One of the companies that was in the news cycle yesterday was American Films Inc (OTCMKTS:AMFL) and this morning it could be a good idea for investors to consider taking a closer look at the developments. The company came into focus yesterday after it announced that it was working on the development of a website for the purpose of blockchain registration of those who own copyrights.
On Tuesday, AMFL stock was down 3.24% to $0.8945 with more than 2.2K shares, compared to its average volume of 8.9K shares. The stock moved within a range of $0.8945 – 0.9300 after opening trade at $0.93.
American Films To Introduce Blockchain Registration Website for Independent Filmmakers and Song Writers
It is going to be a subscription-based service and will help content creators with intellectual property protection. The protection is going to be provided through Solana-based blockchain registration. In addition to that, American Films is also planning to offer registrations on Ravencoin and other crypto-related platforms eventually.
However, that is not all. The company also noted that it was also going to provide evidence support and data monitoring related to any copyright infringement. This particular service is going to be provided by Facterra, which is a subsidiary of American Films. It was a major new announcement from the company and one that could work as a long-term boost to is the bottom line. It may be a good idea to add the stock to your watch lists at this point.
“AFI prides itself as a global trust and risk mitigation partner to copyright owners,” said Geoff Lee, President and Chief Executive Officer of AFI. “This new service offering will provide revenue growth opportunities for the company and support copyright owners in the fight against digital fraud,” added Lee.
Technical Data AMFL stock is trading below the 20-Day and 50-Day Moving averages of $0.97 and $1 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.31.