Blockchain and Bitcoin have dominated our discussions here on Street Register of late, with anything even remotely crypto related having a better than average shot to go haywire. DNA DYNAMICS INC (OTCMKTS:DNAD) is the latest company to catch our eye, after its stock surged today on the heels of a Bitcoin related announcement.
It seems like a very short time ago that we were watching a Bitcoin passed the $5,000 mark, and indeed it was. The cryptocurrency’s new high was registered at $19,694.68 on Sunday and the epic craze continues as trading of Bitcoin futures also just recently kicked off.
DNA DYNAMICS INC (OTCMKTS:DNAD) has entered the fray with the announcement that its UK Subsidiary, DNA Interactive Limited, has signed a Binding Term Sheet to acquire a crucial patent that requires any Bitcoin ATM operator to give a royalty on every Bitcoin ATM transaction throughout the US.
DNA reports that the ‘Bitcoin ATM’ is relatively new and has seen the number of units grow from 500 just over a year ago to nearly three times that number today. With nearly ten new units now being installed each day across the US the number could reach well over 5000 in 2018 with the number of transactions reaching upwards of 250,000 per annum by 2019.
Commenting on the newly signed partnership, CEO Carl Grant had this to say: “Crypto-currency is an incredibly exciting market to be involved in at this time and having the ability to earn a royalty on bitcoin transactions undertaken on the fast-growing Bitcoin ATM market puts us in a central position to monetize on the Bitcoin boom. The patent allows for a royalty to be collected on each installation as well as on every single bitcoin transaction, giving this asset alone the potential to generate well over $1m in revenue each year.” (Source: OTC Disclosure and News Service)
In addition to the new revelation that it would pursue this ATM patent, DNAD has also related its aim to create a ‘skills-based gaming’ platform where players pit themselves one against the other to put their knowledge and experience to the test for profit.
The gaming platform that the company is currently evaluating and undertaking due diligence on is initially to be based around sports activities such as Football, Baseball, Soccer and Basketball.
In order to comply with the various State rules around Games of Skill, the company went looking for a compliant ‘payment processing system’ that allowed gamers to ‘swap’ their winnings for crypto-currencies or ‘game-coins’ that can either be stored in a digital wallet or even used within other games. A player can keep their winnings DNAD’s own home-grown crypto-currency; they can ‘swap’ it for bitcoins or another popular crypto-currency.
We’ll be very eager to see how DNAD will follow through with the Bitcoin ATM patent, and when the acquisition becomes final. Additionally, we’ll await new details on the gaming platform they have in the works. The crypto craze doesn’t show many signs of slowing anytime soon, despite being called a bubble by the less bullish. We’ll add DNAD to our growing list of Bitcoin involved plays, and track its activity moving forward. Stay locked to Street Register for updates, and we’ll deliver important developments on DNAD as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in DNAD stock, short or long.