It was not a great time in the markets on Friday for investors in Live Current Media Inc (OTCMKTS:LIVC) as the company’s stock fell by as much as 3% following a key announcement. The company announced on the day that it had inked a letter of intent with regards to the implementation of Cascade Live Inc’s web3 infrastructure.
Trading Data
On Friday, LIVC stock decreased 3.41% to $0.2800 with 10.66K shares, compared to volume of 45.14K shares. The stock moved within a range of $0.2620 – 0.2890 after opening trade at $0.2890.
Live Current Media Inc. Signs LOI to Implement Cascade Live Inc.’s Web3 Infrastructure
The collaboration is going to be with regard to a project for the purpose of augmenting the existing product offerings from Kast. In addition to that, it is also going to be involved with incorporating the e-commerce and ticketing solutions from Cascade Live Inc into the Kast video streaming platform of Live Current.
The Chief Executive Officer of Live Current Media, Mark Olilia spoke about the latest development as well. He noted that the creator economy space was growing at a significant pace and the company was looking to help creators in having more active participation in the business side of things. The latest announcement was a significant one from Live Current Media and one that could propel the company into a whole new industry altogether. However, investors did not seem particularly happy.
Key Quote
“The creator economy is growing at an exhilarating pace. Creators deserve to participate in the business side of that growth, and to that end, we’re helping by providing the tools needed to monetize their efforts on Kast including by incorporating live transactions into their repertoire of antics that encourage our community members to continue enjoying the Kast experience,” said Live Current CEO Mark Ollila.
Technical Data
LIVC stock is trading above the 20-Day and 50-Day Moving averages of $0.28 and $0.25 respectively. However, the stock is trading below the 200-Day moving average of $0.30. The company has a total market capitalization of $45.08 million.
