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Looking Glass Labs Ltd (OTCMKTS:LGSLF) Stock In Focus After Announcing Strategic Development Partnership with Cavrnus

Jon Williams , , , ,

Web3 is an industry that is expected to grow at a fairly decent pace in the coming years and if you are looking for companies in that sector, then there are a number of options. One of those is Looking Glass Labs Ltd (OTCMKTS:LGSLF), which operates one of the leading Web3 platforms specializing in metaverse environments, blockchain monetization and play to earn tokenization.

Trading Data

On Monday, LGSLF stock ended flat at $0.1195 with 129.90K shares, compared to volume of 172.15K shares. The stock moved within a range of $0.1195 – 0.1195 after opening trade at $0.1540.

Looking Glass Labs Forms Strategic Development Partnership with Cavrnus to Deliver Clear Metaverse Innovation and Commercialization Strategy

The company came into the news cycle yesterday after it announced that it had inked a strategic development agreement with Cavrnus Inc. The agreement is also going to be the basis of a strategic development partnership between the two parties.

It was a significant new development for Looking Glass Labs and it is going to be interesting to see if the stock gets any traction in the coming days or not. The main objecting of the agreement between the two parties is to develop metaverse experiences which are immersive in nature.

The experiences are going to be created for consumer brands. That is going to be achieved through the expansion of Looking Glass Labs’ product Pocket Dimension. It may be a good idea for investors to keep a keen eye on further developments on this front.

Key Quote

“We are excited to collaborate with Cavrnus in this way. Their expertise is complementary to ours and we expect the outcome of our joint focus to be quite positive,” said Dorian Banks, Chief Executive Officer at LGL. “In order to evolve in the metaverse sector, we believe that strategic relationships are vital and we want to continue to create user-friendly and fulfilling metaverse experiences for Pocket Dimension holders,” added Mr. Banks.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.