, not original trust money. Effectively zero cash buffer at day one.

03 / THEME ROTATION

The metaverse narrative collapsed

After 2023 the metaverse theme lost its premium across the board. Speculative bid for thematic small-caps evaporated industry-wide, removing MMV's primary valuation support.

04 / REGULATORY

Dual rule violation triggers delisting

Failed both the $1.00 minimum bid and the $35M minimum market cap rules simultaneously. The company could not cure either within the hearing window and was forcibly delisted.

05 / LIQUIDITY

Liquidity dries up on OTC

No market-maker coverage on Pink Sheets. Volume frequently falls under 100 shares per session with turnover in the single digits of dollars. Thin sell pressure cascades the quote toward zero.

06 / ASYMMETRY

Cross-border micro-cap · double-weak

Chinese micro-cap + SPAC reverse-merger + OTC tier — near-zero institutional coverage and no reliable price signal for retail. Remaining holders are effectively trapped in the position.