High-end luxury good-providing company SFLMaven Corp (OTCMKTS:SFLM) was in sharp focus among investors on Friday and ended up with gains of as much as 14% as a consequence. In light of the gains made by the stock on Friday, it is quite likely that the stock is going to come into focus among investors today.
Trading Data
On Friday, SFLM stock moved up 13.33% to $0.0009 with 21.08 million shares, compared to its average volume of 36 million shares. The stock moved within a range of $0.0007 – 0.0009 after opening trade at $0.0007.
About SFLMaven
The company is best known for providing these high-value luxury goods to a global-based of customers. At this point in time, the Thursday Night Auction that it conducts on its eBay store is considered its biggest weekly event and it often manages to bring considerable sums in the form of revenues for SFLMAVEN. Since the inception of the company, it has managed to bring in revenues to the tune of as much as $140 million and on top of that, the company has also managed to get more than 100000 positive reviews.
The NFT or non-fungible token space has grown at a rapid pace over the course of the past year or so and now more and more companies are entering that space in order to cash in on the trend. SFLMAVEN is the latest one to have done so and made a key announcement to that effect this past Friday.
SFLMaven Announces Development Work Now Underway on New Boutique Digital Jewelry NFTs to be Sold Through Recently Launched SFLMaven Metaverse Store
The company announced that it had commenced the development work in relation to its first range of boutique digital jewelry NFTs. The move was made by the company after it had been successful in launching the SFLMAVEN Metaverse store.
Considering the fact that the Metaverse is expected to be the next great evolution of the internet, it is only natural for a company like SFLMAVEN to move into the space with a certain degree of enthusiasm.
After all, the company conducts its auctions online on eBay every week. With its entry into the Metaverse and the launch of its NFT collection, the company is going to be able to conduct virtual auctions on the metaverse with the use of its NFTs. It was a major new announcement from the company and it seems that investors are quite excited by the whole thing as well.
Key Quote
“This is a project that we believe will further differentiate SFLMaven from all other jewelry dealers,” noted Joseph Ladin, CEO of SFLMaven. “We have a first-mover advantage in a marketplace still in its very early innings that researchers at major Wall Street firms have already highlighted as the Next Big Thing destined to drive trillions of dollars in economic value over the coming decade. We are determined to press that advantage by establishing our footprint in the metaverse with a truly unique value proposition.”
Technical Data
SFLM stock is trading above the 20-Day and 50-Day Moving averages of $0.0007 and $0.0008 respectively. However, the stock is trading below the 200-Day moving average of $0.0020.
