Shares of Image Protect Inc (OTCMKTS:IMTL) closed lower on Thursday after the company announced a news.
Market Action:
On Thursday, IMTL stock lost 10.53% at $0.0017 with more than 38.31 million shares, compared to its average volume of 65.42 million shares. The stock has moved within a range of $0.0016 – 0.0022 after opening the trade at $0.0019.
Major News
Image Protect Inc (OTCMKTS:IMTL) officially launches Tokentunz.com, which is a music site developed to provide a platform for independent artists. The site will release original music, and connect artists directly to their fans, via NFTs (non-fungible token) with blockchain technology.
An exclusive deal has been inked with Jim Jones (hip hop icon, industry mogul, and crypto businessman), to deliver a Christmas song in December 2021, which will be available directly to fans, from the Tokentunz.com website, as an NFT. The song involves NFT revenue participation for 7000 owners of the NFTs based on the Streaming and Publishing revenue for the life of the song. This is a first ever offering, and Capella Grey has been roped in as a singer.
Capella Grey’s current record “Gyalis”, a single released by Capital Records, achieved Gold Status back in December 2020. Sales continue to grow consistently, and are moving towards Platinum. Jim Jones is working hard to complete the single to release it on time for Christmas.
Image Protect CEO, Lawrence Adams, shares that they are elated to be the first in the market to deliver an NFT of a Record single by a major artist. Moreover, the streaming and publishing revenues are sent directly to the NFT holder. He is confident that both Jim Jones and Capella Grey will contribute in a unique manner to make this project a huge success.
Traders Note:
IMTL stock is trading below the 20-Day and 50-Day Moving averages of $0.0021 and $0.0020 respectively. Moreover, the stock is trading below 200-Day moving average of $0.0044. The stock is down 59% in the past 3-month.
