Asia Broadband Inc (OTCMKTS:AABB) Stock Corrects After Unveiling New NFT Intellectual Property the Golden Baboons Mining Club
While it is true that the crypto market remains in a bit of turmoil, companies involved in that space are still making significant moves and one of those is Asia Broadband Inc (OTCMKTS:AABB). The company was in the news yesterday after it provided an update with regards to its NFT (non-fungible token) project.
Trading Data
On Wednesday, AABB stock lost 3.41% to $0.0340 with 6.23 million shares, compared to volume of 9.05 million shares. The stock moved within a range of $0.0336 – 0.0372 after opening trade at $0.0365.
Asia Broadband Unveils New NFT Intellectual Property the Golden Baboons Mining Club
It announced that the collection of NFT rendering were in the last developmental stages before it could be released on to the NFT marketplace. In this context the company announced that it had been in collaboration with a number of Web 3 consultants for the purpose of completing the project. The project has been named ‘Golden Baboons Mining Club’ by Asia Broadband.
It was further noted in the press release yesterday that the management at Asia Broadband was going to continue work on its NFT business strategy. Additionally, the company was aiming to take its NFT business plan into the digital business segment that is in place at Asia Broadband. It was also argued by Asia Broadband that the jump from Web 2 to Web 3 is going to place the company in a position from which it could bring about growth in the coming years.
Key Quote
“Since we are a gold mining company and also have our AABBG gold-backed digital token, it was a logical extension to develop an NFT project related to gold. Our primary goal with the NFT segment is to bring all the elements of AABB together to increase market awareness in an entertaining way with the creation of an endearing mascot-like character that embraces the spirit and community of all AABB followers. Consequently, we intend to build shareholder value and loyalty by positioning our own unique “Baboon Army” in the NFT space as other company’s have done like AMC with its Ape ARMY,” expressed Chris Torres, AABB President and CEO.
Technical Data
AABB stock is trading below the 20-Day and 50-Day Moving averages of $0.0375 and $0.0430 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0709.
