CUMMING, GA / ACCESSWIRE / April 6, 2022 / Waterside Capital Corporation (OTC PINK:WSCC) (the “Company”) announced today that it has raised $1.1 million in funding from lenders to create a web3 company.
The company has three areas it will focus on:
Liquidity Providers – In decentralized finance (DeFi), the ability to trade assets between each other is facilitated by liquidity pools (LPs), which generally contain a 50/50 balance between both underlying tokens. The company will invest heavily in LPs to generate ongoing revenue. We anticipate that this revenue will fuel our other initiatives in building the business.
Staking – Like LPs, staking can provide potential passive revenue for the business. Buying large blocks of lucrative Proof-of-Stake (PoS) assets to expand passive income portfolio is expected to be a key cornerstone of our success. This is a much greener approach than the traditional proof-of-work model used by Bitcoin and Ethereum. Ethereum 2.0 is expected to be available on PoS in the near future and we would like to eventually become a validator on the network.
Non-Fungible Tokens (NFTs) – The Company intends to build a world-class NFT project research team that will lead the strategic investments for the overall portfolio. We expect our portfolio to include digital assets known as NFTs, including digital properties in multiple Metaverse platforms such as The Sandbox and Yuga Labs upcoming Otherside. It is expected that these assets will be used for royalty and royalty income. NFT assets have multiple use cases aside from potentially adding value to the underlying digital asset. We believe we can harness the power of acquired assets through the Metaverse to grow our portfolio faster and more significantly than traditional asset acquisition would normally allow.
The Company may post material information on the Company’s official Twitter handle (@metavesco) and on the Twitter handle of Ryan Schadel (@cryanschadel), the Company’s President and CEO.
The Company’s website, www.metavesco.com, is under development and is expected to be live upon FINRA approval of the Company’s name change to Metavesco, Inc.
Safe Harbor Declaration
This press release contains statements that constitute forward-looking statements. These statements appear at various locations in this press release and include all statements that are not statements of historical fact regarding the intention, belief or current expectations of the Company, its directors or officers, including but not limited to: (i) financing plans ; (ii) trends affecting its financial condition or results of operations; and (iii) growth strategy and operating strategy. The words “may”, “would”, “will”, “expect”, “estimate”, “may”, “believe”, “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s control and actual results could differ materially from those projected in the forward-looking statements as a result of various factors. See the Company’s filings on sec.gov for additional information on the potential factors that could affect its business and financial results.
CONTACT:
[email protected]
(678) 341-5898
SOURCE: Waterside Capital Corp.
View source version on accesswire.com:
https://www.accesswire.com/696223/Waterside-Raises-11-Million-to-Launch-Web3-Enterprise
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