After the company made a major announcement with regards to its decentralized social media platform digitalage.com this morning, the Hop-On Inc (OTCMKTS:HPNN) stock has actually declined and gone down by 4%.
However, at the same time, it is also necessary for investors to keep in mind that over the course of the past week the stock has clocked gains of as much as 60%. This morning the company announced that it was successful in having gathered limited licenses to music created by as many as 1.2 million artists and that consists of a staggering 20 million works. All that can now be played on the company’s social media platform.
The acquisition of these limited licenses marks a significant milestone for the company since it will now bring into play the data portability aspects of both CCPA and GDPR. Hence, those who want can now easily transfer their data from other social media platforms. By way of this move, the company is trying to create an ecosystem in which artists can flourish.
In addition to that, it has also been claimed that this particular service from DigitalAge is also going to be different from existing social media services since it is going to give users complete control over their data.
At a time when more and more people are becoming disillusioned with the privacy concerns on most of the popular social media websites, this is a major offering and one that could prove to be quite popular going forward. Hence, anyone who might be interested in new tech companies and social media could do well to keep an eye on the Hop-On stock over the coming weeks.