United States  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Metaverse Capital offers strong 2Q update in wake of surging cryptocurrency markets

Proactive Investors Tuesday, 18 June 2019
Metaverse Capital Corp (CSE:FORK) (OTCMKTS:GBCHF) is riding on the wings of a surging cryptocurrency sector, issuing an update to shareholders Tuesday morning in light of market conditions. Over the past year, the market capitalization for cryptocurrencies has more than doubled to US$286 bill from $125 billion. Bitcoin, which crossed the $9,000 threshold over the weekend, is trading nearly 2.5 times higher year over year, and Ethereum has nearly doubled over the same span. Even Facebook (NASDAQ:FB) is getting in on the game with the annoucement of its Libra cryptocurrency coming in 2020.  For Metaverse, the crypto craze has delivered similarly strong performances. The company facilitated the crowdsale of AMR, the digital asset of Ammbr’s decentralized internet network. FORK managed to sell 80% of the total allocation during the crowdsale period, and exchanged its own AMR tokens for a 25% stake in the company’s equity. READ: New cannabis-focused social network launches on Metaverse's Nuvo blockchain platform The Vancouver-based company oversaw the initial exchange offering for the NUVO token, the crypto belonging to its Nuvo blockchain network, and is facilitating a similar IEO for MVU, a crypto for sports betting site meVu.bet. During the 2018 FIFA World Cup, meVU had more than 89,000 new signups. A blockchain authority The blockchain bonanza has led lots of companies to bring in Metaverse for advice. In May, the company was asked to advise on a $50 million crypto offering for Spend Group, which produces Visa-branded payment cards. Similarly, FORK was approached by Hyperion, a security token exchange, to advise on an equity offering from Ocean Falls Blockchain Corp. FORK was also brought in to create a blockchain payment and administration platform for Bravio Technologies Limited using the Lightning network, a means by which Bitcoin users can quickly conduct unlimited transactions between one another. "We are pleased to have such an extensive and diverse portfolio of assets and projects that use or relate to cryptocurrency,” CEO Shidan Gouran said. “This macro-level growth bodes very well for us and our shareholders, especially with many of our projects being built for newly-strengthened areas of growth such as sports betting. We look forward to a productive 2019 for both us and our partners, as crypto and blockchain begin to play a greater role in mainstream commerce." Contact Andrew Kessel at [email protected] Follow him on Twitter @andrew_kessel
Credit: The Street - Published < > Embed
News video: How Facebook's Cryptocurrency Will Help Consumers

How Facebook's Cryptocurrency Will Help Consumers 01:27

Curious about Real Money Stock of the Day Facebook's new push into crypto? Jim Cramer broke down what he expects from Facebook's white paper on its cryptocurrency, which is expected to be released Tuesday. "It's not really a crypto. It is not a source of value, which I was hoping it would be, but...

You Might Like

Recent related videos from verified sources

TJX Is Down on Guidance, But it Here's Why it Could Shine For the Holidays [Video]TJX Is Down on Guidance, But it Here's Why it Could Shine For the Holidays

Don't be fooled by the negative market sentiment on TJX . At least that's what a few analysts are saying, with one of them saying TJX is actually set up well for the holidays, contrary to what..

Credit: The Street     Duration: 01:22Published

China's Secret Weapon Against USD Is a Gold-Backed Crypto Currency: Max Keiser [Video]China's Secret Weapon Against USD Is a Gold-Backed Crypto Currency: Max Keiser

China's big move for the 21st century is to pull a "trap door" on the U.S. by launching a gold-backed crypto currency that will devalue the U.S. dollar to "zero," this according to Max Keiser, host of..

Credit: The Street     Duration: 08:21Published

Recent related news from verified sources

NetCents Technology inks its milestone 50th partnership agreement for its platform

NetCents Technology Inc (CSE:NC) (OTCMKTS:NTTCF) said Wednesday that it had signed-up its 50th partnership agreement with Agape Global Services Inc, which...
Proactive Investors

Helix TCS touts revenue bump, high software margins in 3Q results

Helix TCS Inc (OTCMKTS:HLIX) reported third-quarter earnings after the bell Thursday featuring year-over-year revenue growth and acceleration of its BioTrack...
Proactive Investors

Tweets about this

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.