# EDGAR Filing Document

**Accession Number:** 0001874074
**File Stem:** 0001213900-23-002034
**Filing Date:** 2023-1
**Character Count:** 95331
**Document Hash:** 7cc70c11178a1f807be006f2cca9f40d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-002034.hdr.sgml**: 20230110

**ACCESSION NUMBER**: 0001213900-23-002034

**CONFORMED SUBMISSION TYPE**: 20FR12B

**PUBLIC DOCUMENT COUNT**: 11

**FILED AS OF DATE**: 20230110

**DATE AS OF CHANGE**: 20230110

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MultiMetaVerse Holdings Ltd
- **CENTRAL INDEX KEY:** 0001874074
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 20FR12B
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41587
- **FILM NUMBER:** 23521357

**BUSINESS ADDRESS:**
- **STREET 1:** BUILDING D3, 718 LINGSHI ROAD
- **STREET 2:** JING'AN DISTRICT
- **CITY:** SHANGHAI
- **STATE:** F4
- **ZIP:** 200072
- **BUSINESS PHONE:** 86-21-61853907

**MAIL ADDRESS:**
- **STREET 1:** BUILDING D3, 718 LINGSHI ROAD
- **STREET 2:** JING'AN DISTRICT
- **CITY:** SHANGHAI
- **STATE:** F4
- **ZIP:** 200072

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Model Performance Mini Corp.
- **DATE OF NAME CHANGE:** 20210721

**UNITED STATES<br> SECURITIES AND EXCHANGE COMMISSION<br> WASHINGTON, D.C. 20549**

**FORM 20-F**

**(Mark One)<br> ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE<br> ACT OF 1934**

**OR**

**☐ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the fiscal year ended _________________**

**OR**

**☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF**

**1934**

**OR**

**☒ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT**

**OF 1934**

**Date of event requiring this shell company report: January 4, 2023**

**Commission File Number: 001-41587**

**MULTIMETAVERSE HOLDINGS LIMITED<br> (Exact name of Registrant as specified in its charter)**

Not applicable British Virgin Islands <br> (Translation of Registrant's name into English) (Jurisdiction of incorporation or organization)

Building D3, No. 718, Lingshi Road, Jingan District<br> Shanghai, China, 200072<br> (**Address of Principal Executive Offices**)

Mr. Yiran Xu, Chief Executive Officer<br> Building D3, No. 718, Lingshi Road, Jingan District<br> Shanghai, China, 200072<br> Tel: +86 21 61853907<br> Email: alex.xu@7doc.cn<br> (**Name, Telephone, Email and/or Facsimile number and Address of Company Contact Person**)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on<br> which registered** |
| Class A ordinary shares, no par value per share | MMV | The Nasdaq Stock Market LLC |
| Warrants to purchase Class A ordinary shares | MMVWW | The Nasdaq Stock Market LLC |

---

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Indicate the number of outstanding shares of each of the issuer's classes of capital or common stock as of January 4, 2023: 32,798,890 Class A ordinary shares and 3,021,244 warrants.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes ☐ No ☐

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of "large accelerated filer", "accelerated filer," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒<br> Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act. ☐

† The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:

U.S. GAAP ☒ International Financial Reporting Standards as issued by the International Accounting Standards Board ☐ Other ☐

If "Other" has been checked in response to the previous question indicate by check mark which financial statement item the registrant has elected to follow. Item 17 ☐ Item 18 ☐

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☐

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| | | **Page** |
| [CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS](#a_001) | [CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS](#a_001) | ii |
| [EXPLANATORY NOTE](#a_002) | [EXPLANATORY NOTE](#a_002) | iii |
| [PART I](#a_003) | [PART I](#a_003) | 1 |
|  | [ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS](#a_004) | 1 |
|  | [ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE](#a_005) | 1 |
|  | [ITEM 3. KEY INFORMATION](#a_006) | 1 |
|  | [ITEM 4. INFORMATION ON THE COMPANY](#a_007) | 2 |
|  | [ITEM 4A. UNRESOLVED STAFF COMMENTS](#a_008) | 3 |
|  | [ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS](#a_009) | 3 |
|  | [ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES](#a_010) | 3 |
|  | [ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS](#a_011) | 3 |
|  | [ITEM 8. FINANCIAL INFORMATION](#a_012) | 4 |
|  | [ITEM 9. THE OFFER AND LISTING](#a_013) | 5 |
|  | [ITEM 10. ADDITIONAL INFORMATION](#a_014) | 6 |
|  | [ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS](#a_015) | 7 |
|  | [ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES](#a_016) | 7 |
| [PART II](#a_037) | [PART II](#a_037) | 8 |
|  | [ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES](#a_017) | 8 |
|  | [ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS](#a_018) | 8 |
|  | [ITEM 15. CONTROLS AND PROCEDURES](#a_019) | 8 |
|  | [ITEM 16. \[RESERVED\]](#a_038) | 8 |
|  | [ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT](#a_020) | 8 |
|  | [ITEM 16B. CODE OF ETHICS](#a_021) | 8 |
|  | [ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES](#a_025) | 8 |
|  | [ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES](#a_026) | 8 |
|  | [ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS](#a_027) | 8 |
|  | [ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT](#a_028) | 8 |
|  | [ITEM 16G. CORPORATE GOVERNANCE](#a_029) | 9 |
|  | [ITEM 16H. MINE SAFETY DISCLOSURE](#a_030) | 9 |
| [PART III](#a_032) | [PART III](#a_032) | 10 |
|  | [ITEM 17. FINANCIAL STATEMENTS](#a_033) | 10 |
|  | [ITEM 18. FINANCIAL STATEMENTS](#a_034) | 10 |
|  | [ITEM 19. EXHIBITS](#a_035) | 10 |

---

-i-

**CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS**

This Shell Company Report on Form 20-F (including information incorporated by reference herein, the "Report") is being filed by MultiMetaVerse Holdings Limited, a British Virgin Islands business company. Unless otherwise indicated, "we," "us," "our," "MMV" and "PubCo," and similar terminology refer to MultiMetaVerse Holdings Limited and its subsidiaries subsequent to the Business Combination (defined below). References to "Legacy MMV" and "MultiMetaVerse Inc." refer to MultiMetaVerse Inc., a Cayman Islands exempted company.

This Report contains or may contain forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act") that involve significant risks and uncertainties. All statements other than statements of historical facts are forward-looking statements. These forward-looking statements include information about our possible or assumed future results of operations or our performance. Words such as "expects," "intends," "plans," "believes," "anticipates," "estimates," and variations of such words and similar expressions are intended to identify the forward-looking statements. The risk factors and cautionary language referred to or incorporated by reference in this Report provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations described in our forward-looking statements, including among other things, the items identified in the "Risk Factors" section of PubCo's registration statement on Form F-4 (File No. 333-267125) initially filed with the Securities and Exchange Commission (the "SEC") on August 29, 2022, as amended (the "Form F-4"), which are incorporated herein by reference.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Report. Although we believe that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements contained in this Report, or the documents to which we refer readers in this Report, to reflect any change in our expectations with respect to such statements or any change in events, conditions or circumstances upon which any statement is based.

-ii-

**EXPLANATORY NOTE**

Model Performance Acquisition Corp., a British Virgin Islands business company ("MPAC"), Model Performance Mini Corp., a British Virgin Islands business company ("PubCo"), Model Performance Mini Sub Corp., a Cayman Islands exempted company and wholly-owned subsidiary of PubCo (the "Merger Sub"), and MultiMetaVerse Inc., a Cayman Islands exempted company ("Legacy MMV"), entered into a Merger Agreement dated as of August 6, 2021 (as amended on January 6 and September 29, 2022, the "Merger Agreement"). The Merger Agreement provided for a business combination which was effected in two steps: (i) MPAC reincorporated to British Virgin Islands by merging with and into PubCo, with PubCo remaining as the surviving publicly traded entity (the "Reincorporation Merger"); (ii) following the Reincorporation Merger, Merger Sub merged with and into Legacy MMV, resulting in Legacy MMV being a wholly owned subsidiary of PubCo (the "Acquisition Merger," together with Reincorporation Merger, the "Business Combination").

On November 3, 2022, MPAC and PubCo entered into a subscription agreement (the "Prominence Agreement") with Prominence Investment Management Ltd. ("Prominence"), pursuant to which MPAC and PubCo have agreed to issue and sell to Prominence an aggregate of 1,200,000 PubCo Class A ordinary shares, for an aggregate purchase price of $12,000,000 at $10.00 per share.

On January 4, 2023, PubCo consummated the Business Combination pursuant to the terms of the Merger Agreement and Legacy MMV became a wholly owned subsidiary of PubCo. In connection with the Business Combination, Prominence or its assignees invested and will invest an aggregate investment of $12 million PIPE financing pursuant to the Prominence Agreement, $2 million of which was closed on January 4, 2023 concurrently with the Business Combination and the remaining $10 million is expected to be closed soon after the Business Combination. This Report is being filed in connection with the Business Combination.

-iii-

**PART I**

**ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS**

A. Directors and Senior Management

The directors and executive officers upon consummation of the Business Combination are set forth in the Form F-4 in the section entitled "Directors and Executive Officers of the Combined Company After the Business Combination" and is incorporated herein by reference.

Except for Mo Zhou and Xin Li, the address of our directors and executive officers is Building D3, No. 718, Lingshi Road, Jingan District, Shanghai, People's Republic of China. The business address of Mo Zhou is 2690 Hammond Road, Mississauga, Ontario, Canada. The business address of Xin Li is Liuxiang Road No. 84 Courtyard, Building 2, Unit 2, 28th Floor, Room 2805, Fengtai District, Beijing, People's Republic of China.

B. Advisors

Not applicable.

C. Auditors

Marcum LLP ("Marcum"), 6002 Rogerdale Road, Suite 300 Houston, Texas 77072, acted as Model Performance Acquisition Corp.'s independent registered public accountant since January 8, 2021 (inception) through January 4, 2023, the date of the Business Combination.

Following the consummation of the Business Combination, Marcum Asia CPAs LLP ("MarcumAsia") (formerly known as Marcum Bernstein & Pinchuk LLP), Seven Penn Plaza, Suite 830, New York, New York 10001, the independent auditor of Legacy MMV, is being engaged as the independent auditor of PubCo.

**ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE**

Not Applicable.

**ITEM 3. KEY INFORMATION**

A. Selected Financial Data

The information regarding Legacy MMV's selected financial information is included in the Form F-4 in the section entitled "Selected Historical Combined and Consolidated Financial and Operating Data of MMV," which is incorporated herein by reference.

B. Capitalization and Indebtedness

Not applicable.

C. Reasons for the Offer and Use of Proceeds

Not applicable.

D. Risk Factors

The risk factors associated with PubCo's business are described in the Form F-4 in the section entitled "Risk Factors" and are incorporated herein by reference.

**ITEM 4. INFORMATION ON THE COMPANY**

A. History and Development of the Company

PubCo was formed to serve as a holding company for MMV and MPAC after consummation of the Business Combination contemplated by the Merger Agreement. PubCo, a British Virgin Islands business company, was formed on July 13, 2021. Prior to the Business Combination, PubCo owned no material assets and did not operate any business. PubCo's principal executive office is located at Building D3, No. 718, Lingshi Road, Jingan District, Shanghai, People's Republic of China, telephone number is +86 21 61853907.

On January 4, 2023 the parties consummated the Business Combination, and an aggregate of 2,033,867 ordinary shares of MPAC were redeemed. In connection with closing of the Business Combination, Prominence or its assignees invested and will invest an aggregate investment of $12 million PIPE financing pursuant to the Prominence Agreement, $2 million of which was closed on January 4, 2023 concurrently with the Business Combination and the remaining $10 million is expected to be closed soon after the Business Combination.

B. Business Overview

Following and as a result of the Business Combination, PubCo conduct its operation primarily in China through (i) Legacy MMV's PRC subsidiaries, including Shanghai Mi Ting Culture and Creative Co., Ltd. (the "WFOE") and its subsidiaries, Shanghai Ling Xu Technology Co., Ltd. and Beijing Mi Ting Technology Co., Ltd. (collectively, the "PRC Subsidiaries"), in which Legacy MMV holds equity ownership interests, and (ii) the variable interest entities, namely Shanghai Jupiter Creative Design Co., Ltd. ("Shanghai Jupiter") and its subsidiaries (collectively, the "VIEs"). A description of the business of Legacy MMV is included in the Form F-4 in the sections entitled "Information about MMV" and "Management Discussion and Analysis of Financial Condition and Results of Operations of MMV," which is incorporated herein by reference.

C. Organizational Structure

Upon consummation of the Business Combination, Legacy MMV became a wholly owned subsidiary of PubCo. PubCo's organizational chart is below:

![](image_001.jpg)

D. Property, Plants and Equipment

Legacy MMV leases the properties for its principal executive office, which is located on Building D3, No. 718, Lingshi Road, Jingan District, Shanghai, People's Republic of China, People's Republic of China with an aggregate area of approximately 3,776 square meters. Legacy MMV also leases another property in Shanghai with an aggregate area of 850 square meters. Such properties are described in the Form F-4 in the section entitled "Information about MMV" and are incorporated herein by reference. In addition, Legacy MMV entered into a lease agreement on January 1, 2023 for a property located in Beijing with an aggregate area of approximately 280 square meters. This property will be used mainly as office space, and the lease agreement will expire on December 31, 2023.

**ITEM 4A. UNRESOLVED STAFF COMMENTS**

None.

**ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS**

The discussion and analysis of the financial condition of Legacy MMV is included in the Form F-4 in the section entitled "Management Discussion and Analysis of Financial Condition and Results of Operations of MMV," which is incorporated herein by reference.

**ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES**

A. Directors and Executive Officers

See "Item 1. Identity of Directors, Senior Management and Advisers—A. Directors and Senior Management."

B. Compensation

The executive compensation of PubCo's executive officers and directors is described in the Form F-4 in the section entitled "Directors and Executive Officers of the Combined Company after the Business Combination" which information is incorporated herein by reference.

C. Board Practices

See "Item 1. Identity of Directors, Senior Management and Advisers—A. Directors and Senior Management."

D. Employees

As of September 30, 2022, MMV had 210 full-time employees, all of whom are based in China, primarily at its headquarters in Shanghai, China.

E. Share Ownership

Ownership of PubCo's shares by its executive officers and directors upon consummation of the Business Combination is set forth in Item 7.A of this Report.

**ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS**

A. Major Shareholders

The following table sets forth information regarding the beneficial ownership of our ordinary shares as of January 4, 2023 by:

● each person known by us to be the beneficial owner of more than 5% of our outstanding shares;

● each of our officers and directors; and

● all our officers and directors as a group.

The calculations in the table below are based on 32,798,890 ordinary shares issued and outstanding as of January 4, 2023.

---

| | | |
|:---|:---|:---|
| **Name and Address of Beneficial Owner** | **Number of Shares** | **% of Class** |
| ***Five Percent or Greater Holders*** | | |
| First Euro Investments Limited<sup>(1)</sup> | 1759250 | 5.4% |
| Avatar Group Holdings Limited<sup>(2)</sup> | 15632831 | 47.7% |
| Lucky Cookie Holdings Limited<sup>(3)</sup> | 21932831 | 66.9% |
| F.L.M Holdings Limited<sup>(4)</sup> | 2016000 | 6.1% |
| ***Directors and Executive Officers*** |  |  |
| Yiran Xu | 21932831 | 66.9% |
| Tao Li | 312657 | 1.0% |
| Xiaodan Qu | 2016000 | 6.1% |
| Xing Lyu |  |  |
| Mo Zhou |  |  |
| Xin Li |  |  |
| Scott Hartsman |  |  |
| Nicole Chen |  |  |
| *All Directors and Executive Officers as a group (8 individuals)* | 24261488 | 74.0% |

---

(1) First Euro Investments Limited is controlled by its director, Ms. Yuet Bun Wu. The business address of
 First Euro Investments Limited is The Suns Group Center, 200 Gloucester Road, 29th Floor, Wan Chai, Hong Kong.

(2) Avatar Group Holdings Limited is controlled by its director, Mr. Yanzhi Wang. The address of Avatar is
 Sertus Chambers, P.O. Box 905, Quastisky Building, Road Town, Tortola, British Virgin Islands.

(3) Lucky Cookie Holdings Limited is controlled by its director, Mr. Yiran Xu. The address of Lucky Cookie
 is Sertus Chambers, P.O. Box 905, Quastisky Building, Road Town, Tortola, British Virgin Islands.

(4) F.L.M Holdings Limited is controlled by its director, Mr. Xiaodan Qu. The address of F.L.M Holdings is
 Sertus Chambers, P.O. Box 905, Quastisky Building, Road Town, Tortola, British Virgin Islands.

B. Related Party Transactions

Our related party transactions are described in the Form F-4 in the section entitled "Certain Relationships and Related Party Transactions" which is incorporated by reference herein.

C. Interests of Experts and Counsel

Not Applicable.

**ITEM 8. FINANCIAL INFORMATION**

A. Consolidated Statements and Other Financial Information

See Item 18 of this Report.

B. Significant Changes

Not applicable.

**ITEM 9. THE OFFER AND LISTING**

A. Offer and Listing Details

Our Class A ordinary shares are listed on Nasdaq Global Market under the symbols "MMV" and our warrants are listed on the Nasdaq Capital Market and "MMVWW," respectively.

B. Plan of Distribution

Not applicable.

C. Markets

Our Class A ordinary shares are listed on Nasdaq Global Market under the symbols "MMV" and our warrants are listed on the Nasdaq Capital Market and "MMVWW," respectively.

D. Selling Shareholders

Not applicable.

E. Dilution

Not applicable.

F. Expenses of the Issue

Not applicable.

**ITEM 10. ADDITIONAL INFORMATION**

A. Share Capital

As of the date of this Report, we are authorized to issue a maximum of 111,000,000 shares with no par value divided into 100,000,000 Class A ordinary shares, 10,000,000 Class B ordinary shares and 1,000,000 preferred shares. As of January 4, 2023, subsequent to closing of the Business Combination, there were 32,798,890 Class A ordinary shares outstanding. There were also 3,021,244 warrants outstanding, each exercisable to purchase one Class A ordinary share at a price of $11.50 per full share. Certain of our shareholders are subject to lock-up as contained in the Form F-4 in the section entitled "Proposal No. 2—The Acquisition Merger Proposal—Certain Related Agreements—Lock-up Agreement and Arrangements."

In connection with the Business Combination, certain of our shareholders (the "Restricted Shareholders") entered into Share Restriction Agreements, which provide that (i) an aggregate of 5,000,000 Class A ordinary shares they received in connection with the Business Combination ("Restricted Closing Payment Shares") will be non-transferable and subject to forfeiture by the PubCo if the Release Event (as defined below) does not occur within 12 months following the Business Combination, (ii) such Restricted Closing Payment Shares shall vest and become transferable and non-forfeitable upon the successful creation of a new gameplay coupled with a public announcement regarding release of the new gameplay, whether through the introduction of a new mobile game or updates to an existing mobile game to revamp its gameplay and commercial appeal (the "Release Event"), with the determination of whether an event is deemed a Release Event to be determined by a majority vote of the independent directors of the board of the PubCo in their sole discretion; and (iii) until the vesting of the Restricted Closing Payment Shares, such Restricted Closing Payment Shares shall be held in escrow in accordance with the Share Restriction Agreements.

B. Memorandum and Articles of Association

We are a BVI business company incorporated under the laws of the British Virgin Islands and our affairs are governed by our memorandum and articles of association, as amended and restated from time to time, and BVI Business Companies Act, 2004 (as amended), which we refer to as the "Companies Act" below, and the common law of the BVI.

We incorporate by reference into this Report our Amended and Restated Memorandum and Articles of Association, the form of which was filed as Annex B to our registration statement on Form F-4 (File No. 333-267125) initially filed with the Securities and Exchange Commission on August 29, 2022, as amended, which are incorporated herein by reference. Our shareholders adopted our Amended and Restated Memorandum and Articles of Association by a resolution of shareholders on January 3, 2023, which became effective upon the effective date of the Reincorporation Merger.

The following are summaries of material provisions of our Amended and Restated Memorandum and Articles of Association and the Companies Act insofar as they relate to the material terms of our ordinary shares.

**Registered Office**

Our registered office is at Ritter House, Wickhams Cay II, PO Box 3170, Road Town, Tortola VG 1110, British Virgin Islands, the office of our registered agent Ogier Global (BVI) Limited.

**Capacity and Power**

According to Clause 4 of our Amended and Restated Memorandum of Association, we have, subject to the Companies Act and any other British Virgin Islands legislation for the time being in force, irrespective of corporate benefit: (a) full capacity to carry on or undertake any business or activity, do any act or enter into any transaction; and (b) for the purposes of paragraph (a), full rights, powers and privileges.

**Board of Directors**

See "Item 6. Directors, Senior Management and Employees."

**Ordinary Shares**

The description of our ordinary shares is contained in the Form F-4 in the section entitled "Description of Combined Company's Securities," which is incorporated herein by reference.

C. Material Contracts

The description of our Material Contracts is contained in the Form F-4 in the section entitled "Information about MMV—Contractual Arrangements with MMV's VIEs and Their Respective Shareholders," which is incorporated herein by reference.

D. Exchange Controls and Other Limitations Affecting Security Holders

Under the laws of the British Virgin Islands, there are currently no restrictions on the export or import of capital, including foreign exchange controls or restrictions that affect the remittance of dividends, interest or other payments to non-resident holders of our ordinary shares.

E. Taxation

The material United States federal income tax consequences of owning and disposing of our securities following the Business Combination are described in the Form F-4 in the sections entitled "Material U.S. Federal Income Tax Consequences," which is incorporated herein by reference.

F. Dividends and Paying Agents

PubCo has no current plans to pay dividends. PubCo does not currently have a paying agent.

G. Statement by Experts

Not applicable.

H. Documents on Display

We are subject to certain of the informational filing requirements of the Exchange Act. Since we are a "foreign private issuer," we are exempt from the rules and regulations under the Exchange Act prescribing the furnishing and content of proxy statements, and our officers, directors and principal shareholders are exempt from the reporting and "short-swing" profit recovery provisions contained in Section 16 of the Exchange Act, with respect to their purchase and sale of our shares. In addition, we are not required to file reports and financial statements with the SEC as frequently or as promptly as U.S. companies whose securities are registered under the Exchange Act. However, we are required to file with the SEC an Annual Report on Form 20-F containing financial statements audited by an independent accounting firm. The SEC also maintains a website at http://www.sec.gov that contains reports and other information that we file with or furnish electronically with the SEC.

I. Subsidiary Information

Not applicable.

**ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS**

The information set forth in the section entitled "Management Discussion and Analysis of Financial Condition and Results of Operations of MMV —Quantitative and Qualitative Disclosure about Market Risk" in the Form F-4 is incorporated herein by reference.

**ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES**

Not applicable.

**PART II**

**ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES**

Not required

**ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS**

Not required

**ITEM 15. CONTROLS AND PROCEDURES**

Not required

**ITEM 16. [RESERVED]**

Not required

**ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT**

Not required

**ITEM 16B. CODE OF ETHICS**

Not required

**ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES**

Not required

**ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES**

Not required

**ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS**

None

**ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT**

Following the consummation of the Business Combination, MarcumAsia, the independent auditor of Legacy MMV, is being engaged as the independent auditor of PubCo. In connection with the Business Combination, Marcum, which was the auditor for Model Performance Acquisition Corp., was informed that it would no longer be our auditor.

The reports of Marcum on the financial statements of Model Performance Acquisition Corp. as of December 31, 2021, and for the period from January 8, 2021 (inception) through December 31, 2021 did not contain any adverse opinion or a disclaimer of opinion, nor were such reports qualified or modified as to uncertainty, audit scope, or accounting principles. Marcum's audit report contained an explanatory paragraph related to the substantial doubt of going concern.

During the period from January 8, 2021 (inception) through December 31, 2021 and through the effective date of the Business Combination (the "Effective Date"), there were no disagreements with Marcum on any matter of accounting principles or practices, financial statement disclosures, or auditing scope or procedure, which such disagreements, if not resolved to the satisfaction of Marcum, would have caused Marcum to make reference thereto in its reports on the financial statements of Model Performance Acquisition Corp. for such periods. During the period from January 8, 2021 (inception) through December 31, 2021 and through the Effective Date, there were no "reportable events" as that term is described in paragraphs (A) through (D) of Item 16F(a)(1)(v) of Form 20-F.

During the period from January 8, 2021 (inception) through December 31, 2021 and through the Effective Date, neither PubCo, nor anyone on its behalf, consulted MarcumAsia regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered with respect to the financial statements of PubCo and neither a written report was provided to PubCo or oral advice was provided that MarcumAsia concluded was an important factor considered by PubCo in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a "disagreement," as that term is defined in Item 16F(a)(1)(iv) of Form 20-F and the related instructions to Item 16F of Form 20-F, or a "reportable event," as that term is described in Item 16F(a)(1)(v) of Form 20-F.

PubCo provided Marcum with a copy of the disclosure it is making in this Report and requested that Marcum furnish PubCo with a letter addressed to the U.S. Securities and Exchange Commission (the "SEC"), pursuant to Item 16F(a)(3) of Form 20-F, stating whether Marcum agrees with the statements made by PubCo in this Report, and if not, in which respects Marcum does not agree. A copy of Marcum's letter to the Securities and Exchange Commission dated January 10, 2023 is attached as Exhibit 15.1 to this Report.

**ITEM 16G. CORPORATE GOVERNANCE**

Not required.

**ITEM 16H. MINE SAFETY DISCLOSURE**

Not applicable.

**PART III**

**ITEM 17. FINANCIAL STATEMENTS**

See "Item 18. Financial Statements."

**ITEM 18. FINANCIAL STATEMENTS**

The disclosures on pages F-1 to F-104 of our proxy statement/prospectus dated December 6, 2022, as filed with the SEC on December 6, 2022, are incorporated by reference herein.

The information set forth in the Form F-4 in the section entitled "Unaudited Pro Forma Condensed Combined Financial Information" is incorporated herein by reference.

**ITEM 19. EXHIBITS**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 1.1 | [Amended and Restated Memorandum and Articles of Association of PubCo (incorporated by reference to Annex B of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674-27_f4.htm#tANNEXB) |
| 2.1\* | [Specimen of ordinary share of PubCo](ea171395ex2-1_multimeta.htm) |
| 2.2\* | [Specimen of warrant of PubCo](ea171395ex2-2_multimeta.htm) |
| 2.5 | [Warrant Agreement (incorporated by reference to Exhibit 4.1 of MPAC's current report on Form 8-K filed with the SEC on April 13, 2021)](http://www.sec.gov/Archives/edgar/data/1841993/000110465921049596/tm2112769d1_ex4-1.htm) |
| 2.6\* | [Supplemental Warrant Agreement dated January 4, 2023](ea171395ex2-6_multimeta.htm) |
| 4.1 | [Merger Agreement dated August 6, 2021 (incorporated by reference to Exhibit 2.1 to MPAC's current report on Form 8-K filed with the SEC on August 9, 2021)](http://www.sec.gov/Archives/edgar/data/1841993/000110465921101721/tm2124395d1_ex2-1.htm) |
| 4.2 | [First Amendment to Merger Agreement, dated January 6, 2022 (incorporated by reference to Exhibit 2.1 to MPAC's current report on Form 8-K filed with the SEC on January 6, 2022)](http://www.sec.gov/Archives/edgar/data/1841993/000110465922001895/tm2136502d1_ex2-1.htm) |
| 4.3 | [Second Amendment to Merger Agreement, dated January 6, 2022 (incorporated by reference to Exhibit 2.3 to MPAC's current report on Form 8-K filed with the SEC on September 30, 2022)](http://www.sec.gov/Archives/edgar/data/1841993/000110465922104622/tm2226915d1_ex2-3.htm) |
| 4.4\* | [MultiMetaVerse Holdings Limited 2023 Share Incentive Plan](ea171395ex4-4_multimeta.htm) |
| 4.5 | [Technical Consultation and Service Agreement dated May 8, 2021 by and between Shanghai Mi Ting Culture Creativity Co., Ltd. and Shanghai Jupiter Creative Design Co., Ltd. (incorporated by reference to Exhibit 10.16 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-16.htm) |
| 4.5 | [Equity Interest Pledge Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Ke Xing Shi Dai (Beijing) Technology Co., Ltd. (incorporated by reference to Exhibit 10.17 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-17.htm) |
| 4.6 | [Equity Interest Pledge Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Horgos Gaea Network Technology Co., Ltd. (incorporated by reference to Exhibit 10.18 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-18.htm) |
| 4.7 | [Equity Interest Pledge Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Shanghai Zi Tang Culture Communication Limited Partnership (incorporated by reference to Exhibit 10.19 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-19.htm) |
| 4.8 | [Equity Interest Pledge Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Xiaodan Qu (incorporated by reference to Exhibit 10.20 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-20.htm) |
| 4.9 | [Exclusive Call Option Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Ke Xing Shi Dai (Beijing) Technology Co., Ltd. (incorporated by reference to Exhibit 10.21 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-21.htm) |

---

---

| | |
|:---|:---|
| 4.10 | [Exclusive Call Option Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Horgos Gaea Network Technology Co., Ltd. (incorporated by reference to Exhibit 10.22 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-22.htm) |
| 4.11 | [Exclusive Call Option Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Shanghai Zi Tang Culture Communication Limited Partnership (incorporated by reference to Exhibit 10.23 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-23.htm) |
| 4.12 | [Exclusive Call Option Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Xiaodan Qu (incorporated by reference to Exhibit 10.24 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-24.htm) |
| 4.13 | [Proxy Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Ke Xing Shi Dai (Beijing) Technology Co., Ltd. (incorporated by reference to Exhibit 10.25 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-25.htm) |
| 4.14 | [Proxy Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Horgos Gaea Network Technology Co., Ltd. (incorporated by reference to Exhibit 10.26 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-26.htm) |
| 4.15 | [Proxy Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Shanghai Zi Tang Culture Communication Limited Partnership (incorporated by reference to Exhibit 10.27 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-27.htm) |
| 4.16 | [Proxy Agreement dated May 8, 2021 by and among Shanghai Mi Ting Culture Creativity Co., Ltd., Shanghai Jupiter Creative Design Co., Ltd. and Xiaodan Qu (incorporated by reference to Exhibit 10.28 of PubCo's registration statement on Form F-4 (File No. 333-267125), filed with the SEC on August 29, 2022)](http://www.sec.gov/Archives/edgar/data/1874074/000110465922095241/tm2124674d29_ex10-28.htm) |
| 4.17 | [Form of Amended and Restated Registration Rights Agreement (incorporated by reference to Exhibit 10.2 to MPAC's current report on Form 8-K filed with the SEC on August 9, 2021)](http://www.sec.gov/Archives/edgar/data/1841993/000110465921101721/tm2124395d1_ex10-2.htm) |
| 4.18 | [Form of Lock-Up Agreement (incorporated by reference to Exhibit 10.3 to MPAC's current report on Form 8-K filed with the SEC on August 9, 2021)](http://www.sec.gov/Archives/edgar/data/1841993/000110465921101721/tm2124395d1_ex10-3.htm) |
| 4.19\* | [Form of Share Restriction Agreement](ea171395ex4-19_multimeta.htm) |
| 8.1\* | [List of Principal Subsidiaries and VIEs](ea171395ex8-1_multimeta.htm) |
| 15.1\* | [Letter from Marcum LLP](ea171395ex15-1_multimeta.htm) |
| 15.2\* | [Consent from Marcum Asia CPAs LLP](ea171395ex15-2_multimeta.htm) |

---

\* Filed herewith

**SIGNATURES**

The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this report on its behalf.

---

| | | |
|:---|:---|:---|
|  | **MULTIMETAVERSE HOLDINGS LIMITED** | **MULTIMETAVERSE HOLDINGS LIMITED** |
| January 10, 2023 | By: | /s/ Yiran Xu |
|  | Name: | Yiran Xu |
|  | Title: | Chief Executive Officer |

---

## Exhibit 2.1

**Exhibit 2.1**

SPECIMEN CLASS A ORDINARY SHARE CERTIFICATE

CERTIFICATE NUMBER SHARES _________

MULTIMETAVERSE HOLDINGS LIMITED

INCORPORATED UNDER THE LAWS OF THE BRITISH VIRGIN ISLANDS

CLASS A ORDINARY SHARE

SEE REVERSE FOR<br> CERTAIN DEFINITIONS

THIS CERTIFIES THAT CUSIP:

IS THE OWNER OF

FULLY PAID AND NON-ASSESSABLE CLASS A ORDINARY SHARES OF NO PAR VALUE

MULTIMETAVERSE HOLDINGS LIMITED

transferable on the books of the Company in person or by duly authorized<br> attorney upon surrender of this certificate properly endorsed. This certificate is not valid unless countersigned by the<br> Transfer Agent and registered by the Registrar. Witness the seal of<br> the Company and the facsimile signatures of its duly authorized officers.

Dated:

    <br> Director Chief Financial Officer

MULTIMETAVERSE HOLDINGS LIMITED

<br> CORPORATE<br> SEAL 2023<br> BRITISH VIRGIN ISLANDS

**MULTIMETAVERSE HOLDINGS LIMITED**

The Company will furnish without charge to each shareholder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class of share or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences and/or rights. This certificate and the Class A Ordinary Shares represented thereby are issued and shall be held subject to all the provisions of the Amended and Restated Memorandum and Articles of Association and all amendments thereto and resolutions of the Board of Directors providing for the issuance of Class A Ordinary Shares (copies of which may be obtained from the secretary of the Company), to all of which the holder of this certificate by acceptance hereof assents.

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:

TEN COM - as tenants in common <br> TEN ENT - as tenants by the entireties <br> JT TEN - as joint tenants with right of survivorship<br> and not as tenants in common

---

| | | | |
|:---|:---|:---|:---|
| UNIF GIFT MIN ACT - | | &nbsp;&nbsp;Custodian | |
|  | (Cust) |  | (Minor) |
|  | under Uniform Gifts to Minors | under Uniform Gifts to Minors | under Uniform Gifts to Minors |
|  | Act | | |
|  |  | (State) | (State) |

---

Additional Abbreviations may also be used though not in the above list.

For value received, ___________________________ hereby sell, assign and transfer unto

---

| |
|:---|
| &nbsp;&nbsp;PLEASE INSERT SOCIAL SECURITY OR<br> OTHER<br> IDENTIFYING NUMBER OF ASSIGNEE |
| (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) |

---

---

| | | |
|:---|:---|:---|
| | | shares |
| of the capital stock represented by the within Certificate, and do hereby irrevocably constitute and appoint | of the capital stock represented by the within Certificate, and do hereby irrevocably constitute and appoint |  |
|  |  | Attorney |
| to transfer the said share on the books of the within named Corporation will full power of substitution in the premises. | to transfer the said share on the books of the within named Corporation will full power of substitution in the premises. |  |
| Dated |  |  |
|  | NOTICE: The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever. |  |
| Signature(s) Guaranteed: | Signature(s) Guaranteed: |  |
| THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15). | THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15). |  |

---

The holder of this certificate shall be entitled to receive funds from the trust account only in the event of (i) the liquidation of the trust account upon a failure to consummate a business combination, as described in the prospectus covering the securities or (ii) if the holder seeks to convert his respective shares or sells them to the Company in a tender offer, in each case in connection with (1) the consummation of a business combination or (2) in connection with an amendment to the Company's Amended and Restated Memorandum and Articles of Association prior to the consummation of a business combination. In no other circumstances shall the holder have any right or interest of any kind in or to the trust account.

## Exhibit 2.2

**Exhibit 2.2**

SPECIMEN WARRANT CERTIFICATE

NUMBER [ ] WARRANTS

(THIS WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO 5:00 P.M.

NEW YORK CITY TIME, FIVE YEARS FROM THE CLOSING DATE OF THE COMPANY'S INITIAL

BUSINESS COMBINATION)

**MULTIMETAVERSE HOLDINGS LIMITED**

CUSIP G6360J 136

WARRANT

THIS WARRANT CERTIFIES THAT, for value received , or registered agents, is the registered holder of a Warrant or Warrants (the "Warrant"), expiring January 4, 2028, to purchase one fully paid and non-assessable Class A ordinary share (the "Warrant Shares"), no par value, of MultiMetaVerse Holdings Limited, a British Virgin Islands company (the "Company"), for each Warrant evidenced by this Warrant Certificate. This Warrant Certificate is subject to and shall be interpreted under the terms and conditions of the Warrant Agreements (as defined below).

The Warrant entitles the holder thereof to purchase from the Company, from time to time, in whole or in part, commencing on the later to occur of (i) 30 days after the completion of the Company's initial business combination or (ii) twelve (12) months following the effective date of the registration statement with respect to the Company's initial public offering, a number of Warrant Shares initially at the price of $11.50 per full share (the "Warrant Price"), upon surrender of this Warrant Certificate and payment of the Warrant Price at the office or agency of Continental Stock Transfer & Trust (the "Warrant Agent"), such payment to be made subject to the conditions set forth herein and in the Warrant Agreement, dated April 4, 2021, and the Supplemental Warrant Agreement dated January 4, 2023, between the Company and the Warrant Agent (collectively, the "Warrant Agreements"). In no event shall the registered holder(s) of this Warrant be entitled to receive a net-cash settlement in lieu of physical settlement in Warrant Shares of the Company. The Warrant Agreements provide that, upon the occurrence of certain events, the Warrant Price and the number of Warrant Shares purchasable hereunder, set forth on the face hereof, may be adjusted, subject to certain conditions. The term "Warrant Price" as used in this Warrant Certificate refers to the price per full Warrant Share at which Warrant Shares may be purchased at the time the Warrant is exercised. The Warrant Agreements provide that upon the occurrence of certain events the Warrant Price, the Redemption Trigger Price (as defined below), and the number of Warrant Shares purchasable hereunder, set forth on the face hereof, may, subject to certain conditions, be adjusted.

This Warrant will expire on the date first referenced above if it is not exercised prior to such date by the registered holder pursuant to the terms of the Warrant Agreements or if it is not redeemed by the Company prior to such date.

Upon any exercise of the Warrant for less than the total number of full Warrant Shares provided for herein, there shall be issued to the registered holder(s) hereof or its assignee(s) a new Warrant Certificate covering the number of Warrant Shares for which the Warrant has not been exercised.

Warrant Certificates, when surrendered at the office or agency of the Warrant Agent by the registered holder(s) hereof in person or by attorney duly authorized in writing, may be exchanged in the manner and subject to the limitations provided in the Warrant Agreements, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants.

Upon due presentment for registration of transfer of the Warrant Certificate at the office or agency of the Warrant Agent, a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreements, without charge except for any applicable tax or other governmental charge.

The Company and the Warrant Agent may deem and treat the registered holder(s) as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone) for the purpose of any exercise hereof, of any distribution to the registered holder(s), and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

This Warrant does not entitle the registered holder(s) to any of the rights of a shareholder of the Company.

After the Warrant becomes exercisable and prior to its expiration date, the Company reserves the right to call the Warrant at any time, with a notice of call in writing to the holder(s) of record of the Warrant, giving thirty (30) days' written notice of such call if the last reported sale price of the shares has been equal to or greater than $18.00 per share (the "Redemption Trigger Price") for any twenty (20) trading days within a thirty (30) trading day period ending on the third (3rd) trading day prior to the date on which notice of such call is given, provided that (i) a registration statement under the Securities Act of 1933, as amended (the "Act") with respect to the ordinary shares underlying the Warrants issuable upon exercise must be effective and a current prospectus must be available for use by the registered holders hereof or (ii) the Warrants may be exercised on cashless basis as set forth in the Warrant Agreements and such cashless exercise is exempt from registration under the Act. The call price is $0.01 per Warrant Share.

If the foregoing conditions are satisfied and the Company calls the Warrant for redemption, each holder will then be entitled to exercise his, her or its Warrant prior to the date scheduled for redemption; provided that the Company may require the Registered Holder who desires to exercise the Warrant, to elect cashless exercise as set forth in the Warrant Agreements, and such Registered Holder must exercise the Warrants on a cashless basis if the Company so requires. Any Warrant either not exercised or tendered back to the Company by the end of the date specified in the notice of call shall be canceled on the books of the Company and have no further value except for the $0.01 call price.

COUNTERSIGNED:

CONTINENTAL STOCK TRANSFER & TRUST

WARRANT AGENT

BY:   <br> AUTHORIZED OFFICER

DATED:   <br>(Signature)

CHIEF FINANCIAL OFFICER

(Seal)

(Signature)

SECRETARY

[REVERSE OF CERTIFICATE]

SUBSCRIPTION FORM

To Be Executed by the Registered Holder(s) in Order to Exercise Warrants

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive ordinary shares in accordance with the terms of this Warrant Certificate and pursuant to the method selected below. Capitalized terms used herein and not otherwise defined have the respective meanings set forth in the Warrant Certificate. PLEASE CHECK ONE METHOD OF PAYMENT:

---

| |
|:---|
| a "<u>Cash Exercise</u>" with respect to Warrant Shares; and/or |
| a "<u>Cashless Exercise</u>" with respect to Warrant Shares because on |
| the date of this exercise, there is no effective registration statement<br> registering the Warrant Shares, or the prospectus contained therein is not available for the resale of the Warrant Shares, in which event the Company shall deliver to the registered holder(s) ordinary shares pursuant to <u>Section 3.3.2</u> of the Warrant Agreement. |

---

The undersigned requests that a certificate for such shares be registered in the name(s) of:

---

| |
|:---|
| (PLEASE TYPE OR PRINT NAME(S) AND ADDRESS) |
| (SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER(S)) |

---

and be delivered to   <br> (PLEASE PRINT OR TYPE NAME(S) AND ADDRESS)

and, if such number of Warrants shall not be all the Warrants evidenced by this Warrant Certificate, that a new Warrant Certificate for the balance of such Warrants be registered in the name of, and delivered to, the registered holder(s) at the address(es) stated below:

Dated:

---

| |
|:---|
| (SIGNATURE(S)) |
| (ADDRESS(ES)) |
| (TAX IDENTIFICATION NUMBER(S)) |

---

ASSIGNMENT

To Be Executed by the Registered Holder in Order to Assign Warrants

For Value Received, hereby sell(s), assign(s), and transfer(s) unto

(PLEASE TYPE OR PRINT NAME(S) AND ADDRESS(ES))

(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER(S))

---

| | |
|:---|:---|
| and to be delivered to | |
|  | (PLEASE PRINT OR TYPE NAME(S) AND ADDRESS(ES)) |

---

(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER(S))

of the Warrants represented by this Warrant Certificate, and hereby irrevocably constitute and appoint Attorney to transfer this Warrant Certificate on the books of the Company, with full power of substitution in the premises.

Dated:

  <br> (SIGNATURE(S))

NOTICE: THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.

Signature(s) Guaranteed:

By

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).

## Exhibit 2.6

**Exhibit 2.6**

**SUPPLEMENTAL WARRANT AGREEMENT**

THIS SUPPLEMENTAL WARRANT AGREEMENT (this "**<u>Agreement</u>**"), is made and entered effective as of January 4, 2023, by and among Model Performance Acquisition Corp., a British Virgin Islands business company (the "**<u>Company</u>**"), Model Performance Mini Corp., a British Virgin Islands business company ("**<u>PubCo</u>**") and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (the "**<u>Warrant Agent</u>**").

WHEREAS, the Company entered into that certain Warrant Agreement, dated April 7, 2021 (the "**<u>Warrant Agreement</u>**"), with the Warrant Agent pursuant to which the Warrant Agent agreed to act on behalf of the Company in connection with the issuance, registration, transfer, exchange, redemption and exercise of up to 2,875,000 warrants (the "**<u>Public Warrants</u>**") underlying units issued in the Company's initial public offering (the "**<u>IPO</u>**"), and up to 146,250 warrants (the "**<u>Private Warrants</u>,**" together with the Public Warrants, the "**<u>Warrants</u>**") underlying units issued in a private placement consummated simultaneously with the IPO (the "**<u>Private Placement</u>**");

WHEREAS, the IPO and the Private Placement were consummated on April 12, 2021;

WHEREAS, the Company has entered into a merger agreement, dated as of August 6, 2021 (as amended on January 6, 2022, and as may be amended from time to time, the "**<u>Merger Agreement</u>**"), which provides for a Business Combination between the Company and MultiMetaVerse Inc., a Cayman Islands exempted company ("**<u>MMV</u>**");

WHEREAS, pursuant to the Merger Agreement, (i) the Company will merge with and into PubCo, with PubCo remaining as the surviving publicly traded entity; and (ii) Model Performance Mini Sub Corp., a Cayman Islands exempted company and wholly- owned subsidiary of PubCo ("**<u>Merger Sub</u>**"), will be merged with and into MMV resulting in MMV being a wholly-owned subsidiary of PubCo (the "**<u>Business Combination</u>**"); and as a result of the Business Combination, holders of ordinary shares of MMV and the Company will become holders of ordinary shares of PubCo (the "**<u>PubCo Ordinary Shares</u>**");

WHEREAS, upon consummation of the Business Combination, as provided in <u>Section 4.5</u> of the Warrant Agreement, the Warrants will no longer be exercisable for ordinary shares of the Company but instead will be exercisable (subject to the terms of the Warrant Agreement as amended hereby) for PubCo Ordinary Shares;

WHEREAS, in connection with the Business Combination, the Company desires to assign all of its right, title and interest in the Warrant Agreement to PubCo and PubCo wishes to accept such assignment;

WHEREAS, <u>Section 9.8</u> of the Warrant Agreement states, among other things, that the Warrant Agreement and any Warrant certificate may be amended by the parties by executing a supplemental warrant agreement, without the consent of any of the Warrant Holders, for the purpose of evidencing the succession of another corporation to the Company and the assumption by any such successor of the covenants of the Company contained in the Warrant Agreement and the Warrants;

WHEREAS, the Company has rights, duties, covenants and other obligations under the Warrant Agreement (the "**<u>Obligations</u>**"), which continue after the Business Combination, and PubCo has agreed to assume the Obligations in connection with the Business Combination;

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and PubCo agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Assumption of the Obligations</u>. As of the date hereof, PubCo hereby assumes all of the Obligations under the Warrant Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Amendments to the Warrant Agreement</u>. The Warrant Agreement is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) In the context of the Obligations to be assumed, any reference to "the Company" in the Warrant Agreement (including all Exhibits thereto) shall mean "Model Performance Mini Corp." and all references to "Ordinary Shares" (including all Exhibits thereto) shall mean "Ordinary Shares of Model Performance Mini Corp.;"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Section 2.4 "<u>Detachability of Public Warrants</u>" shall be deleted in its entirety as it is no longer in force and effect; except that the term "Representative" which was defined in Section 2.4 as "Maxim Group LLC, as representative of the underwriters," shall continue to be defined as such throughout the Warrant Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Section 5.1 "<u>Transfer of Public Warrants</u>" shall be deleted in its entirety as it is no longer in force and effect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Section 7.3 is hereby deleted and replaced in its entirety as follows:

"<u>Issuance of Ordinary Shares</u>. Model Performance Mini Corp. shall at all times reserve and ensure that the number of Ordinary Shares that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Warrant Agreement are available for issuance."; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) Section 9.2 is hereby amended in part to change the delivery of notices and a copy of notices to:

Model Performance Mini Corp.

c/o MultiMetaVerse, Inc.

Building D3, No. 718

Lingshi Road

Jingan District, Shanghai

PRC

Attn: Yiran Xu

Email: alex.xu@7doc.cn

with a copy (which shall not constitute notice) to:

Paul Hastings LLP

43/F, Jing An Kerry Center Tower II

1539 Nanjing West Road

Shanghai 200040, PRC

Attn: Jia Yan

Email: jiayan@paulhastings.com

and

Loeb & Loeb LLP

345 Park Avenue

New York, NY 10154

Attn: Giovanni Caruso

Email: <u>gcaruso@loeb.com</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>No Other Amendments</u>. Except for the amendments expressly set forth in this Agreement, the Warrant Agreement shall remain unchanged and in full force and effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Entire Agreement</u>. The Warrant Agreement (as amended by this Agreement), sets forth the entire agreement of the parties hereto with respect to the subject matter hereof and thereof, and there are no restrictions, promises, representations, warranties, covenants or undertakings with respect to the subject matter hereof or thereof, other than those expressly set forth in the Warrant Agreement (as amended by this Agreement). The Warrant Agreement (as amended by this Agreement) supersedes all prior and contemporaneous understandings and agreements related thereto (whether written or oral), all of which are merged herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company and PubCo agree to execute such reasonable further instruments or perform such reasonable acts which are or may become reasonably necessary to carry out the intent of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement shall be governed by and construed under the laws of the State of New York without regard to its conflict of laws principles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.

[The balance of this page is intentionally left blank.]

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

---

| | |
|:---|:---|
| MODEL PERFORMANCE ACQUISITION CORP. | MODEL PERFORMANCE ACQUISITION CORP. |
| By: | /s/ Serena Shie |
| Name: | Serena Shie |
| Title: | Chief Financial Officer |
| MODEL PERFORMANCE MINI CORP. | MODEL PERFORMANCE MINI CORP. |
| By: | /s/ Serena Shie |
| Name: | Serena shie |
| Title: | Authorised signatory |
| CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent | CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Warrant Agent |
| By: | /s/ Henry Farrell |
| Name: | Henry Farrell |
| Title: | Vice President |

---

## Exhibit 4.4

**Exhibit 4.4**

**MULTIMETAVERSE HOLDINGS LIMITED**

**2023 SHARE INCENTIVE PLAN**

**SECTION 1. PURPOSE AND EFFECTIVE DATE**

**(a) Purpose**. The MultiMetaVerse Holdings Limited 2023 Share Incentive Plan (the "Plan") is intended to promote the interests of the Company and its shareholders by (i) promoting the growth and success of MultiMetaVerse Holdings Limited (the "Company") by linking a significant portion of Participant compensation to the increase in the value of the Company's Shares, (ii) attracting and retaining non-employee directors, executive personnel and other key employees by offering performance related incentives to achieve a competitive incentive compensation program, (iii) rewarding innovation and outstanding performance as important contributing factors to the Company's growth and progress thereby aligning the interests of the executive officers, employees, Directors and Consultants with those of the Company's shareholders by reinforcing the relationship between Participant rewards and shareholder gains obtained through the achievement by Plan Participants of short-term objectives and long-term goals, and (iv) encouraging executive officers, employees, Directors and Consultants to obtain and maintain an equity interest in the Company.

**(b) Effective**. The Plan will become effective on and after the Effective Date. However, Awards may only be granted under the Plan if the Performance Target is met.

**SECTION 2. DEFINITIONS**

Capitalized terms used but not otherwise defined in the Plan shall have the following meanings:

*"Act"* shall mean the Securities Exchange Act of 1934, as amended.

*"Affiliate"* means any Person that, directly or through one or more intermediaries, is controlled by, controls, or is under common control with the Company.

*"Award"* means a grant of any type of award permitted under the Plan.

*"Board"* means the Board of Directors of the Company.

*"Closing Date"* means [●].

*"Committee"* means the Compensation Committee of the Board (or such other committee of the Board with the same or similar authority).

*"Consultant"* means a Person or entity rendering services to the Company or an Affiliate other than as an employee of any such entity or a Director.

*"Director"* means a member of the Board.

*"Employee"* means any officer or employee employed by any the Company and any Subsidiary thereof in a common-law employee-employer relationship.

*"Employer"* means the Company and any Subsidiary thereof.

*"Fair Market Value"* means the closing sales price (or average of the quoted closing bid and asked prices if there is no closing sales price reported), per Share on a particular date of the Stock. If the Shares are neither listed on a national securities exchange nor traded in an over-the-counter market, the price determined by the Committee, in its discretion, will be used.

*"Participant"* means an Employee, Director or Consultant selected by the Committee to receive an Award under the Plan.

*"Person"* has the meaning given in Section 3(a)(9) of the Act, as modified and used in Sections 13(d) and 14(d) thereof.

"*Performance Target*" means the average market capitalization of the Company exceeds $1 billion for any consecutive 20 trading days on or before the second anniversary of the Closing Date.

*"Service"* means the provision of services to the Company or its Affiliates in the capacity of (i) an Employee, (ii) a Director, or (iii) a Consultant.

*"Share"* means ordinary shares of the Company.

*"Subsidiary"* means any business entity in which the Company possesses directly or indirectly fifty percent (50%) or more of the total combined voting power, including entities controlled by the Company through VIE contractual arrangements.

**SECTION 3. POWERS OF THE COMMITTEE**

**(a) Eligibility.** Each Employee, Director or Consultant who, in the opinion of the Committee, has the capacity to contribute to the success of the Company is eligible to be a Participant in the Plan.

**(b) Power to Grant and Establish Terms of Awards.** The Committee shall have the discretionary authority, subject to the terms of the Plan, to determine which Employees, Directors or Consultants to whom Awards shall be granted, the type or types of Awards to be granted, and the terms and conditions of any and all Awards including, without limitation, the number of Shares subject to an Award, the time or times at which Awards shall be granted, and the terms and conditions of applicable Award Agreements. The Committee may establish different terms and conditions for different types of Awards, for different Participants receiving the same type of Award, and for the same Participant for each type of Award such Participant may receive, whether or not granted at the same or different times.

**(c) Administration.** The Plan shall be administered by the Committee. The Committee shall have full discretionary authority to administer the Plan, including but not limited to the authority to: (i) interpret the provisions of the Plan, (ii) prescribe, amend and rescind rules and regulations relating to the Plan, (iii) correct any defect, supply any omission, or reconcile any inconsistency in any Award or agreement covering an Award in the manner and to the extent it deems desirable to carry the Plan into effect, and (iv) make all other determinations necessary or advisable for the administration of the Plan. The Committee's decisions (including any failure to make decisions) shall be binding upon all persons, including the Company, shareholders, Employers, and each Employee, Director, Consultant or Participant, and shall be given deference in any proceeding with respect thereto.

**(d) Delegation to Other Committees or Officers.** The Committee may delegate to the Company's Chief Executive Officer and/or to such other officer(s) of the Company, the power and authority to make and/or administer Awards under the Plan with respect to individuals who are below the position of an executive officer of the Company, pursuant to such conditions and limitations as the Committee may establish and only the Committee or the Board may select, and grant Awards to, executive officers or exercise any other discretionary authority under the Plan in respect of Awards granted to such executive officers. Unless the Committee shall otherwise specify, any delegate shall have the authority and right to exercise (within the scope of such person's delegated authority) all of the same powers and discretion that would otherwise be available to the Committee pursuant to the terms hereof. The Committee may also appoint agents (who may be officers or employees of the Company) to assist in the administration of the Plan and may grant authority to such persons to execute agreements, including Award Agreements, or other documents on its behalf. All expenses incurred in the administration of the Plan, including, without limitation, for the engagement of any counsel, consultant or agent, shall be paid by the Company.

**(e) Indemnification**. The Company will indemnify and hold harmless each member of the Board and the Committee, and each officer or member of any other committee to whom a delegation under Section 3(b) has been made, as to any acts or omissions with respect to the Plan or any Award to the maximum extent that the law and the Company's By-Laws permit.

**SECTION 4. MAXIMUM AMOUNT AVAILABLE FOR AWARDS**

**(a) Number.** Subject in all cases to the provisions of this Section 4, the maximum number of Shares that are available for Awards shall be 10% of the then outstanding ordinary shares of the Company. Shares may be made available from Shares held in treasury or authorized but unissued shares of the Company not reserved for any other purpose.

**(b) Canceled, Terminated or Forfeited Awards, Etc.** Any Share subject to an Award which for any reason expires without having been exercised, is canceled or terminated or otherwise is settled without the issuance of any Share shall again be available for grant under the Plan.

**(c) Adjustments**. In the event of any dividend, share split, combination or exchange of Shares, amalgamation, arrangement or consolidation, spin-off, recapitalization or other distribution (other than normal cash dividends) of Company assets to its shareholders, or any other change affecting the shares of Shares or the share price of a Share, the Committee shall make such proportionate adjustments, if any, as the Committee in its discretion may deem appropriate to reflect such change with respect to (a) the aggregate number and type of shares that may be issued under the Plan; (b) the terms and conditions of any outstanding Awards (including, without limitation, any applicable performance targets or criteria with respect thereto); and (c) the grant or exercise price per share for any outstanding Awards under the Plan.

**SECTION 5. EFFECTIVE DATE, AMENDMENT, MODIFICATION AND TERMINATION OF THE PLAN OR AWARDS**

**(a) Effective Date.** This Plan shall become effective on the date of its adoption by the Board or a committee of the Board duly authorized by the Board (the "<u>Effective Date</u>").

**(b) Expiration Date.** The Plan will expire on, and no Award may be granted pursuant to the Plan after, the tenth anniversary of the Effective Date. Any Awards that are outstanding on the tenth anniversary of the Effective Date shall remain in force according to the terms of the Plan and the applicable award agreement.

**(c) Amendment, Modification, and Termination.** At any time and from time to time, the Board or the Committee may terminate, amend or modify the Plan; *provided*, *however*, that to the extent necessary to comply with applicable aaws, the Company shall obtain shareholder approval of any Plan amendment in such a manner and to such a degree as required, unless the Board decides to follow home country practice not to seek the shareholder approval for any amendment or modification of the Plan.

**SECTION 6. GENERAL PROVISIONS**

**(a) No Rights to Awards**. No Participant, Employee, or other person shall have any claim to be granted any Award pursuant to the Plan, and neither the Company nor the Committee is obligated to treat Participants, Employees, and other persons uniformly.

**(b) No Shareholders Rights**. No Award gives the Participant any of the rights of a Shareholder of the Company unless and until Shares are in fact issued to such person in connection with such Award.

**(c) Taxes.** No Shares shall be delivered under the Plan to any Participant until such Participant has made arrangements acceptable to the Committee for the satisfaction of any income and employment tax withholding obligations under applicable laws. The Company or any Subsidiary shall have the authority and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy all applicable taxes (including the Participant's payroll tax obligations) required or permitted by applicable laws to be withheld with respect to any taxable event concerning a Participant arising as a result of this Plan. The Committee may in its discretion and in satisfaction of the foregoing requirement allow a Participant to elect to have the Company withhold Shares otherwise issuable under an Award (or allow the return of Shares) having a Fair Market Value equal to the sums required to be withheld. Notwithstanding any other provision of the Plan, the number of Shares which may be withheld with respect to the issuance, vesting, exercise or payment of any Award (or which may be repurchased from the Participant of such Award after such Shares were acquired by the Participant from the Company) in order to satisfy any income and payroll tax liabilities applicable to the Participant with respect to the issuance, vesting, exercise or payment of the Award shall, unless specifically approved by the Committee, be limited to the number of Shares which have a Fair Market Value on the date of withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for the applicable income and payroll tax purposes that are applicable to such supplemental taxable income.

**(d) No Right to Employment or Services**. Nothing in the Plan or any Award Agreement shall interfere with or limit in any way the right of the Employer to terminate any Participant's employment or services at any time, nor confer upon any Participant any right to continue in the employment or services of any Employer.

**(e) Unfunded Status of Awards.** This Plan is unfunded and does not create, and should not be construed to create, a trust or separate fund with respect to the Plan's benefits. This Plan does not establish any fiduciary relationship between the Company and any Participant or other Person. To the extent any Person holds any rights by virtue of an Award granted under the Plan, such rights are no greater than the rights of the Company's general unsecured creditors.

(f) **Indemnification.** Each person who is or shall have been a member of the Committee and each delegate of such Committee shall be indemnified and held harmless by the Company against and from any loss, cost, liability or expense that may be imposed upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit or proceeding to which he or she may be made a party or in which he or she may be involved in by reason of any action taken or failure to act under the Plan and against and from any and all amounts paid by him or her in settlement thereof, with the Company's approval, or paid by him or her in satisfaction of any judgment in any such action, suit or proceeding against him or her, provided that the Company is given an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it personally. The foregoing right of indemnification shall not be exclusive and shall be independent of any other rights of indemnification to which such persons may be entitled under the Company's memorandum and articles of association, by contract, as a matter of law, or otherwise.

**(g) Relationship to other Benefits**. No payment pursuant to the Plan shall be taken into account in determining any benefits pursuant to any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary except to the extent otherwise expressly provided in writing in such other plan or an agreement thereunder.

**(h) Titles and Headings.** The titles and headings of the Sections in the Plan are for convenience of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control.

**(i) Fractional Shares.** No fractional Shares shall be issued and the Committee shall determine, in its discretion, whether cash shall be given in lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding up or down as appropriate.

**(j) Limitations Applicable to Section 16 Persons**. Notwithstanding any other provision of the Plan, the Plan, and any Award granted or awarded to any Participant who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by the applicable laws, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

**(k) Government and Other Regulations**. The obligation of the Company to make payment of awards in Shares or otherwise shall be subject to all Applicable Laws, and to such approvals by government agencies as may be required. The Company shall be under no obligation to register any of the Shares paid pursuant to the Plan under the Securities Act or any other similar law in any applicable jurisdiction. If the Shares paid pursuant to the Plan may in certain circumstances be exempt from registration pursuant to the Securities Act or other Applicable Laws, the Company may restrict the transfer of such Shares in such manner as it deems advisable to ensure the availability of any such exemption.

**(l) Governing Law**. The Plan and all Award Agreements shall be construed in accordance with and governed by the laws of British Virgin Islands.

**(j) Appendices**. The Committee may approve such supplements, amendments or appendices to the Plan as it may consider necessary or appropriate for purposes of compliance with Applicable Laws or otherwise and such supplements, amendments or appendices shall be considered a part of the Plan.

## Exhibit 4.19

**Exhibit 4.19**

**SHARE RESTRICTION AGREEMENT**

This Share Restriction Agreement (this "**Agreement**") is entered into as of [●], by and between Model Performance Mini Corp. (the "**Company**") and [●] (the "**Res** **tricted Shareholder**").

WHEREAS, the Company entered into that certain Merger Agreement, dated as of August 6, 2021 (the "**Original Agreement**"), by and among the Company, Model Performance Acquisition Corp., a British Virgin Islands company, Model Performance Mini Sub Corp., a Cayman Islands Exempted Company and wholly-owned subsidiary of the Company, and MultiMetaVerse Inc., a Cayman Islands Exempted Company, to effect the consummation of a business combination with MMV;

WHEREAS, the Original Agreement was amended by the First Amendment to Merger Agreement (the "**First Amendment**") dated as of January 6, 2022, and further amended by the Second Amendment to Merger Agreement dated as of September 29, 2022 (the "**Second Amendment**"; and the Original Agreement as amended by the First Amendment and the Second Amendment is referred to herein as, the "**Merger Agreement**");

WHEREAS, on and as of the date hereof the Restricted Shareholder is receiving [●] Class A Ordinary Shares of the Company in accordance with the Merger Agreement, including the Restricted Closing Payment Shares being issued to such Restricted Shareholder (i.e. [●] Class A Ordinary Shares of the Company) as defined in the Merger Agreement;

WHEREAS, as a condition to the distribution of the Restricted Closing Payment Shares to the Restricted Shareholder, the Company is requiring the Restricted Shareholder to execute and deliver this Agreement in order to impose certain restrictions with respect to the Restricted Closing Payment Shares.

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto hereby covenant and agree as follows:

1. <u>Definitions</u>. Capitalized terms used herein and not otherwise defined herein shall have the meaning
ascribed to them in the Merger Agreement.

2. <u>Designation of Restricted Shares</u>. All of the Restricted Closing Payment Shares (i.e. [●] Class A Ordinary Shares of the Company) being issued to and held by the Restricted Shareholder are hereby designated as "**Restricted Shares** ", subject to adjustments as hereinafter provided.

3. <u>Release Event</u>. The Restricted Shares shall vest and become transferable and non-forfeitable upon
the successful creation of a new gameplay coupled with a public announcement regarding release of the new gameplay, whether through the
introduction of a new mobile game or updates to an existing mobile game to revamp its gameplay and commercial appeal (the "**Release Event** "), with the determination of whether an event is deemed a Release Event to be determined by a majority vote of the independent
directors of the board of the Company (being a "Reincorporation Surviving Corporation" as defined in the Merger Agreement)
in their sole discretion.

4. <u>Forfeiture</u>. In the event that the Release Event fails to occur within twelve (12) months following
the Closing, then any and all Restricted Shares shall be forfeited automatically to the Company at no cost, without any further action
of, or notice to, the Restricted Shareholder.

5. <u>Transfer Restrictions</u>. The Restricted Shareholder shall not sell, assign, hypothecate, donate,
encumber or otherwise directly or indirectly dispose of any interest in the Restricted Shares prior to the Release Event. Any attempt
to transfer such Restricted Shares in violation of this Section 5 shall be null and void and shall be disregarded by the Company. The
Restricted Shareholder agrees not to circumvent or otherwise avoid the transfer restrictions or intent thereof set forth in this Agreement,
whether by holding the Restricted Shares indirectly through another entity or by causing or effecting, directly or indirectly, the transfer
or issuance of any Restricted Shares by any such entity, or otherwise. For clarity, the Restricted Shareholder shall remain subject to
any lock-up or market standoff commitment or obligation, as applicable, in respect of the Restricted Shares.

6. <u>Escrow of Restricted Shares</u>. For purposes of facilitating the enforcement of the provisions of
this Agreement, until the Restricted Shares have become fully vested as provided in Section 3, the Restricted Shares shall be issued in
book-entry only form and shall not be represented by a certificate. The restrictions set forth in this Agreement shall be reflected on
the stock transfer records maintained by or on behalf of the Company. By execution of this Agreement and effective until the Restricted
Shares have become fully vested as provided in Section 3, the Restricted Shareholder hereby irrevocably and exclusively (even as to such
Restricted Shareholder or its affiliates) constitute and appoint the independent directors of the Company, or any other Person designated
by a majority vote of the independent directors of the Company, attorneys-in-fact to transfer or otherwise dispose the Restricted Shares
on the stock transfer records of the Company with full power of substitution. The Restricted Shareholder agrees to take any and all other
actions (including without limitation executing, delivering, performing and filing such other agreements, instruments and documents) as
independent directors of the Company may deem necessary or appropriate to carry out and give effect to the provisions of this Agreement.
Notwithstanding anything to the contrary, the independent directors of the Company may, by a vote of majority, decide to issue any share
certificate representing the Restricted Shares and designate the registered agent or any other Person to act as the escrow agent and hold
such share certificate in escrow under the direction of the independent directors of the Company.

7. <u>Voting Rights; Dividend</u>. The Restricted Shareholder shall have voting rights with respect to all
the Restricted Shares regardless of whether such Restricted Shares have been vested. The Restricted Shareholder shall be entitled to all
ordinary or extraordinary dividends or dividend equivalents that may be declared and paid on the Class A Ordinary Shares with a record
date on or after the date of this Agreement in respect of all the Restricted Shares regardless of whether such Restricted Shares have
been vested; provided that (i) any and all of such dividends and dividend equivalents shall be held in escrow by the Company at the direction
of the independent directors of the Company and be subject to the same restrictions and conditions applicable to the Restricted Shares;
and (ii) in the event of the forfeiture of any or all of the Restricted Shares in accordance with this Agreement, all such dividends and
dividend equivalents held in escrow shall be concurrently and automatically forfeited to the Company at no cost.

8. <u>Additional Securities</u>. Any securities or cash received by the Restricted Shareholder as the result
of ownership of the Restricted Shares (the "**Additional Securities** "), including, but not by way of limitation, warrants,
options and securities received as a share dividend or share split, or as a result of a recapitalization or reorganization or other similar
change in the Company's capital structure, shall be retained in escrow in the same manner (to the extent that such Additional Securities
are received as a result of ownership of the Restricted Shares) and subject to the same conditions and restrictions as the Restricted
Shares as provided in this Agreement.

9. <u>Legends</u>. Any book-entry position representing an unvested Restricted Share will bear the following
legend until the Restricted Share becomes vested, at which time such legend shall, without the need for any action on the part of the
Restricted Shareholder, be removed:

**THESE SECURITIES ARE SUBJECT TO FORFEITURE IN FAVOR OF THE COMPANY AND MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF A SHARE RESTRICTION AGREEMENT BETWEEN THE COMPANY AND THE SHAREHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. SUCH TRANSFER RESTRICTIONS AND FORFEITURE ARE BINDING ON TRANSFEREES OF THESE SECURITIES.**

10. <u>Refusal to Transfer</u>. The Company shall not (i) transfer on its books any Restricted Shares that
have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) treat as owner of such Restricted
Shares, or to accord the right to vote or pay dividends to, any purchaser or other transferee to whom such Restricted Shares shall have
been so transferred.

11. <u>Incorporation by Reference</u>. Each of the provisions under Article XI (*Dispute Resolution*)
and Section 13.7 (*Governing Law*) of the Merger Agreement shall be incorporated into this Amendment by reference as if set out in
full herein, *mutatis mutandis*.

12. <u>Counterparts; Facsimile Signatures</u>. This Agreement may be executed in counterparts, each of which
shall constitute an original, but all of which shall constitute one agreement. This Agreement shall become effective upon delivery to
each party of an executed counterpart or the earlier delivery to each party of original, photocopied, or electronically transmitted signature
pages that together (but need not individually) bear the signatures of all other parties.

*[The remainder of this page intentionally left blank; signature pages to follow]*

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

---

| | |
|:---|:---|
| COMPANY: | COMPANY: |
| **MODEL PERFORMANCE MINI CORP.** | **MODEL PERFORMANCE MINI CORP.** |
| By: |  |
|  | Name: |
|  | Title: |

---

*[Signature Page to Share Restriction Agreement]*

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.

By:

*[Signature Page to Share Restriction Agreement]*

## Exhibit 8.1

**Exhibit 8.1**

List of Principal Subsidiaries and VIEs

---

| | |
|:---|:---|
| **Significant Subsidiaries** | **Place of Incorporation** |
| MultiMetaVerse Inc. | Cayman Islands |
| MultiMetaVerse HK Limited | Hong Kong |
| Shanghai Mi Ting Culture Creativity Co., Ltd. | PRC |
| Beijing Mi Ting Technology Co., Ltd. | PRC |
| Shanghai Ling Xu Technology Co., Ltd. | PRC |

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| | |
|:---|:---|
| **VIES** | **Place of Incorporation** |
| Shanghai Jupiter Creative Design Co., Ltd. | PRC |
| Shanghai Cai Huan Network Technology Co., Ltd. | PRC |
| Shanghai Hui Zhi Ren Culture & Creativity Co., Ltd. | PRC |
| Shanghai Mobius Information Technology Co., Ltd. | PRC |

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## Exhibit 15.1

**Exhibit 15.1**

January 10, 2023

Securities and Exchange Commission

100 F Street, N.E.

Washington, DC 20549

Commissioners:

We have read the statements made by MultiMetaVerse Holdings Limited under Item 16F of its Form 20-F dated January 10, 2023. We agree with the statements concerning our Firm in such Form 20-F; we are not in a position to agree or disagree with other statements of MultiMetaVerse Holdings Limited contained therein.

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| |
|:---|
| Very truly yours, |
| /s/ Marcum llp |
| Marcum llp |

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## Exhibit 15.2

**Exhibit 15.2**

![](ex15-2_001.jpg)

<u>Independent Registered Public Accounting Firm's Consent</u>

We consent to the incorporation by reference in this Shell Company Report on Form 20-F of MultiMetaVerse Holdings Limited of our report dated May 16, 2022 relating to the financial statements of MultiMetaVerse Inc., which appears in the Registration Statement on Form F-4 (File No. 333-267125).

/s/ Marcum Asia CPAs LLP

Marcum Asia CPAs LLP

New York, NY

January 10, 2023

NEW YORK OFFICE ● 7 Penn Plaza ● Suite 830 ● New York, New York ● 10001

Phone 646.442.4845 ● Fax 646.349.5200 ● www.marcumasia.com