NetworkNewsWire
Editorial Coverage: The astounding surge in the price of
cryptocurrencies in 2017, most notably bitcoin’s rise from around
$1,000 at the start of the year to over $19,000 currently, has been
powered by the innovative distributed ledger technology known as
the blockchain. The blockchain supports cryptocurrencies and other
applications where a secure, transparent record of transactions is
required. It enables these transactions by using distributed
computer networks to record and store transaction data, eliminating
the need for third-party validation. This revolutionary technology
has enabled the ever-widening adoption of cryptocurrencies such as
bitcoin, Ethereum and Litecoin, while leading to big gains in the
stocks of companies which support or develop blockchain technology.
Among the companies which stand to benefit from the increasing
acceptance of the blockchain and cryptocurrencies are
Victory Square Technologies, Inc. (CSE:VST) (OTC:VSQTF)
(FWB:6F6) (VSQTF
Profile), Riot Blockchain,
Inc. (NASDAQ: RIOT), Hive Blockchain Technologies
LTD. (TSX:HIVE), MGT Capital Investments, Inc. (OTCQB:
MGTI) and Glance Tech (CSE: GET).
Victory Square
Technologies, Inc. (CSE:VST) (OTC: VSQTF) (FWB:6F6) creates,
funds and supports entrepreneurs with potentially disruptive
technologies in the fields of blockchain technology, virtual
reality, artificial intelligence, personalized health, gaming and
film. Throughout its history, the company has demonstrated a knack
for incubating successful innovators.
Victory Square was ahead of the crowd in realizing the
blockchain represented a breakthrough investment opportunity,
enabling the company to engage in multiple early partnerships and
investments in the space. Victory Square scored a big win in the
sector by investing three years ago in BTL Group (TSXV: BTL) (OTC:
BTLLF), the first publicly traded blockchain technology
company.
With BTL’s market capitalization now exceeding $200 million,
Victory Square’s investment in the pioneering blockchain startup
has paid off in a big way. From under $2 at the start of 2017,
BTL’s U.S-traded shares have more than quintupled this year,
surging to a new 52-week high of $12.76 December 19. BTL Group
offers blockchain solutions for multiple industries, focusing
particularly on the finance, energy, and gaming sectors. The
company’s best-known product is Interbit, a blockchain platform
designed to support the speedy development of business applications
that significantly improve efficiency. A number of the largest
institutions in the world currently use Interbit to investigate
opportunities with private blockchains.
BTL co-founder Guy Halford-Thompson recently joined Victory
Square’s advisory board where he will assist the company in growing
and scaling its current portfolio of companies and play a vital
role in its new partnership with Blockchain Investment
Consortium.
“Victory Square played a key part helping BTL scale in its early
days, and I’m extremely excited to join the team as an advisor. The
leadership group at Victory Square has consistently shown an
ability to identify large market opportunities, as well as the
right teams to capitalize on them. They give them the funding,
resources and relationships required to accelerate their growth and
allow them to scale internationally,” Halford-Thompson stated in
the press release (http://nnw.fm/MWFv6).
Victory Square provides its portfolio companies with access to
education, a global mentorship network, and the expertise of its
experienced management team, which possesses more than 100 years of
successful entrepreneurial experience. Shafin Diamond Tejani, the
company’s CEO, has launched more than 40 start-ups in 21 countries
over the past two decades. He has been named both EY Technology
Entrepreneur of the Year and Canadian Angel Investor of the
Year.
Victory Square combines the keen eye of its executives for
spotting entrepreneurial talent with its ability to offer those
entrepreneurs access to its retinue of services designed to enable
them to accelerate the growth of their companies. In addition to
the services already mentioned, this includes distribution partners
to help them move from conceptualizing products to marketing them.
The company provides its portfolio firms with access to its
impressive global network of over 80 business accelerators, with 20
accelerator partnerships in developing tech hubs.
The company’s wholly owned subsidiary, FansUnite Media, Inc., is
developing a new social sports betting platform. FansUnite Media is
a social sports data platform that offers its members data that
helps them collaborate in trying to pick sporting event winners
using a free virtual currency sponsored by the company. Integrating
blockchain technology into FansUnite’s platform has to the
potential to spur blockchain initiatives developed by associated
Victory Square divisions. Regarding its blockchain efforts, Darius
Eghdami, co-founder and CEO of FansUnite, said, “Blockchain
technology and the inherent security it provides will enable us to
push every envelope we can to build the most dynamic and responsive
social sports betting platform.”
The Victory Square Health Inc. division of Victory Square serves
as a venture division for the parent company, developing solutions
focused on personalized health technologies. Victory Square has
also invested in V2 Games, which develops and publishes
high-quality mobile games. V2 Games is best known for successfully
launching PAC-MAN Bounce and Beast Brawlers, two popular releases
which have garnered millions of downloads. In addition, Victory
Square has acquired 40 percent of United Film Fund II, LLC, which
plans to produce three major motion pictures in 2017 and 2018.
In a recent press release, Victory Square announced its
admission to the Blockchain Investors Consortium (BIC), a
market-leading organization dedicated to pioneering professional
investment activities into digital assets worldwide. The group
totals in excess of $2 billion of digital assets across its
members, which pool their expertise to perform due diligence with
the objective of identifying opportunities in innovative
blockchain-oriented companies.
“By joining this elite investment group Victory Square gains
access to promising early-stage blockchain companies, bolstering
Victory Square’s position as a pioneering investor in Blockchain
companies in Canada and globally,” Victory Square CEO Shafin
Diamond Tejani stated in the news release.
On December 11, Victory Square introduced a portfolio company VS
Blockchain Assembly Inc., focused on providing financial, technical
and management services to assist in the development of early-stage
blockchain technology companies and to help existing technology
companies integrate blockchain integration to spur growth.
“Blockchain Assembly will act as a services firm providing
guidance on technology architecture and development, and will
facilitate banking, legal and commercialization services,” Tejani
said. “Further, Blockchain Assembly assists these companies with
their fund-raising objectives, whether they pursue capital through
token generation events, private funding, or raising money through
the public markets. We are using our expertise at company building
to identify, incubate, advise and invest in the best blockchain
entrepreneurs, helping build the tech titans of the next
century."
The tremendous demand from investors for the shares of companies
involved in the cryptocurrency revolution can be seen in the rapid
ascent of the price of the stock of Riot Blockchain
(NASDAQ: RIOT). After changing its name from Bioptix
Pharma and reorienting its focus from biopharmaceuticals to the
blockchain, RIOT stock has soared from under $7 early in November
to a high above $46 in mid-December.
The company’s goal is to brand itself as a leading blockchain
authority and offer investment exposure to the blockchain
environment. Riot has announced a strategic investment in Verady,
LLC, which provides accounting standards and auditing services to
the cryptocurrency market. Riot also owns a stake in Coinsquare,
the Canadian digital currency exchange, as well as a majority
ownership position in TessPay, which serves as a blockchain-based
payment resource for wholesale telecom carriers. Cresval Capital
Corp. recently signed a merger agreement with TessPay which, when
completed, would make TessPay Riot’s first investment to be spun
off into an independent public company.
Another segment of the cryptocurrency space which has attracted
intense interest from investors is cryptocurrency mining.
HIVE Blockchain Technologies (OTCPK: PRELF, TSX.V:
HIVE) is an early mover in the sector which has amply
rewarded investors in its shares. Its stock traded on the OTCPK
exchange has exploded from $0.07 at the start of the year to over
$3 at one point this year, and $2.68 as of December 15.
Cryptocurrency miners operate by verifying transactions using
blockchain technology, and are commonly rewarded with digital coins
for their services. To build the next generation of infrastructure
for blockchain transactions, HIVE has entered into a strategic
partnership with Genesis Mining LTD. HIVE has advanced digital
currency mining operations in Iceland that work 24/7 producing
digital currency. Low energy costs at the location enable reduced
working capital requirements giving the company the flexibility to
sell coins to optimize profits when it feels the time is right.
MGT Capital Investments (OTCQB: MGTI) is a U.S.
based bitcoin miner that has seen its shares skyrocket recently,
rising from under $1 in April of this year to $4.20 as of December
15. The company plans to expand, and is working on the development
of a portfolio of cyber security applications with the assistance
of security software luminary John McAfee. The goal is to create
advanced protection technologies for corporate networks and devices
for personal use. MGT Capital has reported that it plans to
purchase a further 500 S9 Antminer rigs from Bitmain Technologies,
with delivery to be completed early in 2018. Once the new
cryptocurrency rigs have been added to the company’s existing rigs,
MGT Capital will have over 5,000 Bitmain S9s mining bitcoins,
generating millions of dollars of monthly revenue.
Glance Technologies (CSE: GET:CC) is another
firm positioning itself to benefit from the adoption of
cryptocurrencies. The company operates Glance Pay, which is a
payment system designed to allow smartphone users to choose where
they want to eat, order goods and services, send payments, access
receipts, and earn rewards and interact with merchants. The company
is focused on building an extensive network of merchants and
consumers who can use its targeted in-app marketing, digital
coupons, and other services. Glance Pay is currently working on a
rewards-based cryptocurrency it plans to integrate into its
platform. The Glance Pay mobile payment app functions as a secure,
streamlined method of paying restaurant bills. Glance Technologies
announced in December that it had completed its purchase of the
Blockimpact cryptocurrency and blockchain solution from Ztudium
Inc. The company intends to integrate Blockimpact into the Glance
Pay mobile payment platform.
With the cryptocurrency-led blockchain revolution still in the
early innings, the potential for forward-thinking companies to
disrupt existing industries and processes has captured the
attention of investors around the world. The companies named in
this article have all positioned themselves to play a part in the
explosion of innovation that has been unleashed by the rise of
cryptocurrencies and the blockchain.
For more information on Victory Square, visit Victory Square
Technologies, Inc. (CSE:VST) (OTC: VSQTF) (FWB:6F6)
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