Proactive Investors - Run By Investors For Investors

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

Over the past year, the market capitalization for cryptocurrencies has more than doubled to US$286 bill from $125 billion
Bitcoin with other silver coins
For Metaverse, the crypto craze has delivered similarly strong performances

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.

The company's shares were flat at C$0.02 on the CSE and up 1.7% to US$0.02 on OTC Markets. 

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

View full FORK profile View Profile

Metaverse Capital Corp Timeline

Related Articles

immotion vr racing game
February 06 2019
The out-of-home VR hardware and content maker turned over more than £1mln in the second half of 2018 with ‘only’ 150 or so headsets in operation, but it wants that figure to climb to over 1,000 by the end of this year
Digital Marketing
June 10 2019
"The group has had a good start to the year," chairman David Morrison said.
plasma torch
May 03 2019
PyroGenesis harnesses the unique properties of thermal plasma to melt and transform metal, carry out high temperature chemical reactions and convert waste into energy
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use