It’s on the news, it’s on TV and it’s on newspapers. Almost everyone nowadays wants to jump in on the initial coin offering (ICO) hype train.
Blockchain investment has boomed in recent years. With investors becoming instant millionaires, no one denies the massive pull and lucrative appeal of cryptocurrencies. Consider this: a $1,000 Bitcoin in 2010 is worth $35 million last year. Who does not want to take part in it? A lot of companies recognize the real opportunity — some even consider it a mortal sin not to adapt to the latest trend, and these ‘doomed’ organizations will later serve as great lessons to others.
Venturing into cryptos
Among the companies that are expanding from their core business group to venture in cryptocurrencies is Atari and Vapor Group. Atari, known for producing video games “Pong” and the Atari 2600, recently revealed it is now engaging in a cryptocurrency-based “Atari Token” platform. The move surprised not a few, but it seemed logical at the moment for the struggling company.
After the news broke out, shares of Atari SA (EPA:ATA) surged by as much as 52 percent — a much needed shot in the arm for Atari. Chairman and Chief Executive Officer Frederic Chesnais believes the move is justified.
“Given our technological strengths with the development studios, and the global reputation of the Atari brand, we have the opportunity to position ourselves attractively in this sector,” he said.
Atari added that Atari Token will be used for all kinds of digital entertainment on its platform.
Large scale crypto mining requires numerous machines.
On the other hand, Vapor Group (OTC Pink: VPOR) made a name for itself selling e-cigarettes, vaporizers, and e-liquids. Now, the company has ventured to crypto mining, an area in cryptocurrency industry that is not yet saturated. It announced the move in a big way, acquiring 35 state-of-the-art crypto mining machines since December last year.
The machines are a serious investment as company president Yaniv Nahon said it will give them the capacity to mine 99 percent of all existing cryptocurrencies. Because of this new area of Vapor Group’s business, the company has launched CryptoTechCurrency, Inc. which will focus on crypto mining 24/7 for uninterrupted operation.
Vapor Group, despite the new ventures, already had a stellar 2017 with $500,000 in revenue because of the success of their two products Easy Grinder™ and Royal CBD. With CryptoTechCurrency in place, 2018 earnings are expected to be better than last year.
Other companies that are now into cryptocurrency are Kodak, Long Island Iced Tea, and a Hooters franchise.
Continuous growth
The opportunities in the industry seem to be endless. Global Blockchain Technologies Corp. (TSXV:BLOC.V, OTC:BLKCF) recently launched and it involves the best of both worlds: blockchain and portfolio.
Steven Nerayoff created Global Blockchain, and if his name rings a bell, it is because he was responsible for the $100 billion Ethereum project. Global Blockchain’s main aim is simple — fund new mined currencies in return for an equity stake and a significant percentage of the founders’ tokens.
For those who are newbies in cryptocurrency, the name of Nerayoff should be enough for assurance about Global Blockchain. Aside from the Ethereum project, whose value has increased by as much as 357,000 percent since its inception, he also acts as an advisor to the Lisk Cryptocurrency project which has a current market cap of $2 billion.
He is joined by industry stalwarts such as Rick Willard (co-founder of the Silicon Valley Blockchain Society), Kyle Kemper (Blockchain Association of Canada), Jeff Pulver (involved in 350 startups) and Michael Terpin (Marketwire). One thing is for sure, these guys know what they are doing and they have successful startups as evidence.
Investors will get access to pre-ICO and ICO tokens. With more and more companies shifting to ICO tokens and cryptocurrency on their own platform, expected growth in this area is massive. The investors will also get exclusive information on token deals that only Global Blockchain can provide. The company has a $64 million market cap, but experts agree the numbers could skyrocket soon due to the innovation and unparalleled service it brings to the industry.
Will you choose to get left behind when another set of opportunities present themselves ready for the picking? The choice is ultimately yours — but as far as Kodak, Atari, Global Blockchain and Vapor Group are concerned, the cryptocurrency hype train is real and they don’t want to get left behind.