HUMBL Inc. (OTCMKTS:HMBL) announced a strategic technology partnership with Great Foods2Go on September 26, 2022. As per the terms of the agreement, the two companies will integrate the former’s mobile application, search engine, and marketplace technologies in support of Great Foods2Go and its sub-brand, 1Delivery.
On Monday, HMBL soared 1.68% to $0.0273 with more than 8.94 million shares traded, compared to volume of 9.62 million shares. The stock moved within a range of $0.0266 – 0.0299 after opening trading at $0.0299.
HUMBL and Great Foods2Go Announce Strategic Technology Partnership
During the initial phase, the partnership will focus on the San Diego, California cloud kitchen location, but gradually it is to be expanded to several locations. The partnership will utilize the full HUMBL platform including HUMBL Wallet, HUMBL Pay, HUMBL Search Engine, and HUMBL Marketplace technologies.
This location presently prepares and delivers over 2,000 food orders per month across 30 virtual brands, ranging in popular cuisine styles such as American, Mexican, Italian, and more. The location is to be rebranded as the first “HUMBL Hub”, to determine the best technology mix of mobile payment applications, point-of-sale (POS) systems, search engine advertising, and marketplace delivery technologies.
Virtual brands will also be tested by both companies, using HUMBL’s mascot, a Bored Ape Yacht Club NFT named “BLUE,” using such kitchen themes as “Blue’s Tacos” and “Blue’s Boring Breakfast,” for which HUMBL will receive a revenue share on all orders. Great Foods2Go comes has a SaaS technology integration partnership with one of its minority investment partners, Maker Kitchens, so that Great Foods2Go can expand its technologies to multiple cloud kitchen locations.
“I have gotten to know the group at GF2GO well over the past year and value their shared commitment to hard work and rapid technology development here in the San Diego border region,” said Brian Foote, CEO HUMBL.
HMBL stock is trading below the 20-Day and 50-Day Moving averages of $0.0387 and $0.0576 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1381. The company has a total market capitalization of $46 million.