7th Jun 2023 15:19
(Alliance News) - Mobile Streams PLC on Wednesday said it has signed an exclusive commercial partnership with Bitso.
Mobile Streams is a London-based mobile content provider. Bitso is a crypto financial services company, based in Latin America.
Shares in Mobile Streams jumped 22% to 0.14 pence on Wednesday afternoon in London.
Mobile Streams said that Bitso launched its operations in Argentina in February 2020. In May 2021, the company started operations in Brazil and in 2022 launched their operations in Colombia.
Under the one-year partnership, Mobile Streams will offer Bitso the opportunity to promote all Mobile Stream NFT products from its licences and create joint NFT collections.
"NFTs are digital data stored in a blockchain, a form of distributed ledger. The ownership of an NFT is recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded. In effect the company's products are digital merchandise," Mobile Streams explained.
It added that under the agreement there are no costs to Mobile Streams, and it will pay Bitso a "modest" revenue share for any products sold.
Chief Executive Officer Mark Epstein said: "We are proud to be working with the largest Crypto company in Latin America. We feel their market reach and tech combined with our sporting NFT licences and products makes a very powerful combination and should add an important sales channel for our products. Bitso has an incredibly talented team of people and it's a pleasure to be working with them."
By Sophie Rose, Alliance News reporter
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