NetworkNewsWire
Editorial Coverage: The cryptocurrency revolution has redefined
the concept of money and facilitated the adoption of the
distributed ledger system known as the blockchain that makes
digital money feasible. At the same time, it has presented
investors in the stocks of companies linked to the blockchain
revolution with the opportunity to reap substantial profits. With
the market for blockchain technology projected to experience
blistering growth, from $210 million in 2016 to as much as $2.3
billion by 2021, investors are identifying tremendous potential for
both established and emerging companies like Victory Square
Technologies, Inc. (CSE:VST) (OTC:VSQTF) (FWB:6F6)
(VSQTF
Profile), Overstock (NASDAQ: OSTK), HIVE Blockchain
Technologies (OTC: PRELF) (TSX.V: HIVE), Accenture (NYSE:
ACN) and NVIDIA (NASDAQ: NVDA).
The growing popularity of cryptocurrencies and the blockchain,
partly spurred by bitcoin’s astounding rise from around $1,000 at
the start of the year to above $16,000 currently, has caused
related stocks to soar, with some doubling, tripling, and even
quadrupling or more as investors rush to capitalize on their
potential.
Victory Square
Technologies, Inc. (CSE:VST) (OTC:VSQTF) (FWB:6F6) recognized
early the possibilities of the blockchain for changing transaction
tracking by using a distributed network of computers to eliminate
the need for third-party auditors. The company, which operates as a
venture builder and technology incubator creating, funding and
empowering entrepreneurs in a variety of emerging fields, made its
first blockchain-related investment approximately three years ago
by providing funding and business guidance to the BTL Group (TSXV:
BTL) (OTC: BTLLF), the first publicly traded blockchain
company.
BTL has since developed into a TSX-listed company with a market
capitalization in excess of $250 million that provides blockchain
solutions to multiple industries with an emphasis on the finance,
energy and gaming sectors. The product BTL is best known for,
Interbit, is a blockchain platform that makes it possible to
rapidly develop business applications designed to boost efficiency.
Today some of the largest institutions in the world utilize the
Interbit platform to explore the potential of private
blockchains.
A look at Victory Square’s overarching business model shows that
the company invests in game-changing entrepreneurs and offers them
access to a global mentor network along with distribution partners
and other resources to help them accelerate the growth of their
business. Victory Square offers its portfolio companies access to
more than 80 business accelerators globally, and has a network of
over 20 accelerator partnerships located in developing tech hubs.
In addition to its investments in blockchain-based companies,
Victory Square has investments in virtual reality, artificial
intelligence, personalized health, gaming and film. The company’s
business model enables it to benefit from monetization
opportunities when its portfolio companies are acquired.
Victory Square is led by a seasoned management team with more
than 100 years of combined award-winning entrepreneurial
experience. The company’s CEO, Shafin Diamond Tejani, is a
visionary entrepreneur and business builder with two decades of
experience growing companies. In his career, he has successfully
launched over 40 start-ups in 21 countries. He has been named EY
Technology Entrepreneur of the Year, Canadian Angel Investor of the
Year, and won the Startup Canada Award for Entrepreneur
Support.
The company’s wholly owned subsidiary, FansUnite Media, Inc. is
developing a new social sports betting program (http://nnw.fm/e9QtX). The division serves as a social
sports data platform providing its members with relevant data to
assist them in trying to pick sporting event winners using a free
virtual currency. Integrating blockchain technology into
FansUnite’s data platform has the potential to spur blockchain
initiatives developed by associated Victory Square divisions.
The platform can be accessed by members anywhere in the world on
any device, for any sport. Users of the platform can place wagers
using FAN Tokens that can be purchased with the cryptocurrency
Ethereum or earned via participation in various networking
activities. Regarding the platform, Darius Eghdami, co-founder and
CEO, 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.”
Victory Square was recently admitted to the Blockchain Investors
Consortium (BIC), a market-leading organization dedicated to
pioneering professional investment activities for digital assets
worldwide. The group has more than $2 billion of digital assets
altogether among its members, who pool their expertise to perform
collaborative due diligence aimed at identifying investment
opportunities in promising blockchain-enabled enterprises.
Investments made by BIC members include Coinbase, Tether,
Ethereum’s initial crowd funding, and a number of early BTC
investors.
“As an early proponent of Blockchain entrepreneurs and
companies, the Victory Square team is excited to participate in
this exclusive group of successful crypto investors,” CEO Tejani
stated in the press release (http://nnw.fm/8VgDy).
By joining this elite investment group Victory Square gains
access to promising early-stage blockchain companies, bolstering
its position as a pioneering investor in blockchain companies in
Canada and globally.
On Dec. 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.
"Recognizing that technology companies are prioritizing the
integration of blockchain into their core technology, and utilizing
token generation events (TGE) or initial coin offerings (ICO) as
new ways to raise capital and acquire customers and early adopters,
Blockchain Assembly has been built to service this market
opportunity,” Tejani said in the press release (http://nnw.fm/cuw6D). He added that the division will
also help the companies it assists with their fund-raising
objectives. “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."
Overstock (NASDAQ: OSTK) is another early
adopter of blockchain-related applications. The e-commerce
company’s subsidiary Medici Ventures serves as the umbrella
organization for its blockchain businesses, which include tZERO,
which aims to put blockchain technology to work in the financial
markets. Overstock plans to launch an ICO (initial coin offering)
on Dec. 18, which has helped drive the run-up in its share price.
Overstock has played a part in the burgeoning trend of using
cryptocurrencies for transactions by accepting bitcoin as a means
of acquiring products it sells.
HIVE Blockchain Technologies (OTCPK: PRELF) (TSX.V:
HIVE) focuses on cryptocurrency mining. Miners verify
transactions using the blockchain, and are rewarded for their
services by coins. When miners have completed verifying a
transaction, it is added to the chain of transactions in the form
of a block, hence the name “blockchain.” HIVE has entered into a
strategic partnership with Genesis Mining LTD. for the purpose of
creating the next generation of blockchain infrastructure. HIVE’s
advanced digital currency mining operations in Iceland work to
produce digital currency 24/7, with its low working capital
requirements providing it with the flexibility to strategically
sell coins to maximize its profit. The company has been rewarded
for capitalizing on the bitcoin trend early – its stock on the
OTCPK exchange has exploded from $0.07 at the start of the year to
over $3 at one point this year, and still at $2.54 as of Dec. 8,
demonstrating the potential of the cryptocurrency trend to
handsomely reward investors.
Accenture (NYSE: ACN) is a less obvious play on
the rise of the blockchain that is nevertheless positioned to
benefit from the growth of the sector. The company is one of the
largest global professional services companies, offering a variety
of strategic, consulting, digital, and technological solutions. To
stay on top of emerging technologies, Accenture has engaged in a
number of blockchain initiatives, including overseeing a test for
the Monetary Authority of Singapore and the Association of Banks in
Singapore of settlement functionalities for interbank payments
using a decentralized blockchain-based ledger system. The report
demonstrated that designs based on the blockchain can be effective
in preserving privacy when conducting such transactions. In June of
this year Accenture rolled out a prototype blockchain biometric
identity solution developed in partnership with Microsoft for the
ID2020 Alliance, which is a public-private partnership that strives
to improve lives through digital identity. The company’s blockchain
efforts have not gone unnoticed by the market, where the company’s
stock has leaped to a 52-week high above $150 a share.
Another sector that stands to benefit from this trend is the
market for graphics cards, given the substantial computing
resources needed to mine cryptocurrencies. On a broader level,
companies that either supply graphics chips for use with blockchain
applications or improve its efficiency in some way are positioned
to benefit from the intense investor interest in blockchain-related
investment opportunities.
NVIDIA (NASDAQ: NVDA) has been on a roll for
the past couple years, driven by the growth of the gaming,
datacenter, automotive and artificial intelligence applications.
After seeming to hit a plateau for a time, the company’s stock has
been on a tear again recently, likely driven by the realization
that the graphics processors and chips the company makes are
essential to the cryptocurrency mining process. Cryptocurrency
miners need advanced hardware in order to efficiently utilize
parallel processing, and the graphics processing units built by
NVIDIA are seen as among the best available when it comes to mining
bitcoin. While cryptocurrency mining revenues are currently only a
small part of the company’s revenues, that hasn’t stopped NVIDIA
stock from continuing its ascent in recent months, moving from just
below $150 at the end of June to over $190 currently.
With the advent of the blockchain era, investors have been
snapping up the shares of companies that offer investment
opportunities related to this innovative technology. The
blockchain’s ability to disrupt existing practices and industries
offers the potential for early adopters of the technology to gain
significant market share. The increased computing power demanded by
cryptocurrency mining stands to benefit firms that can help meet
this demand, whether by making chips to facilitate the trend,
helping design and optimize blockchain networks, using high power
computing systems to mine cryptocurrencies, or by performing any
other tasks that enhance the ability of the blockchain to work its
magic. All of the named companies have positioned themselves to
benefit from the growth of the blockchain going forward, making
them worth a look by investors interested in capitalizing on
opportunities in this rapidly growing sector.
For more information on Victory Square, visit Victory Square
Technologies, Inc. (CSE:VST) (OTC:VSQTF) (FWB:6F6).
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