CurrencyWorks Inc (OTCMKTS:CWRK) (CSE:CWRK) Stock In Consolidation Phase: What Next?
There is hardly any doubt that blockchain technology has changed the world of technology in a big way and it is expected to continue to be a major force in the years to come. Naturally, investors are also looking into the possibility of investing in blockchain companies as well and there are plenty of options. One of the major players in that space is CurrencyWorks Inc (OTCMKTS:CWRK) (CSE:CWRK) and it may be a good move for investors to consider taking a closer look into it at this point in time.
Market Stats: On Thursday, CWRK stock fell 6.58% to $0.1065 with 3.4K shares, compared to its average volume of 78K shares. The stock moved within a range of $0.0909 – 0.1108 after opening trading at $0.1108.
About CurrencyWorks Inc
The company is involved in building and operating a blockchain platform that offers a range of services. It should be noted that CurrencyWorks has also won awards for its stellar work.
CurrencyWorks’ Motoclub Announces Newest Barrett-Jackson Collector NFT Drop
In this context, it could be a good idea for investors to consider taking a look at some of the latest developments with regard to CurrencyWorks. The company was in fact in the news yesterday after it made a major announcement with regards to the release of the latest NFT (non-fungible tokens) collection on its Motoclub.io platform.
The NFT pack in question is the ‘Platinum Pack’ of the Barrett-Jackson Scottsdale 2022 Collector Series. The entire collection is going to have four packs and the latest release constituted the third pack of the series. In this context, it is necessary to point out that with the release of a new pack, the number of NFTs that are actually minted gets reduced. The increasing scarcity may lead to members on Motoclub.io getting more interesting in acquiring the NFTs.
CurrencyWorks Chairman Cameron Chell said: “We’re now into the second year of our partnership with Barrett-Jackson and we’re very pleased with the consumer response to our marketing strategy. Motoclub continues to grow with sustainable scalability, and this is a key driver in attracting more major automotive clients to CurrencyWorks for their NFT and blockchain-based solutions.”
CurrencyWorks’ MusicFX Introduces Integrated NFT Music Player Functionality
The company has done a lot of work in the NFT space in recent years and last month on May 31, it made another major announcement. CurrencyWorks announced on that date that the MusicFX platform that it operates had been successful in launching the very first integrated NFT music player. It was a major new development, especially considering the fact that the music player in question is a bespoke application.
At this point in time, it may be a good idea for investors to consider adding the CurrencyWorks stock to their watch lists.
“NFT music player functionality is an important milestone in the scaling up of the MusicFX platform,” said Cameron Chell, Chairman of CurrencyWorks. “NFT music is growing rapidly, so the ability to facilitate this need within the platform has been a priority for the partnership, and I’m thrilled we can now showcase this technology to prospective artists looking to use NFTs to distribute their content.”
Traders Corner:
CWRK stock is trading below the 20-Day and 50-Day Moving averages of $0.11 and $0.13 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.26.