CurrencyWorks (CWRK.V) has signed a deal allowing Today Mobile Wallet holders access to the Company’s collectibles non-fungible tokens platform and proprietary NFT payment platform at its launch in the second quarter of 2021.
“Demand for participation in acquiring NFTs is quickly accelerating…Creating accessibility to XTM’s Today users through Curencyworks’ proprietary platform is another step in broadening our base,” said Cameron Chell, Chairman, CurrencyWorks.
NFTs refer to unit of data on a digital ledger called a blockchain. On this ledger, each NFT can represent a unique digital item meaning they are non-interchangeable. Furthermore, NFTs can represent digital files such as art, audio, videos, items in video games and other forms of creative work. According to Bloomberg, NFTs have rapidly developed into a billion-dollar market. CurrencyWorks has positioned itself well within this market having created and managed some of the most unique and successful programs. This includes the Company’s most recent deal with Barrett Jackson creating the first NFTs for car collectors.
CurrencyWorks is a pioneer in the NFT space, offering its CurrencyWorks Collectibles NFT platform. The platform includes unique features and capabilities with the intention of driving value and promoting the best user experience of the NFTs created and managed for its customers. Additionally, CurrencyWorks has value-add features including design of NFTs, automatic copyright registration with the U.S. copyright office, usage tracking, license managing and additional benefits. Although CurrencyWorks is a pioneer, there are many companies creating their own NFT platforms like Valuables. For a complete breakdown of NFTs for dummies, check out Equity Gurus’ article written by Madelyn Grace.
“We have growing demand from our mobile subscribers for easy access to a NFT provider…With Currencywork being the leader and innovator in the space this exclusive choice was an easy one,” commented Marilyn Schaffer, CEO of XTM.
Whether you’re an artist or a buyer, investing into the NFT market is worth considering. According to a study conducting by NonFungible.com, the NFT market tripled in 2020. Additionally, the total value of transactions saw an increase of 299% year over year equaling over $250 million. With this in mind, companies like CurrencyWorks have seen massive growth as various forms of digital payment are verified and popularized. For example, the Company saw a huge increase in its stock after accepting bitcoin as a payment method. Keep in mind, bitcoin was nothing more than a speck of dust to the general public not too long ago. Now its worth C $67,806.40 per bitcoin. If NFTs continue to reach the mainstream, CurrencyWorks will continue to grow substantially.
CurrencyWorks’ stock price went up to $3.09 at open and reached a high of $3.37 following the news. The stock price currently sits at $3.20.