Novation Holdings, Inc. (“Novation” or the “Company”), a multi strategy holding company focused on identifying, developing, acquiring and bringing to market technologies and solutions to the marketplace is pleased to announce that it has entered into a Share Exchange Agreement to acquire 100% of all the outstanding membership interests in CraftClouds, LLC (“CraftClouds”) in exchange for shares of the Company’s common stock.
Latest Fintech Insights:Â 10x Banking Follows $187 Million Series C Funding with Three Senior Hires to Fuel Global Growth
CraftClouds is a next-gen NFT (non-fungible token) platform and ecosystem designed to expand on the current offerings of marketplace-based portals and deliver a platform solution for both creators and consumers as well as large scale enterprises and brands. The CraftClouds Decentralized Application (DAPP) is feature rich and includes benefits like on-chain royalty, rather than an off-chain (database-controlled royalty system). This type of innovation allows for broader usage and monetization of these new forms of digital assets.
According to blockchain analytics company, DappRadar and their recently published 2021 Dapp Industry Report, the NFT market generated over $23 billion in trading volume in 2021, an astronomical increase from the less than $100 million recorded in 2020. DappRadar further estimates that the number of unique active wallets engaging with NFTs on a daily basis went up from 5,000 in the beginning of 2021 to around 140,000 at year’s end.
As for what is in store for 2022, global investment banking giant Jefferies Group, LLC recently raised its 2022 NFT market-cap forecast to more than $35 billion and to over $80 billion for 2025 as Jefferies views digital assets as an emerging technology recommending that clients build a basket of investment exposure across video game, toy and game, and social media companies.
Browse The Complete News About Fintech :Â Softeq Launches $40 Million Venture Fund Designed for Early-Stage Tech Startups
Michael Gelmon, President and CEO of Novation Holdings, Inc. stated “Based on the astounding statistics and recent activity within the NFT marketplace, there is no doubt that NFT’s are not only here to stay but are only going to increase in popularity and in overall transactional volume. With this increase in demand, the market is ripe for a marketplace such as CraftClouds in which artists can create, mint, market and sell their NFT’s to captivated audiences. I am very impressed with CraftClouds’ talented group of programmers and developers and it is our strategy and intent to plug in a major marketing and sales component to round out the team.”
With OpenSea recently being valued at $13.3 billion, the Company believes CraftClouds has amazing potential to gain market share with its unique service offerings that make its platform easier to use, provides more flexible payment options, and provides artists with additional ways to earn residual royalties.
“Our goal is to add true value to our creators and users where it matters, whether it is operating a successful digital retail store, tokenizing a traditional asset or creating new and useful properties for use in the Metaverse” comments Alejandro Perez, Founder and CEO of CraftClouds. “We have a very clear-cut strategy for attracting and retaining the right artists and brands for the CraftClouds marketplace, in which we will begin to execute immediately ahead of our official launch before the end of the first quarter, 2022”, further comments Mr. Perez.
Novation further announces that all parties have mutually agreed to terminate the letter of intent as executed in November, 2021 for the Company to acquire Legends of Hemp and TerraVida CBD paving the way for the Company to further dedicate its focus on acquiring and developing technology related companies and solutions.
Read More About Fintech News :Â Nearly a Half of Customers Are Abandoning Financial Services Websites
[To share your insights with us, please write to sghosh@martechseries.com]
