It was a tough day in the markets for investors in CYIOS Corp (OTCMKTS:CYIO) as the stock came under selling pressure yesterday and ended up with a decline of as much as 5% for the day. In case of such a fall, it is often important for investors to take a closer look at the latest developments and then figure out if the stock could make a quick recovery or not.
Trading Data
On Thursday, CYIO stock slid 5.17% to $0.0312 with more than 553K shares, compared to a volume of 370K shares. The stock moved within a range of $0.0288 – 0.0330 after opening trade at $0.0300.
CYIOS Corp ‘s (OTC: CYIO) Immortals Group Forms Partnership with MARVELOUS NFT’s, Developer of the Highly Acclaimed Bad Days Super-Hero Play to Earn NFT Game
Such falls may often prove to be an opportunity as well. Yesterday, the blockchain-focused company announced that it had gone into a partnership with the firm Marvelous NFT’s. Marvelous is an NFT gaming development entity and is currently best known for having developed play to earn game Bad Days NFT.
It is a partnership that is mainly going to be involved with acquiring and then developing some unlicensed assets as well as valuable intellectual property that had been created a few years ago. The company will be involved in those assets which may now be available for monetization and NFT-based character development.
In the announcement made yesterday it was also noted that the Randombly platform from CYIOS and the YouTube channel from Marvelous are going to be leveraged for this partnership.
Key Quote
Mr. John O’Shea, Cyios Chairman commented, “We are very excited to enter into this partnership with the guys from Marvelous NFT’s. They have a proven track record of success via acquiring unique IP’s and monetizing those assets through NFT (P2E) gaming. The workmanship and quality of work of the Bad Days NFT game is fantastic which led to initial sales on the drop of approximately $3,500,000 and continues to be a much sought after and highly acclaimed NFT play to earn the game. This new partnership, along with our two subsidiaries, Immortals Group, and our NFT platform Randombly now provides for a white-label and/or turnkey solution for NFT developers or anyone with IP looking to develop those assets including building NFT gaming. We also plan to build our own proprietary library of NFT games based on unique and/or valuable IP some of which will incorporate AI and other features like P2E.”
Technical Data
CYIO stock is below the 20-Day and 50-Day Moving averages of $0.0318 and $0.0353 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0691. The company has a total market capitalization of $2.43 million. The stock is down 63% over the past 6-month.
