Blockchain Technology Surges in Popularity

NEW YORK, April 27, 2018 /PRNewswire/ --

According to a report published by Global Market Estimates, the blockchain technology market is expected to reach USD 12.48 billion by 2025 and growing at a compound annual growth rate of 53.2 percent during the forecast period. Blockchain technology is a type of distributed ledger technology that enables transparent and faster processing of transactions between parties. The technology is widely used in recording cryptocurrency transactions. It is now also used across industries such as financial institutions, insurance, diamonds, music, and stock exchanges among others. Victory Square Technologies Inc. (OTC: VSQTF), HIVE Blockchain Technologies Ltd. (OTC: HVBTF), ChinaNet-Online Holdings, Inc. (NASDAQ: CNET), NXT-ID, Inc. (NASDAQ: NXTD), Acacia Research Corporation (NASDAQ: ACTG).

The Payment application segment is expected to continue dominating the blockchain market as blockchain technology would make digital identities more secure and efficient. The report also analyzed the blockchain technology market by vertical insights: "The Banking, Financial Services, and Insurance segment are projected to hold the largest market share over the forecast period. The media and entertainment vertical is anticipated to grow at the highest CAGR by 2025 due to the growing adoption of Blockchain across smart contracts, document management, and digital identities in the media industry."

Victory Square Technologies Inc. (OTC: VSQTF) also listed on the Canadian Securities Exchange under the Ticker (CSE:VST). Earlier this week the company provided an update that, "strong performances by three of its portfolio companies."

Bluzelle Investment (511% INCREASE) - In December 2017, Victory Square purchased $250,000 Canadian worth of Bluzelle tokens (BLZ), with an additional 25% incentive bonus tokens received for being an early contributor. The Company's average token price is $0.09 cents. As of April 22, 2018, BLZ trades for $0.55/token, representing a 511% increase over the average cost base. Bluzelle is a decentralized database service where users are able to rent out their computer storage space and be compensated with a cryptocurrency token. Decentralized app developers then use these tokens to have their decentralized app's data stored and managed. Decentralized database services have the potential to provide more scalable, secure and affordable storage solutions than current centralized alternatives.

VS Blockchain Assembly Inc. Financing ($12M GAIN) - The Company is excited to announce that VS Blockchain Assembly Inc. ("Blockchain Assembly") recently completed a financing at $0.75 a share, valuing the company at approximately $33.2 million Canadian. Victory Square maintains an approximate 36.17% equity stake in Blockchain Assembly, which plans to list on the Canadian Securities Exchange later this year. Incubated by Victory Square in 2017, Blockchain Assembly focuses on designing and deploying innovative token-based capital solutions for technology firms, while helping those businesses raise capital through comprehensive tokenization strategies that include delivering Token sales to the global capital markets.

FansUnite Media Inc. Acquisition (400% GAIN) - Victory Square acquired FansUnite Media Inc. ("FansUnite") in September 2016 for $2 million Canadian in exchange for common shares in Victory Square. Victory Square is pleased to announce that FansUnite is currently raising a private placement round of $4 million Canadian (at a pre-money valuation of $13 million Canadian) towards their go-public strategy in Q4 2018. FansUnite is also planning to launch their regulatory-compliant token sale this summer to raise an additional $10 million Canadian of non-dilutive funding for the company. FansUnite is using blockchain to disrupt the sports betting and sports data industries. The flagship FansUnite asset will be the first sports betting blockchain protocol, allowing any company to build their tokenized platform on top of the FansUnite infrastructure. The first application built atop this protocol will be the FansUnite Sportsbook, the first decentralized social sports betting platform in the world.

Overview - We have seen a number of other exceptional performances by Victory Square portfolio companies, including those by V2 Games Inc., Fantasy 360 Technologies Inc. doing business as Immersive Tech, Limitless Blockchain Technology, LLC, Cassia Research Inc., PayVida Solutions Inc., Flo Digital Inc., Howyl Ventures Inc., and Multiplied Networks Inc. Some of these investments have returned well in excess of 100% and have promising funding strategies that will be executed in 2018.

"We are delighted to report that we have seen extremely rapid growth amongst our portfolio companies as each one of them has achieved key milestones in the past few months," commented Shafin Diamond Tejani, CEO of Victory Square. "The coming year is shaping up to be an exciting one, not only for our partner companies, but also for the overall development of the technology sector in Canada. As a result, our acquisition strategy and focus remains on finding quality companies in emerging technology verticals that have identified a sector niche and are in need of capital and expertise to scale out their operations."

HIVE Blockchain Technologies Ltd. (OTC: HVBTF) is a growth oriented company building a bridge from the blockchain sector to traditional capital markets. HIVE Blockchain Technologies Ltd. Announced on April 3rd, the completion of the second phase ("Sweden Phase 2") of a multi-phase build-out of a large-scale GPU-based mining complex in Sweden. The Sweden Phase 2 operation commenced mining at the end of March 2018 and increases the Company's run-rate energy consumption dedicated to cryptocurrency mining by 6.8 megawatts ("MW") to 17.4 MW, an increase of 65%.

ChinaNet-Online Holdings, Inc. (NASDAQ: CNET), earlier in January announced it has entered into an agreement with Wuxi Jingtum Network Technology ("Jingtum" or "Jingtum Technology") and Ford tree Beijing）Blockchain Technology Co., Ltd. ("Ford Tree") to establish a new joint venture company ("new JV") to research and develop blockchain technology and its applications for ChinaNet's blockchain technical and business units. ChinaNet will act as the controlling shareholder leading all aspects of the project.  "The establishment of the new JV is an important and significant step for ChinaNet to further extend and develop our blockchain technical strategy," stated Mr. Handong Cheng, CEO of ChinaNet.

NXT-ID, Inc. (NASDAQ: NXTD) subsidiary, Fit Pay, Inc. announced on February 22nd, that it is now accepting pre-orders for Flip™, a new contactless payment device that will enable cryptocurrency holders to use the value of their currency to make purchases at millions of retail locations. The new device, which was announced earlier this month, uses value exchanged from cryptocurrency to make traditional payment transactions.  "Flip represents an exciting expansion of the FitPay Payment Platform by connecting cryptocurrencies to the payment ecosystem," said Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc. "We founded Fit Pay to fundamentally change the payment experience, and making contactless payments with cryptocurrency is a big step toward that goal."

Acacia Research Corporation (NASDAQ: ACTG) announced in February that it has entered into a Joint Venture and Services Agreement with Bitzumi, Inc., a company developing macro opportunities in the cryptocurrency and blockchain industries, including a next generation decentralized exchange. Acacia's investment in Bitzumi represents Acacia's first investment into the cryptocurrency and blockchain marketplaces. Bitzumi is a digital content and asset platform that plans to enable users to transact in the cryptocurrency and blockchain marketplace. Bitzumi model is to develop a next generation decentralized exchange while simultaneously developing and acquiring the largest network of crypto and blockchain related digital properties.

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