Roadmap highlights potential partnerships/acquisition strategy and planned expansion of existing business verticals and growth plans
SAFETY HARBOR, Florida, July 06, 2022 (GLOBE NEWSWIRE) — Cryptyde, Inc. (NASDAQ: TYDE) an offering of comprehensive, scalable Web3 businesses utilizing blockchain technologies, NFTs, Smart Contracts, Metaverse and Crypto announced today its reporting of a corporate roadmap for the remainder of 2022 into 2023.
Brian McFadden, President and CEO of Cryptyde, Inc. stated, “With our recent spinoff from Vinco Ventures, and now operating as a fully independent NASDAQ listed company, we wanted to provide an update regarding our business and forthcoming objectives to both our industry stakeholders as well as our investors. We believe that our accomplishments highlighted below have created a fundamental base for our organization to realize our stated objectives for 2022 carrying into 2023. We feel confident that upon successful execution, Cryptyde can become both an industry pioneer, as well as leader in the Web3 space. In addition, we are evaluating partnerships and business development opportunities that we believe should lead to acquisition candidates as part of our larger long-term growth strategy.”
- Completion of the spinoff from Vinco Ventures, Inc.
- Launch of Freescape Community – Freescape was featured in the Matter creator lounge at VidCon, where the world’s leading digital creators, platform innovators and their fans converge in one place
- Equity-based financing at a price of $8.00 per share
- CW Machines continued delivery of BTC mining equipment to the resale marketplace
Targeted H2 2022-H1 2023 Corporate Objectives
- Focused growth on the transition from Web2 to Web3 in consumer facing industries
- Launch of BTC Tokenization Platform to revolutionize consumer focused mining
- Next launch phase of content driven Metaverse – Freescape
- Diversification across multiple Web3 industries leveraging smart contract and tokenization technologies
- Continued focus on creating shareholder value through strategic partnerships and acquisitions
“As events unfold, we intend on being transparent with the marketplace. At the time each one of the above opportunities is met or materially advanced, we plan to broadcast these events to the Web3 community and our investors. We are excited for the future of Cryptyde and appreciate the market’s patience while we execute on our plans and achieve our objectives. We look forward to a productive second half of 2022 which is expected to solidify the infrastructure we will use as our foundation of growth into 2023,” added McFadden.
Cryptyde, Inc. (Nasdaq: TYDE), is focused on leveraging blockchain technologies to disrupt consumer facing industries. http://www.cryptyde.com/
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements of historical fact could be deemed forward looking, including, but not limited to, the statements regarding the spin-off of the Company from Vinco Ventures, Inc. Words such as “plans,” “expects,” “will,” “anticipates,” “continue,” “expand,” “advance,” “develop” “believes,” “guidance,” “target,” “may,” “remain,” “project,” “outlook,” “intend,” “estimate,” “could,” “should,” and other words and terms of similar meaning and expression are intended to identify forward-looking statements, although not all forward-looking statements contain such terms. Forward-looking statements are based on management’s current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: risks and uncertainties regarding achievement of the expected benefits of the Company’s spin-off from Vinco Ventures, Inc.; tax treatment of the spin-off; market and other conditions; the risks that the ongoing COVID-19 pandemic may disrupt the Company’s business more severely than it has to date or more severely than anticipated; unexpected costs, charges or expenses that reduce the Company’s capital resources; the Company’s inability to raise adequate capital to fund its business; the Company’s inability to innovate and attract users for the Company’s products; future legislation and rulemaking negatively impacting digital assets; and shifting public and governmental positions on digital asset mining activity. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. For a discussion of other risks and uncertainties, and other important factors, any of which could cause the Company’s actual results to differ from those contained in the forward-looking statements, see the Company’s filings with the Securities and Exchange Commission (SEC), including the section titled “Risk Factors” in the Company’s Registration Statement on Form 10, as amended, filed with the SEC on May 13, 2022, and the Company’s Registration Statement on Form S-1, as amended, filed with the SEC on June 16, 2022. All information in this press release is as of the date of the release, and the Company undertakes no duty to update this information or to publicly announce the results of any revisions to any of such statements to reflect future events or developments, except as required by law.