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Intangible assets, net (Tables)
12 Months Ended
Dec. 31, 2021
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Schedule of Intangible assets
               
    December 31, 2021   December 31,
2020
         
Licensed software   $ 2,899,801     $ 2,822,063  
Capitalized development costs     6,079,463       3,932,617  
Platform system     44,880       43,831  
Customer relationships     172,614        
Land use rights*           435,315  
Less: accumulated amortization     (3,095,844 )     (1,986,074 )
Less: impairment for capitalized software     (1,322,433      
Intangible assets, net   $ 4,778,481     $ 5,247,752  

 

* On June 3, 2015, Infobird Guiyang signed a cloud computing development agreement with the local Guiyang government to promote development of the local cloud computing industry. See construction in progress in Note 7. The Company obtained land use rights in Guiyang, China for 9,760.8 square meters of land for approximately $4.7 million (RMB 32,532,746) through public bidding. The land is for building of technology related infrastructure only. In return, the Guiyang government will subsidize the cost of land through a form of cash grant in the amount of approximately $4.5 million (RMB 31,068,626). The Company received such grant in 2015. The grant was given to promote the local cloud computing industry, there are no services to perform on the part of the Company and the grant was given without restriction. The only condition is that the land use right acquired was to be used for the cloud computing industry only. The Company recorded the grant as a reduction of the related land use rights. For the year ended December 31, 2021, the Company recorded impairment loss of $0.4 million of land use rights as a result of project delay, see Note 7 for details.

Schedule of Intangible Assets Future Amortization Expense
      
Twelve months ending December 31,  Estimated
amortization expense
    
2022   $1,168,208 
2023    

1,135,490

 
2024    1,112,813 
2025    976,629 
2026    385,341 
Thereafter     
Total   $4,778,481