The metaverse is now regarded as the next major frontier in the evolution of the internet and many companies are now moving into it so as not to miss out. FBC Holdings Inc (OTCMKTS:FBCD) announced yesterday that it was exploring the option of entering the metaverse space by way of its fully owned subsidiary unit Formrunner Apparel Inc.
Trading Data
On Wednesday, FBCD stock ended flat at $0.0003 with 18.95 million shares, compared to its average volume 18.20 million shares. The stock moved within a range of $0.0003 – 0.0004 after opening trade at $0.0003.
FBC Holding, Inc. (FBCD) Taking A Step Toward Metaverse Technology
The company noted that it was exploring the option for the purpose of making a major move into the digital fashion market. In this regard, it ought to be noted that in recent times Formrunner has been contemplating a plan by way of which it could launch its accessories and apparels through a virtual clothing shop on the metaverse.
The company seeks to launch the products through a range of platforms like Decentraland and The Sandbox among others. In other words, the company is moving quickly towards eventually launching virtual clothing shops on the metaverse and it could be said that it may end up being a highly forward thinking move.
Lisa Nelson, the President and Chief Executive Officer of the company noted that people are still not aware of how massive the metaverse is going to be eventually and hence, FBC Holdings decided to move into it early.
Technical Data
FBCD stock is above the 20-Day and 50-Day Moving averages of $0.0003 and $0.0003 respectively. However, the stock is trading below the 200-Day moving average of $0.0022. The company has a total market capitalization of $432K. The stock is down 25% over the past month.
