Allied Gaming Dives into Crypto,Stock Soars Over 100%
Nasdaq-listed Allied Gaming & Entertainment made a bold move by adding Bitcoin and ethereum too its corporate treasury.This strategic decision aligns with the growing trend of institutional adoption of digital assets.
The company sees this investment not just as a financial play, but as a step toward integrating blockchain technology into its core business. This integration aims to create a Web3-native entertainment ecosystem. CEO James li stated, “We view cryptocurrency as a key component for shaping our business’s future.”
Allied Gaming plans to use blockchain for various purposes, such as tokenizing real-world assets like live event rights and film IP. They also aim to introduce blockchain-based payments across their platforms and venues.
The market responded enthusiastically. After the announcement, AGAE shares climbed over 105%. This important rise pushed the company’s market cap to about $73 million.
- Allied Gaming invests in BTC and ETH.
- Plan to integrate blockchain into their entertainment business.
- AGAE shares spiked over 105% post-announcement.
This move reflects Allied Gaming’s commitment to diversifying its treasury while embracing the potential of blockchain technology. As the company delves deeper into digital assets, it sets the stage for a more interconnected world of gaming and entertainment.
