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Kariba REDD+ Project withdrawal from VCS GHG Program

Carbon Green PR

Lake Kariba - Zimbabwe - May 30, 2024 - ( ThriveNewsWire ) - Carbon Green Investments (CGI) has announced its decision to withdraw the Kariba REDD+ Project and Chirisa REDD+ Project from the VCS GHG Program due to challenges such as communication delays and inadequate engagement, transitioning them to a suitable GHG program provider. This move, driven by issues including delayed responses and operational inefficiencies, aims to maintain the integrity and credibility of the Projects, with CGI expressing optimism for their future with the chosen GHG registry. Carbon Green Investments (CGI), a leading firm in the environmental sustainability sector, has formally announced the withdrawal of the Kariba REDD+ Project and Chirisa REDD+ Project from the VCS GHG program registry. This strategic decision, effective immediately, comes after extensive deliberations and a detailed review of the Projects' engagement and communications with VERRA over the past seven months. The decision to transition these projects to an alternate GHG program was driven by a series of challenges that hindered their effective management and operations. Significant issues included prolonged communication delays and inadequate engagement from VERRA, which have impacted the projects' implementation and CGI's business operations. CGI has cited several specific issues “these not limited” to the lead-up of withdrawal: Engagement and Cooperation: CGI has faced considerable challenges in obtaining timely and constructive responses from VERRA, resulting in extended periods of uncertainty that have affected the project's beneficiaries, staff, and business operations. Communication Delays: VERRA’s persistent delays in addressing inquiries and providing necessary access to accounts have significantly hindered CGI’s business and project management capabilities. Account Access and Transparency: Denial in accessing and managing the treasury/registry account, coupled with unexplained modifications detected within the account, have raised serious concerns about transparency and operational integrity. Project Impact: These administrative challenges have led to further reputational damage and financial losses for all beneficiaries, further compelling CGI to seek a more supportive and responsive registry partnership. Both projects are now in the process of finalizing their registration applications with the Greenhouse Gas (GHG) program and are scheduled for imminent revalidation and verification. CGI is committed to adhering to the highest standards of transparency and accountability, ensuring the integrity of the projects and the credibility of the issued credits. CGI, along with the appointed Validation & Verification Body, will continue to engage with VERRA as necessary throughout the revalidation process. CGI expects full cooperation from Verra to facilitate a smooth transition and efficient handling of the credit transfer process, safeguarding the interests of all beneficiaries. CGI, withdrawing from the VCS GHG program after twelve years of collaboration, remains optimistic about their future under the new program. We are committed to fulfilling our environmental goals and ensuring the continued success and integrity of our projects. For further information, please contact Carbon Green Investments at: info@carbongreeninv.net info@karibaredd.com About Carbon Green Investments (CGI) Carbon Green Investments (CGI) is a leader in the development and management of environmental sustainability projects, focusing on innovative solutions for carbon reduction and ecological conservation. Established with a mission to combat climate change through effective carbon management, CGI specializes in Reducing Emissions from Deforestation and Forest Degradation (REDD+) projects and other sustainable initiatives that contribute to global environmental integrity. CGI is committed to transparency, accountability, and excellence in all aspects of its operations, partnering with various stakeholders to ensure the success and credibility of its projects. Through its strategic approaches and dedicated team, CGI strives to create significant environmental impact and sustainable value for communities and ecosystems around the world, ensuring all areas of the landscape receive their fair share. Contact Details Carbon Green Africa Stephen Wentzel info@carbongreeninv.net Company Website https://carbongreenafrica.net/

May 30, 2024 10:00 AM Eastern Daylight Time

Wise Food Storage Expands Accessibility with Addition to Military Discount Sites

Wise Food Storage

Wise Food Storage is excited to announce its official inclusion on several military discount sites, including Military.com. This expansion is part of Wise's ongoing commitment to making emergency preparedness accessible to more households, particularly those of the brave men and women who protect our freedom. As America's favorite survival food provider, Wise Food Storage has long been a steadfast supporter of the military and first responders. As an All-American company, it is essential to give back to the veterans and military community who have fought to secure our freedom. Norm Ramos, Spokesperson for Wise Food Storage, stated, "Having veterans within our own company has been instrumental in understanding their life experiences, and we greatly appreciate their dedication and service. We are proud to offer this discount as a token of our gratitude for their contributions to our country." To show our appreciation, Wise Food Storage is offering a special 10% discount sitewide, even on sale items, to all military members, veterans, and dependents. As 2024 brings a year of uncertainty, now is the time to get prepared. Wise is committed to helping individuals and families enhance their readiness in these unpredictable times. "We hope a lot of military and veteran households will be able to take advantage of these offers and shop some of our best prices on preparedness products," Ramos added. "Don't wait—now is the time to stock up." In addition to these discounts, Wise Food Storage is proud of partnerships that give back, including our partnership with Randy Couture and his non-profit, Xtreme Couture GI Foundation. After his own military service, Randy created his non-profit to help raise money and awareness to assist our nation's combat veterans and their families struggling with financial burdens as they return to civilian life. Through the Prepare with Randy signature edition bucket line, 20% of each purchase is donated to this non-profit. Learn more here: https://wisefoodstorage.com/collections/emergency-response-providers. About Wise Food Storage Wise Food Storage is a leading provider of high-quality, long-term food storage solutions. With a commitment to quality, convenience, and preparedness, we strive to empower individuals and families to be ready for any situation. Learn more at https://wisefoodstorage.com/. Contact Details Amalie Jorgensen Ajorgensen@readywise.com

May 30, 2024 09:43 AM Eastern Daylight Time

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Alusid Launches Eco-Friendly Floor Tiles and Prepares for IPO

Frontier IP Group PLC

Alusid CEO Alasdair Bremner joined Steve Darling from Proactive to share exciting news about the company's latest developments. Alusid has launched its first range of floor tiles through Parkside Architectural Tiles, the commercial arm of Topps Tiles Plc. This new range, called Mas, is made from 95% to 98.5% recycled content, depending on the color, and boasts one of the lowest carbon footprints of tiles on the market. This eco-friendly feature is particularly significant for the construction industry and its customers, who are increasingly facing carbon taxes, tougher environmental regulations, and stringent sustainability targets. Topps Tiles is expected to introduce the Mas range to retail customers later this year. Bremner highlighted that floor tiles account for approximately 60% of the total tile market. The Mas tiles have undergone extensive testing, proving to be hardwearing with porcelain-grade breaking strength. They are mass-manufactured using industry-standard equipment, with production being subcontracted to ensure high quality and efficiency. In addition to product development, Alusid has successfully raised £1.13 million from new and existing investors in January 2024. This capital injection supports the company's growth initiatives, including plans for an initial public offering (IPO) later this year. The IPO is expected to provide Alusid with the financial flexibility to expand its operations and market presence. Alusid's innovative approach and commitment to sustainability have already attracted notable customers, including Starbucks EMEA, H&M, Pret a Manger, and the BBC. The company is also in discussions with potential distributors in Northern Europe to further expand into new territories. Bremner expressed confidence in Alusid’s strategic direction, emphasizing the company’s dedication to producing sustainable building materials that meet the highest standards of quality and environmental responsibility. The launch of the Mas tile range represents a significant step forward in this mission, offering an eco-friendly solution for the construction industry. In conclusion, Alusid’s launch of its eco-friendly floor tiles, successful fundraising, and upcoming IPO plans mark a period of rapid growth and development for the company. With strong market demand for sustainable products and a robust expansion strategy, Alusid is well-positioned to make a substantial impact in the building materials industry and contribute to a greener future. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

May 30, 2024 09:35 AM Eastern Daylight Time

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Mister Cartoon Continues Partnership with Turtle Wax to Launch Three New Art of Car Care Products

Turtle Wax

In preparation for summer, Turtle Wax is continuing its collaboration with Netflix star Mister Cartoon – the legendary tattoo artist and lowrider builder – to introduce three new car care products to its popular Art of Car Care™ line. Each of these will leave your car shining and protected all season long. The new products, developed with Mister Cartoon's expertise and passion for cars, are now available in-store or online at O'Reilly's or TurtleWax.com. Designed to elevate the aesthetic of your ride while also leaving it properly protected, these innovations expand upon the seven detailing products the duo launched in 2023, along with numerous air care products. The innovations include: All Metal Polish (SRP $13): This is not your average metal polish; it's a comprehensive solution for all your metal polishing needs, designed to bring out the best in your vehicle's metal surfaces. · Its powerful formula contains precision polishing agents that brighten metal surfaces and fight off future oxidation. · Specifically designed to restore the original reflection in chrome, aluminum, brass, stainless steel, and more, it will help to ensure your vehicle's metal parts stay as good as new – no matter what you drive. · Added ceramic infusion helps clean, restore, polish, and protect all metal surfaces, making it a must-have for long-term metal care. Quick Wax (SRP $12): Achieving the perfect, glossy shine for your ride is now a breeze, and it will remain fully protected, too. · Ceramic infusion provides notable shine to your finish, as well as protection and exceptional water repellency in minutes. · The powers of synthetic sealants and carnauba wax combine to create a stunning, mirror-like shine on all exterior surfaces. · The application is quick and easy. Simply spray on a clean, wet, or dry vehicle and wipe it off to reveal the gloss shine. · It's a hassle-free way to keep your vehicle looking its best, allowing you to focus on enjoying your ride! Tire Coat (SRP $14): Thanks to ceramic and acrylic infusion, your tires will experience unmatched, lasting brilliance and protection for up to a year, giving you peace of mind that your car's appearance is maintained for an extended period. · Tire Coat provides a deep black, high-gloss, layer-able shine, bringing water and dirt repellency while driving. · Scrub resistance means you can take your car wherever you want, even wash it, without worrying about removing the coating. · It dries to the touch in minutes and won't accumulate dirt, and you can hit the road without worrying about slinging. With a rich history of involvement in the automotive industry, Turtle Wax and Mister Cartoon are not just names but symbols of quality, artistry, and innovation. They bring a product line that caters to all car enthusiasts, whether they own a daily driver, lowrider, custom rims, whitewalls, or custom paint jobs. No matter what type of vehicle you own, you can trust the combined expertise of Turtle Wax and Mister Cartoon to deliver exceptional car care products, ensuring your car’s appearance is in safe hands. For more product information, visit TurtleWax.com or their YouTube page. To purchase, visit O'Reilly's Auto Parts online or in-store or TurtleWax.com. Don't miss out on the opportunity to experience the Art of Car Care line, a game-changer in car care. EDITOR’S NOTE Click here for product photos. ABOUT TURTLE WAX® The Turtle Wax story started with the launch of the first-ever bottled car wax in 1944. More than 75 years later, the 'Most Innovative Brand in Car Care' is still capturing the attention of the auto appearance industry with a cross-category assortment of No. 1 selling products. With product distribution in more than 120 countries, the Turtle Wax brand resonates globally. Still, the brand's heart remains in its hometown of Chicago, where award-winning innovation is still developed. For an inside look at the brand's breakthrough product development process or how Turtle Wax supports car culture worldwide, visit TurtleWax.com Contact Details The ID Agency Glenda Vaquerano glenda@theidagency.com Company Website http://turtlewax.com/

May 30, 2024 06:05 AM Pacific Daylight Time

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Bluepeak to Invest More Than $19.5 Million to Bring Fiber Optic Internet to the City of Muskogee

Bluepeak

Bluepeak is investing more than $19.5 million to expand its fiber-to-the-home (FTTH) network to the City of Muskogee, Oklahoma. The network expansion will bring a new fast, affordable, reliable fiber broadband option to more than 16,000 homes and businesses in Muskogee starting in 2024. Previously announced in 2022, Muskogee is one of several new expansion markets for Bluepeak slated for launch in 2024 and 2025, and has actively moved into the design and engineering phase. “This marks a significant milestone for Muskogee. Cutting-edge fiber technology to our homes and businesses ensures that Muskogee stays ahead in the digital landscape,” said Planning and Community Development Director, Jody King. “We are excited that Bluepeak has been submitting permits for their planned build and are ready to support this project and the many benefits it will bring to our community.” “We are thrilled that Bluepeak’s investment in Muskogee’s broadband infrastructure is progressing, with the completion of their permitting process and imminent construction,” said Avery Frix, Senator-elect. “This initiative not only provides our community with choices for connectivity but also supports economic development, education, and overall quality of life. We look forward to seeing the positive impact this will have.” Since 2021, Bluepeak has been dramatically improving broadband options by bringing fast, reliable, affordable fiber internet to residents of Oklahoma, Wyoming, South Dakota, North Dakota, and soon, Texas. The latest network expansion investment is part of Bluepeak’s larger plans to invest more than $200 million to continue building out its network in its currently served markets, reaching more than 200,000 new locations with its fiber network in 2024 and 2025. With Bluepeak service, customers get fiber-fast speeds, equal upload and download speeds and whole-home WiFi. Bluepeak service features all-in pricing, where the price on the website is the price on the bill, with a minimum service tier of 1 gigabit-per-second (Gbps). Homes can get up to 5 Gbps and businesses 10 Gbps and beyond. Each fiber internet speed package includes Wi-Fi powered by eero, along with the added value of eero Secure, which protects devices from online threats, ads and allows for customized content filtering. Bluepeak's fiber network provides reliable connectivity and the bandwidth to connect more devices for internet, streaming, gaming and more. Ultimately, Bluepeak service increases broadband competition for internet consumers by providing a fast, reliable, affordable choice for internet in communities where options have traditionally been very limited. According to the Federal Trade Commission, competition “benefits consumers by keeping prices low and the quality and choice of goods and services high.” In addition, a 2020 report by Federal Reserve Bank of Richmond on “Bringing Broadband to Rural America” determined that broadband access and adoption is linked to increased job and population growth, higher rates of new business formation, higher home values, and lower unemployment rates. Those in Muskogee interested in more information on Bluepeak service availability and details on the construction process can sign up for updates by entering their service address at mybluepeak.com. About Bluepeak Bluepeak is a new kind of internet provider bringing fast, reliable, affordable internet to places that have needed better options for too long. The company has roots serving Great Plains and Midwest communities going back more than 30 years. As the need for internet in the region has evolved so has Bluepeak, upgrading and expanding service to several markets in South Dakota, southwest Minnesota, Oklahoma, Wyoming and North Dakota with the newest cutting-edge technology. These expansion efforts include multi-million-dollar infrastructure projects, community involvement and growth through local hires. Bluepeak is earning the trust of customers and businesses through simple, affordable offerings, responsive, reliable customer service and transparent pricing. The company’s unique approach to delivering internet service has earned Bluepeak accolades for customer satisfaction, network performance, workplace culture and meaningful community partnerships. Visit www.mybluepeak.com to learn more. Contact Details Parnomi PR, on behalf of Bluepeak +1 574-208-9090 media@parnomi.com Company Website https://www.mybluepeak.com

May 30, 2024 07:00 AM Mountain Daylight Time

Postie Debuts New CRM Optimization Engine to Maximize the Lifetime Value of Customer Relationships

Postie

Postie, the leading innovator of direct mail automation solutions, today announced the launch of its CRM Optimization engine, designed to enable businesses to automatically optimize customer relationship management (CRM) data helping brands achieve incremental profitability. The CRM Optimization algorithm runs campaigns autonomously using machine learning to maximize the lifetime value of customer relationships and improve return on investment (ROI), becoming more intelligent and delivering improved results with each successive campaign. As a marketing technology company that uses data science to transform direct mail into a performance-based digital platform for CRM and acquisition marketers, Postie's CRM Optimization algorithm uses advanced machine learning techniques to continuously analyze a company's entire CRM database and autonomously identify the most promising customers for direct mail campaigns. The algorithm uses a deep reinforcement learning modeling technique to pinpoint the optimal time to mail target audiences, increasing sales and deepening customer loyalty. The addition of CRM Optimization to Postie’s offerings has resulted in the following new capabilities for brands and marketers: Automatically identifying the best audience by finding the most promising segments within a brand’s CRM database, ensuring targeted and effective campaigns. Personalized recommendations on which products or offers to send to each audience segment, maximizing engagement and conversions. Real-time optimization by continuously learning from campaign performance and adjusting strategies, optimizing results and minimizing wasted ad spend. Analyze data by leveraging several years of transaction and mailing history to gain deep insights into customer behavior and preferences. Increase revenue by identifying a missing purchase window that exists for an individual and trigger a direct mail piece at the right time for conversion. Improved customer engagement by identifying high and consistent spenders, excluding people who should not be mailed beyond what they are already receiving. Reduced churn by providing a cohesive CRM offering that companies with large CRM databases will more easily see the value in during the sales or renewal process. Postie users employing CRM Optimization have witnessed significant campaign performance improvements. One outdoor retail brand’s campaign saw an average order value of $275, surpassing previous campaigns. Postie’s CRM Optimization audience outperformed the brand’s previous method of randomly pulling additional CRM contacts into the campaign by three times. The brand experienced a $200 increase in AOV and a remarkable 3951% return on ad spend (ROAS). This represents a staggering 2,488% incremental ROAS, indicating the tool's ability to identify high-value customers and drive incremental revenue. “CRM Optimization is a game-changer for large brands and retailers that want to get the most out of their CRM data and direct mail marketing strategies. Our algorithm learns as it goes, getting more accurate as time goes on, so our clients can be confident that they’re making the most intelligent decisions on how to interact with their customers,” said Dave Fink, CEO & Co-founder, Postie. “By utilizing our machine learning algorithm, brands can identify the right customers to mail and the right time and frequency to mail them, leading to significant increases in incremental revenue. We’re excited to offer something unique for companies with large CRM databases to more easily see the value during sales and renewal processes.” Postie's CRM Optimization engine is available now. To learn more or to book a demo, visit https://postie.com/crm-optimization/. About Postie Postie, a trailblazing marketing technology company, has revolutionized direct mail by infusing it with digital capabilities. As a leading end-to-end direct mail campaign platform, Postie is steeped in data science and purpose-built for empowering CRM and acquisition marketers with smarter targeting, simpler execution, and stronger measurement. Postie's robust platform offers an array of tools for optimizing direct mail campaigns through testing and attribution, with clients achieving an average campaign ROAS of 1,382%. For more information, visit: postie.com Contact Details Kite Hill PR for Postie +1 724-787-1565 postie@kitehillpr.com

May 30, 2024 09:00 AM Eastern Daylight Time

Silver Prices Surging – How Market Conditions Are Affecting The Price Of Silver

Benzinga

By Anthony Termini, Benzinga Precious metal prices are significantly influenced by investor sentiment, much like stocks and bonds. This can lead to routine price fluctuations, sometimes large and erratic, where the volatility can create both challenges and opportunities for investors. A comparison of price movements in gold (represented by the SPDR Gold Shares ETF (NYSE: GLD)) and silver (represented by the Silver Benchmark Index (CME: SGICSIB)) since last May reveals two key insights. First, gold and silver prices are closely correlated. Second, silver prices exhibit greater volatility than gold prices, with more pronounced price swings in both directions. While daily price swings can be unnerving for investors, they can also create trading opportunities, offering the potential for higher returns for investors that are aware of the volatility. A Hedge Against Uncertainty And Inflation Precious metals have long been viewed as a hedge against inflation and used to preserve wealth during times of economic or geopolitical instability. History has demonstrated the correlation, with gold and silver prices often surging in response to crises and turmoil. The price of gold doubled in less than five years from $272/oz in August 2001 to $549/oz in January 2006 following the September 11th terrorist attacks. Similarly, gold rallied during and after the 2008 global financial crisis, and most recently, the Israel-Hamas war has exacerbated geopolitical tension, further driving up demand for the yellow metal. Silver has also historically offered advantages even during economic uncertainties. According to the Silver Institute, when markets go into “risk off” mode (i.e., decline), silver is seen as a relatively safe and inexpensive investment that has typically delivered positive returns. Yet under “normal” circumstances of economic expansion, silver exhibits a positive correlation with stock market performance as reflected in its relationship with indices such as the S&P500. This demonstrates the metal’s dual nature, as industrial consumption accounts for more than half of the silver demand, according to the World Silver Survey 2023. Surging Industrial Demand for Silver The transition towards a more sustainable future and the growth of clean energy technologies have positioned silver as a critical component in numerous industries. Sectors such as electric vehicles, green energy infrastructure, and consumer electronics, all rely heavily on silver for its unique properties and applications. The increasing adoption of electric vehicles and the expansion of charging infrastructure will further drive the demand for silver, as it plays a crucial role in the manufacturing of batteries and electrical components. Furthermore, photovoltaic cells, used in solar panels, require significant amounts of silver for their efficient operation. Additionally, silver's exceptional electrical conductivity and durability make it an essential material in the production of wind turbines and other renewable energy systems. The continued growth of these industries could boost demand and support higher silver prices. This positions silver as an attractive investment opportunity, especially given its historical performance as a hedge against inflation and economic uncertainties While the demand for silver is expected to surge, the supply side may struggle to keep pace. According to Sprott, a global investment manager specializing in precious metals, “ supply will not keep up with growing demand as we do not see enough projects in development to generate the kind of production levels in question”. Investors looking to capitalize on that potential upside in silver prices may want to consider mining companies that offer significant silver exposure. These companies, which are directly involved in the exploration, extraction, and production of silver, can provide a direct avenue for investors to gain exposure to the underlying commodity. What Are Some Investment Plays In Silver?Silvercorp Metals Inc. (AMEX: SVM) Vancouver, Canada-based Silvercorp Metals Inc. (AMEX: SVM) is a silver producer with an 18-year track record of profitable operations and consistent growth. In its most recent quarter, silver accounted for 59% of total revenue — one of the highest among its peer group of silver miners. In fiscal year 2023, Silvercorp produced 6.6 million ounces of silver at an all-in sustaining (AISC) cost of $9.73/oz, net of by-products. This low production cost translates into industry-leading profit margins, enabling the company to build a strong balance sheet with approximately $198 million in cash (and no debt) without external financing. While Silvercorp's single-jurisdictional focus has led to undervaluation in the current market, the company is exploring strategic acquisitions to broaden its scope and address this perception. In April, Silvercorp announced a friendly deal to acquire Adventus Mining Corp. (OTC: ADVZF) in an all-stock transaction worth around $146 million. Adventus’ flagship asset is the permitted, high-grade El Domo copper-gold project in Ecuador. This acquisition offers a potential for re-rating, driven by increased scale, a significantly enhanced growth profile, and the establishment of a presence in an emerging, mining-friendly jurisdiction. Pan American Silver Corp. (NYSE: PAAS) Pan American Silver Corp. (NYSE: PAAS ) operates silver and gold mines in North, Central and South America. The company is one of the largest silver producers globally but has a high AISC profile almost twice that of Silvercorp. Pan American is actively divesting its non-core assets. Recently, the company agreed to sell its La Arena project in Peru to Zijin Mining. The deal includes an upfront cash payment of $245 million and a $50 million future contingent payment. New Pacific Metals Corp. (AMEX:NEWP) New Pacific Metals Corp. (AMEX: NEWP) may be a more speculative play as a development-stage company than the other established silver producers. However, New Pacific owns promising mineral assets in Bolivia, and its flagship Silver Sand project is ranked among the top undeveloped silver projects in the world. In 2023, a Preliminary Economic Assessment (PEA) outlined a post-tax Net Present Value (5% discount) of $ 726 million and an Internal Rate of Return of 39%. Their other project, Carangas, could be even bigger, with a PEA expected to be released later this year, further cementing the company’s value. As of Mar. 31, this year, New Pacific had around $25 million in working capital, providing ample resources to continue advancing their projects. Investors in exploration companies can realize substantial returns once the market recognizes the value of the project or if they are acquired by larger players. Other industry peers have shown interest in New Pacific as the company is backed by both Silvercorp (which owns a 27% stake) and Pan American, the latter of which recently increased its stake to 12%." Endeavour Silver Corp. (NYSE: EXK) Endeavour Silver Corp (NYSE: EXK) is an established silver miner with operations in the United States, Mexico and Chile. In 2023, the company produced 5.6 million ounces of silver at an AISC of US$22.93/oz net of by-products, with silver accounting for more than half of the revenue mix. As the global economy navigates through uncertainties and potential headwinds, precious metals may continue to shine as a compelling investment opportunity. By understanding the economic drivers and market sentiment influencing these commodities, investors can position themselves to capitalize on the potential upside while mitigating risks through diversification. Featured photo by Geizkragen69 on Pixabay. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

May 30, 2024 08:45 AM Eastern Daylight Time

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This Mark-Cuban-Backed Company Is Creating Waves In The Creator Economy

Overplay

By Faith Ashmore, Benzinga Ever since the pandemic, the creator economy has taken off in ways that few would have predicted. While the 21st century had already seen YouTube stars making seven-figure salaries, the pandemic made the creator economy far more accessible to a larger number of people. In 2023, the creator economy was worth $250 billion, and it is predicted that by 2027, it could reach more than $480 billion. According to a report by Goldman Sachs Research, it's expected that 50 million global creators will grow at a 10-20% compound annual growth rate during the next five years. This significant expansion in the creator economy has ample room for continued development. Individuals are finding new opportunities to monetize their skills and creativity across a number of platforms. This has led to an increase in the variety of content being produced, from vlogs and tutorials to artwork and music. The rise of subscription-based platforms and the implementation of creator monetization tools has further fueled this expansion, providing creators with the means to generate income directly from their fanbase. Of course, earning their share in ad revenue remains important for creators who are monetizing on platforms like YouTube, TikTok and Instagram. However, while user-generated content is becoming more and more valuable, this trend hasn’t yet fully emerged in the gaming format because games until now have been difficult, time-consuming and expensive to make. A New Creator Platform That Leverages Interest In Video Games In today's digital landscape, where, according to YouTube, 1 billion hours of video are watched on YouTube daily, and short-form videos are found to be highly engaging by almost 70% of consumers, Overplay has emerged as a revolutionary addition to the creator economy. Overplay empowers creators to effortlessly transform their videos into interactive games, requiring no coding skills. This game-changing solution addresses the demand for engaging and interactive content, enabling creators to tap into the world of gaming in just minutes. The platform also helps content creators do more with their existing content, making playable experiences for their fans without intensive labor. Overplay extends its value to brands as well, offering the opportunity to create playable game ads at a fraction of the cost and time required by traditional methods. Imagine the NBA creating playable highlight reels, movie studios releasing trailers that are games and car companies making commercials where you virtually test drive their cars! Moreover, playable ads yield a 7x higher conversion rate compared to other ad formats. The company's success is evident through impressive figures, including over hundreds of thousands of app downloads and millions of games played. When stacked against a regular YouTube video, a gamified version of that same video garners 23 times more engagement, proving the significant potential of Overplay as a new approach to content creation and consumption. When Overplay appeared on the latest season of Shark Tank, it was no surprise that the company managed to catch the attention and investment of Mark Cuban, who later said at SXSW, “I like to geek out with the good stuff, Overplay is the good stuff!” Overplay operates at the nexus of a $574 billion digital media landscape that encompasses social media, advertising and gaming and is revolutionizing content creation. It introduces fresh, lean-in interactive experiences that surpass the lean-back approach to video that we are all used to. Recognizing the need for faster and cost-effective game development, the founders of Overplay have harnessed the power of interactivity to create content that is highly replayable and, as a result, more valuable to both creators and players alike, especially as they strive to achieve high scores. With its innovative approach, Overplay is making its mark as a transformative force within the creator economy. Featured photo by Andre Hunter on Unsplash. Overplay is revolutionizing a $574 billion digital media landscape with the first frictionless platform for user-generated games.With Overplay, everyone can turn their videos into games and share them with the world — in minutes, for free, with no code. Overplay’s app can be used to quickly and easily make games from anything: funny moments with your friends, cat memes, cooking tutorials, extreme sports POVs, and more!Imagine the NBA creating playable highlights reels, movie studios releasing trailers that are games, and car companies making commercials where you virtually test drive their cars. Overplay’s app and licensable technology allows billions of creators, social media users, and brands to amplify audience engagement by making their content interactive.Overplay sits at the intersection of three massive markets: social media, video advertising, and casual gaming. We are merging everything that makes these markets successful into one revolutionary form of digital media that will be consumed and created by BILLIONs of potential Overplayers worldwideWith Overplay’s API, brands can apply a thin layer of gaming on top of videos already being streamed in advertisements. Because our technology is so simple and takes only a few minutes, Overplay cuts down on thousands of hours of production time and millions of dollars in costs for brands to leverage this highly engaging ad format. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Caroline Strzalka caroline@overplay.com Company Website https://overplay.com/

May 30, 2024 08:40 AM Eastern Daylight Time

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BitFuFu Q1 Earnings: Adjusted EBITDA Up 430.9% To $49.4 Million On Revenue Growth Of 149%, Cash Position Rises To $163.7 Million

Benzinga

By Meg Flippin, Benzinga BitFuFu Inc. (NASDAQ: FUFU), the digital asset mining company based in Singapore, posted first-quarter revenue that soared 149% year-over-year, buoyed by strong demand for its Bitcoin mining services. For the first three months of the year, total revenue was $144.4 million compared to $58 million in the year-ago first quarter. Net income of $35.3 million was much higher than the $2.7 million reported in Q1 2023 while adjusted EBITDA increased 430.9% to $49.4 million. Revenue from BitFuFu’s cloud-mining solutions rose 181% year-over-year, while sales from Bitcoin self-mining operations grew 117%. The company’s cash position also increased, hitting $163.7 million as of the end of March. BitFuFu ended 2023 with $76 million in its coffers. “BitFuFu had a very strong quarter. We are actively taking steps to reduce operational costs, increase margins and decrease our carbon footprint. Our ability to generate cash and strengthen our balance sheet ideally positions us to capitalize on growth opportunities going forward,” Leo Lu, BitFuFu’s chairman and CEO, said on a conference call to discuss first-quarter results with Wall Street. “These factors combine to form what we believe is a compelling strategy that will create long-term sustainable shareholder value.” Key Areas Firing On All Cylinders During the quarter, BitFuFu saw strong growth in key business areas, including registered users, hosting capacity and Bitcoin production by customers. Hosting capacity is up 25.5% to 644 MW, while registered users hit 321,184, a 63.5% increase from last year’s first quarter. The growth in cloud registered users is notable given the market is concentrated with the top five players accounting for 75% of the market in terms of revenue last year, according to data BitFuFu cited from Frost & Sullivan. BitFuFu's ability to increase users amid intense competition is a testament to its leadership. The company says it's the largest player in this segment, accounting for a third of the market in 2023. That may appeal to investors, given the growth of BitFuFu’s U.S. counterparts. Take Riot Platforms Inc. (NASDAQ: RIOT) for starters. The company, which is known for keeping costs for customers at bay, is in acquisition mode, recently offering $930 million to acquire bitcoin miner Bitfarms Ltd. (NASDAQ: BITF). Then there is Marathon Digital Holdings Inc. (NASDAQ: MARA), which has seen bitcoin mining output growth similar to BitFuFu. Its stock is up more than 120% compared to a year ago. The same story is playing out at Cleanspark Inc. (NASDAQ: CLSK). Amid brisk demand, its market cap stands at over $4 billion. BitFuFu’s market cap pales in comparison but that may not be for too long if the company has its way. “BitFuFu has experienced significant growth over the past four years as the value proposition of our cloud mining services increasingly gains traction. The one-stop service we provided to customers is a more efficient and convenient way for customers to mine Bitcoin, and a more profitable way for them to acquire Bitcoin at reasonable cost,” said Lu. “During the first quarter, demand for cloud mining services continued to grow, driven in large part by the increase in the price of Bitcoin.” Bitcoin production by customers from cloud-mining solutions increased 53.0% to 2,096 BTCs. Meanwhile, the cost to mine BTC from self-mining operations averaged $39,182 per BTC versus US$21,908 per BTC in 2023. Total mining capacity under management increased 52.1% to a record 28.6 EH/s, compared to 18.8 EH/S during Q1 2023. Given its position in the market, Lu said the company is confident in its ability to continue growing revenue as it acquires more users (both registered and paying) and expands the number of miners with the strong support of its long-term partner Bitmain Technologies Ltd., which makes Bitcoin mining hardware. Reputation is everything in the cloud mining industry, and counting Bitmain as an exclusive partner gives BitFuFu even more credibility. Keeping Costs At Bay When it comes to running a cloud mining company, keeping costs in line is key to profitability, and BitFuFu kept a focus on it even during the quarter. Take its hosting capacity for one example. Lu said on the call the company is reducing hosting and power costs by exploring opportunities to acquire existing facilities or build new mining infrastructure in the U.S. and other geographies. “We are currently in negotiations with operators of existing mining facilities on the potential for joint ventures or acquisitions. We are also considering greenfield projects. Some of these projects have made meaningful progress and are in the final stages,” said Lu. Then there’s its pursuit of future power supply resources and renewable energy to support its efforts to reduce operational costs, increase revenue streams and achieve carbon-neutral operations. To hedge against grid dependency and the fluctuating cost of power, which Lu said is crucial to stabilizing operations, BitFuFu is exploring off-grid opportunities including flare gas, which to date is underutilized by the industry. “We are excited to announce the launch of our first small-scale flare gas deployment in Texas in partnership with one of the region's most proactive developers,” said BitFuFu’s CEO. ”Following a successful proof-of-concept, we expect the project to be fully operational by the end of 2024 where it will lower our mining costs and increase our gross margins.” Expanding Its Offering If that isn’t enough for the mining services company, BitFuFu is ensuring it continues to drive growth across its business by expanding into new products and services that will benefit the overall industry and make BitFuFu more money. One example is a mining facility management system BitFuFu built for mining facilities it and its partners operate. Currently, the system manages over 50,000 mining rigs and helps the company enhance and refine miner management, including through the timely detection of mining rig failures and potential risks and the ability to directly adjust the operating mode of the machines to optimize their profitability. “In the future, by providing this system to more mining facilities and partners, we believe we can increase BitFuFu's brand recognition and expand our partnerships and resources,” said Lu. When it comes to mining for digital assets through the cloud, speed, reliability and reputation are key to making money. Most are looking for a secure provider that will be around for the long haul. BitFuFu seems to check off all the boxes, and judging from its first-quarter earnings results, customers agree. Featured photo by Kanchanara on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

May 30, 2024 08:35 AM Eastern Daylight Time

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