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...

Recent related videos from verified sources

June Jobs Data Was All Over the Place -- Former Fed Member Explains [Video]June Jobs Data Was All Over the Place -- Former Fed Member Explains

The Bureau of Labor Statistics may very well be simply off the market. A little bit. I'll explain, in a moment. But first, here are the facts. The number of net added jobs in the U.S. in June,..

Credit: The Street     Duration: 01:07Published

Why Facebook's Libra Is Good for Cryptocurrencies [Video]Why Facebook's Libra Is Good for Cryptocurrencies

Don't start comparing Bitcoin to Libra just yet. On Tuesday, real Money Stock of the Day Facebook FB released the whitepaper for its cryptocurrency push. However, Real Money reporter Kevin..

Credit: The Street     Duration: 01:23Published

Three Stocks Jim Cramer's Watching After Trump's Tweets [Video]Three Stocks Jim Cramer's Watching After Trump's Tweets

It's not all about the Fed or Facebook's new cryptocurrency ... Well at least for Jim Cramer it isn't. Jim Cramer zeros in on what else he is watching in markets today. "I'm watching a lot of stocks..

Credit: The Street     Duration: 00:40Published

Jim Cramer: Why Facebook's Libra Cryptocurrency Is 'Anti-Facebook' [Video]Jim Cramer: Why Facebook's Libra Cryptocurrency Is "Anti-Facebook"

Real Money Stock of the Day Facebook released the white paper for its Libra cryptocurrency. Although, Jim Cramer has some beef with using the term "cryptocurrency" to describe Libra. But anyway.....

Credit: The Street     Duration: 02:12Published

You Might Like

Other recent news in Business

US TREASURY Secretary Mnuchin warned that Facebook's Libra could be a tool for terrorists, traffickers, and drug smugglersAMAZON's Prime Day Marked With Competing Sales And High Profile Walkout
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.