What we all just witnessed is a comeback story fit for a movie: Facebook’s Libra Project capped off an extraordinary second quarter for crypto and particularly for branded coins, which are benefiting from Bitcoin’s ascent but not dependent on it. Corporate coins like Libra and JPMorgan’s JPM Coin have given investors a view of the future: every large company will, sooner or later, have its own proprietary digital currency.
All along, I’ve been pounding the table for one of the the most promising up-and-comers in the branded cryptocurrency market, ICOx Innovations Inc. (TSX.V:ICOX, OTCQB:ICOX). They’re in the business of developing the blockchains and digital currencies that large companies need to stay current in an increasingly tokenized world.
ICOx Innovations President Bruce Elliott recapped an outstanding 2019 thus far in a recent address that highlighted multiple innovations and strategic partnerships, as ICOx continued to leverage its team’s deep expertise in blockchain technology and regulatory compliance.
It’s hard to know where to begin with all of the accomplishments, but one event that just can’t be ignored is ICOx’s launch of Cathio Inc., a company dedicated to providing turnkey solutions for Catholic organizations to bring their financial transactions into alignment with their beliefs. With a stellar Board and Advisors including former Senator Rick Santorum, Cathio has already announced MOUs for four customer engagements and expects more product and customer announcements over the coming quarters.
Then there was the announcement of sBetOne, which will enable ICOx to capitalize on the rapidly expanding American sports betting market. Initially focused on golf betting and e-sports betting, sBetOne is committed to developing opportunities in regulated celebrity-endorsed sports gambling platforms.
Much like Cathio, sBetOne has a star-studded Advisory Board including Gabe Hunterton, the former President of City of Dreams Casino Macau and former National Director Marketing for Bellagio Las Vegas; David Flynn, with former senior leadership roles at Ongame, NYX Gaming, and VeraJohn.com; and Ashley Sandyford Sykes, the former Executive Vice President Digital Games at Scientific Gaming and product owner for major casino and sports betting platforms.
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By taking on these largely untapped markets, ICOx is building out the blockchain infrastructure and powering the new digital economy of tomorrow.
As Mr. Elliott announced, ICOx partner BitRail’s first signed customer is FreedomCoin, which serves a sizable community of 4.7 million registered users transacting over $650 million annually. Given its potential for mass adoption, FreedomCoin could easily become one of the most retail-transacted cryptocurrencies in the U.S. within the next 12 months.
Courtesy: Freedom Coin
The ICOx President also revealed that their partner RYDE Holding Inc., which operates the KODAKOne Platform, announced that KODAKOne is already earning revenues. Additionally, RYDE Holding Inc. is currently servicing more than 22 customers live on the KODAKOne Post-Licensing Platform and producing daily revenues for their clients.
Ryde Holding Inc. also announced a partnership agreement with Image Protect, targeting the addition of 75 new customers on the KODAKOne Post-Licensing Platform. The RYDE and Image Protect partnership will be implemented over the coming quarter, with infringement identification, fee collections and revenues expected to commence as early as August.
One innovation after another: that’s the best way to describe ICOx’s second quarter of the year, and I’m expecting further growth throughout the remainder of 2019.
Chief Editor, CrushTheStreet.com
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Disclaimer ICOx Innovations Inc. (the “Company”) for Forward-Looking Statements
This article contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the author believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this article include statements regarding: the correlation between the value of branded cryptocurrencies and Bitcoin; whether every large company will develop its own proprietary digital currency; the Company being one of the most promising up-and-comers in the branded cryptocurrency market; the need of large companies to develop their own cryptocurrencies to stay current in an increasingly tokenized world; sBetOne enabling the Company to capitalize on the rapidly expanding American sports betting market; the likelihood sBetOne will develop opportunities in regulated celebrity-endorsed sports gambling forums; the benefits to the Company of getting involved in the esports betting and online gambling markets; the potential for mass adoption of Freedom-Coin and the likelihood that it could become one of the most retail-transacted cryptocurrencies in the U.S. within the next 12 months; the likelihood of the RYDE and Image Protect partnership being implemented over the coming quarter, with infringement identification, fee collections and revenues commencing as early as August; and the likelihood the Company will experience growth throughout the remainder of 2019. The forward-looking statements reflect the author’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements. Although the author believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include: changes in growth and size of cryptocurrency and blockchain technology market; attitude of corporations toward cryptocurrency and blockchain; the continued growth and success of Cathio, sBetOne, KODAKOne, and Freedom-Coin; changes to the regulatory environment surrounding cryptocurrency and online betting; the extent to which blockchain technology will be internationally implemented; potential changes for retail transactions involving cryptocurrency; changes in market conditions and other factors beyond the control of the Company.
This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. Crush The Street has been compensated two hundred and fifty thousand dollars for a three months marketing agreement, directly by ICOx Innovations. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.
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