One of the companies that could be worth watching this week is Santo Mining Corp (OTCMKTS:SANP) which had come into the news cycle yesterday following a key new announcement. The company was in the news yesterday after it announced that it had gone into a Non-Fungible Token (NFT) software development agreement with the firm Vegachi Holdings SAS.
On Monday, SANP stock ended flat at $0.0002 with 133.70 million shares, compared to volume of 51.35 million shares. The stock moved within a range of $0.0002 – 0.0003 after opening trade at $0.0002.
Santo Blockchain Labs Signs NFT Software Development Agreement for Fractalization of Land with Gold Mining Rights
The agreement in question is related to the development of a number of NFTs which are going to be linked to the fractalization of land which bear gold mining rights. As per the provisions of the agreement, Santo Mining would be entitled to a transaction fee of 3% for each NFT that is sold and 1.5% of each future transaction in the NFTs which are minted.
The Chief Executive Officer of Santo Mining Mr. Yglesias spoke about the latest development as well. He noted that the agreement was a major opportunity for the company to showcase the strength of its NFT development credentials.
He went on to add that the fee structure that the company had agreed upon would also result in the influx of recurring revenues for Santo Mining. It would be interesting to see if the stock comes on to the focus of investors today.