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  4. Mogo Enters the Metaverse with an Investment in the NFT Trading Platform
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Mogo Enters the Metaverse with an Investment in the NFT Trading Platform

Mogo Inc (NASDAQ: MOGO), digital payments and financial technologies provider, said on Tuesday that it is entering the metaverse with an investment in NFT Trader. NFT Trader is a...
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Mogo Enters the Metaverse with an Investment in the NFT Trading Platform © Reuters. Mogo Enters the Metaverse with an Investment in the NFT Trading Platform

Mogo Inc (NASDAQ: MOGO), digital payments and financial technologies provider, said on Tuesday that it is entering the metaverse with an investment in NFT Trader. NFT Trader is a Canadian start-up that runs an over-the-counter (OTC) peer-to-peer trading platform for non-fungible tokens, or NFTs. Previously, the business worked on projects such as Cool Cats, Bored Ape Yacht Club, Gutter Cat Gang, and CyberKongz.

The announcement has brought about the massive potential for the digital payment provider, with Mogo's stock increasing by 4% in response to the announcement. According to David Feller, CEO of Mogo,

"The financial world is moving at a breakneck pace, and nowhere is this more evident than with the rise of Web3, the Metaverse, and NFTs."
Also Read: Cabot (NYSE:CBT) Guns Unveils its Latest Creation: A $250,000 One-of-a-kind Moonshoot Pistol and Mints NFT on OpenSea

Following the news, BTIG analyst Mark Palmer said in a letter to investors that the investment was a logical expansion of Mogo's platform. He anticipates a positive reaction to the company's stock. The analyst now rates the stock as a buy with a $13 price objective. It is currently trading at the $2.86 level.

The business first invested in NFT Trader through a convertible note, which, when converted, will represent a 25% stake in the company. Mogo may buy an additional 25% stake within six months of the first investment by a secondary acquisition of common stock. Additionally, it has the authority to designate one director to the NFT Trader board of directors.

In the words of Feller,

"We think that a next-generation financial platform will not only bridge the divide between conventional finance and DeFi but that the fusion of the digital and physical worlds will become one of the most significant development possibilities in history."

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

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GBP/USD

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USD/JPY

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AUD/USD

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USD/CAD

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EUR/JPY

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EUR/CHF

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Brent Oil Futures

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US Coffee C Futures

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Adidas AG

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
(0/ 0) # 1,510
SJC 1c, 2c, 5c7,380/ 7,550
(0/ 0) # 540
SJC 0,5c7,380/ 7,560
(0/ 0) # 550
SJC 99,99%7,370/ 7,470
(0/ 0) # 460
SJC 99%7,196/ 7,396
(0/ 0) # 386
Cập nhật 01-05-2024 10:45:19
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$2,285.72-47.5-2.04%
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Cập nhật lúc 10:45:15 01/05/2024
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