by Cryptyde (NASDAQ: TYDE) a company focused on blockchain technology including NFTs, Smart Contracts, Metaverse, and Crypto announced a hold on their Freescape Metaverse project.
Freescape Metaverse
Freescape was set out to be a Virtual Experience that consists of custom-curated avatars that give users access to the Freescape open Metaverse.
Characters most notably Space Cowboys is a collection of 9,999 minted as ERC 721 tokens. Holding a Space Cowboy gives you full VIP access to all future drops.
Home of the Space Cowboys is the Mega Wild West, which was set to be the first map released under the Space Cowboy collection.
Mega Wild West, a desert theme with a storyline being created by outlaws, gunslingers, and cattle rustlers had the intention to be a shooter-based game mode.
Crypto Winter
The term Crypto Winter refers to a prolonged period in which Crypto assets across the board drop in significant value.
Binance CEO, “CZ” Changepeng Zhao believes Crypto Winter is here to stay, at least till 2026 in an interview with Fortune.
While Crypto Winter is ongoing big tech companies most notably Google has recently partnered with Coinbase to accept Crypto as payment for its Google Cloud services.
The adoption of Crypto assets by big tech companies is a step in the right direction toward everyday consumer adoption.
Forever 8 focus
Cryptyde decision to put Freescape Metaverse on hold to focus on its Forever 8 acquisition could be due to the ongoing Crypto Winter and the company’s desire to focus on revenue growth.
Focused on #revenuegrowth at Money 2020
BP McFadden, CEO of Cryptyde
Forever 8 is an e-commerce fintech company that funds inventory for Amazon, Shopify, and other leading e-commerce platforms.
BP McFadden has plans to tokenize the Amazon ecosystem by use of the Forever 8 model during a recent interview with Scott Melker.
“We’re taking all of that knowledge and data (Forever 8) packaging that up into a Token and allowing consumers now to participate on the backside of that entire sale process”
BP McFadden, CEO of Cryptyde
The desire to tokenize the Amazon ecosystem is not only innovative but disruptive toward the entire Crypto industry in general. This will introduce a use case for Crypto assets which will further lead to everyday consumer adoption.
Amazon is the leading online e-commerce platform in the world, Cryptyde’s desire to focus on revenue growth within this industry is an encouraging sign.
While many investors were awaiting the release of the Freescape Metaverse, they will have to wait a bit longer to allow Cryptyde to focus on other avenues of its business.
